Propella to drive and support new businesses in Bay

SOME of you may have read the exciting news about the launch of Propella yesterday.

If you have not, but have driven past the intersection of Walmer Boulevard and the M4 freeway, you may be wondering about the new Propella signage and activity happening in the building behind the South End Museum.

For innovation aficionados, it is the start of a really exciting initiative to support and develop businesses in Nelson Mandela Bay – yes, it is an incubator, but with a difference.

There are two main differences. Firstly, Propella focuses on innovation businesses that have a manufacturing component.

This is quite different from many incubators that do not have an innovation focus – or, in fact, a manufacturing one.

Manufacturing is hard. It takes a long time and a lot of money to establish a manufacturing business that utilises innovative technology or produces an innovative product.

Many innovation start-ups are ICT-based, where you can “fail fast and fail cheap”.

In manufacturing the risks are higher, the cost of failure is higher – but the rewards are also substantial.

The manufacturing sector has the potential to create jobs and wealth for the region. So these businesses need help to survive and thrive.

Secondly, Propella actively looks for opportunities and then matches entrepreneurs to those opportunities. Sitting and waiting for an entrepreneur with a business idea to approach the incubator is not really the right approach, but one that many incubators seem to employ.

The development focus really needs to be on the entrepreneur more than the technology or the business.

Ask any investor what they look for when funding a new business and they will tell you market, technology, people. Ask them which is the most important aspect – they will always say people.

A good team can make an average technology work. A poor team can make the best technology fail.

Propella was started with the vision to establish a university-based incubator at NMMU to support and stimulate technology-based innovation companies.

NMMU has been incubating businesses based on their technology as well as student businesses, but on a fairly ad hoc basis and with limited involvement from the private sector.

This needed to change to really make a difference.

Innovolve, the wholly owned commercialisation company of NMMU and Engeli Enterprise Development (EED), a private sector business support company, joined forces to establish Propella.

Every good incubator must have a focus, and Propella’s main areas of focus will be renewable energy generation, energy efficiency and related technologies, and advanced manufacturing.

However, Propella will also support creative arts and textile entrepreneurs from a satellite incubator at NMMU’s Bird Street premises.

Many of the challenges experienced by new creative arts businesses are the same as for manufacturing businesses.

Propella is funded by the IDC and will also receive support from NMMU, EED and corporates, including GMSA.

Propella’s doors are open for involvement from anyone passionate about innovation, about the Bay and about creating a lasting legacy to move the city forward.

Jaci Barnett is the director of Innovation Support and Transfer at NMMU. She writes in her capacity as chair of the Regional Innovation Forum