Small and medium enterprises (SMEs) play a key role in the socio-economic development of the Republic of Mauritius. Unfortunately, failure rate of small new businesses is high in their initial years. Lack of experience of the entrepreneur and insufficient support mechanisms for start-up companies are some of the major bottlenecks faced by SMEs willing to innovate.
To address these issues, Government has set in place a wide range of policies, one of which is the implementation of the National SME Incubator Scheme (NSIS). The NSIS at setting up a sustainable entrepreneurial ecosystem in Mauritius in which Government and accredited private sector incubators work in partnership to foster the growth and development of innovative businesses. Under the NSIS framework, the Government and the private sector incubators provide the appropriate training and mentoring facilities, co-financing opportunities, office space and other relevant resources to nurture (i) innovative ideas, (ii) early business start-ups and (iii) SMEs willing to expand their activities and explore new markets.
The NSIS adopts a holistic approach geared towards providing a new thrust to the SME sector in Republic of Mauritius in terms of creation of Innovative businesses.
Further to a first call for proposals in February 2017, six (6) private sector incubators have been accredited and have agreed to work as per the terms and conditions of the NSIS. These incubators are:
These Accredited Incubators will select, coach and mentor innovative business start-ups as early as the idea stage till the full-fledged development and acceleration of the business activities of the resulting SMEs.
Details on the NSIS are available on our website.