Small and medium enterprises (SMEs) are crucial to fostering economic and social development of the Republic of Mauritius. Unfortunately, failure rate of small new businesses is high in their initial years. This is mostly due to lack of experience of the entrepreneur and to insufficient support mechanisms for start-up companies.
To address these setbacks, Government has set in place a wide range of policies as outlined in the Budget Speech 2016-2017. One of these measures is the creation of the National SME Incubator Scheme (NSIS) with a view to contribute to the establishment and reinforcement of a sustainable entrepreneurial ecosystem in the Republic of Mauritius.
Under this Proposal Solicitation the Mauritius Research Council (MRC), in collaboration with the Ministry of Finance and Economic Development (MoFED), invites private sector Business Incubators to submit their Expression of Interest to incubate Projects under pre-incubation, Incubation and Acceleration phases. This ‘Guidelines to Applicants’ provide all the relevant details on the NSIS, as well as the proposed process for the operation, management and monitoring of the Scheme.
The NSIS will involve the Government, Accredited Private incubators, incubatees having innovative business ideas. The Mauritius Research Council will be the implementing arm of the Government for this scheme.
The NSIS will fund (on a 50:50 matching grant basis) Accredited Private Sector Incubators which will provide all the infrastructural support, training and mentoring to the Projects accepted at Pre-Incubation, Incubation and Acceleration phases.