Telkom FutureMakers
Established in 2015, FutureMakers remains a beacon of hope for entrepreneurs from disadvantaged backgrounds. The FutureMakers programme affords black-owned micro, small and medium enterprises (MSMEs) an opportunity to develop their business-focused ideas, gain market access, sharpen their skills and scale up.
FutureMakers represents a vital acceleration opportunity for startups and MSMEs. At its core, it is an advanced Enterprise and Supplier Development (ESD) initiative with an innovation and transformation focus. Since its inception, FutureMakers has helped to grow over 2 600 SMMEs, which has led to the creation of over 67 000 jobs.
Diversity and inclusion are prioritised when selecting ICT entrepreneurs who can turn innovative ideas into commercially viable, scalable and investable solutions to social issues.
In line with the BBBEE codes of practice for the ICT Sector, our ESD programmes fall into two major categories:
- Enterprise Development (ED) – programmes aimed at developing black-owned ICT MSMEs in the ideation and acceleration stages.
- Supplier Development (SD) – programmes to support black-owned MSMEs in the Telkom supply chain.
Our MSMEs have access to a number of interventions ranging from a Business-in-a-Box startup package, to coaching and mentorship, as well as introductions to market opportunities and funding.
Enterprise Development (ED)
Ideation/Incubation Stage
Our Township Innovation Incubator is a bespoke programme reserved for townships and rurally based entrepreneurs who leverage technology to solve societal challenges. These may range from mobility and fintech issues to gender-based violence. The programme provides business tools and pre-seed capital funding as well as assistance with the development of a business idea to minimal viable product (MVP).
Our annual Hackathon series takes place in several regions around the country. The objective is to harness innovative ideas from the youth to solve business challenges. The Hackathon culminates in a grand finale event at which three winners are announced and acknowledged for their proposed solutions.
Accelerator Stage
Our accelerator programmes provide scale-up support to established technology startup businesses. Strong emphasis is placed on the delivery and execution of an implementable business strategy to ensure long-term success. In partnership with AIONS, our Venture Builder, seed capital is provided to startups and rigorous business development support services help to upscale them. Our AI-Powered Scale Up programme is particularly effective in tech-startups who have already gained traction and MVP.
Supplier Development Programme (SD)
Our SD programmes offer business development services and funding to black-owned MSMEs who have become suppliers to Telkom. The programme is curated in conjunction with internal business stakeholders to ensure that the MSMEs are set to succeed. These MSMEs often evolve to fulfil strategic roles in Telkom’s core business. The Telkom Dealer Programme and the Openserve FTTX panel of suppliers (previously called the IFT programme) are but two examples of successful supplier development initiatives.
Funding
It is widely accepted that there is a funding gap for MSMEs in Africa. Most funders focus on funding in the later stages of MSME development, leaving entrepreneurs to seek angel investors or, sadly, to give up on their dream. FutureMakers plays a pivotal role in the funding spectrum, starting with pre-seed investment right through to the first significant round of venture capital financing (VC Series A). A number of instruments suited to the risk profile and development stage of the MSME are used and, to ensure success, FutureMakers partners with the fund manager to manage the funds internally.
Fast Facts
The supplier development programmes of wholly owned Telkom subsidiaries, Openserve, together with dealers and township innovation partners, generated revenue in excess of R259m, FY23.
FutureMakers has not only become a key contributor to the SMME universe, but also creates opportunities to invest in start-ups in verticals in which we aim to operate once South Africa is fully connected.
Our accelerator programme offers deep support for SMMEs to help them develop and scale products to access funding for further expansion.
Success
Through the IDF fund, we invested in Dropper a company that graduated from our incubation programme and went on to become a supplier at one of our delivery companies.
Recognising its potential, we also became one of the first investors in SweepSouth, an all-encompassing cleaning service.
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