Cluster struck: accelerating chemical industry growth in Durban
04 December 2019 | Web Article Number: ME201917370
THE Durban Chemicals Cluster, a public-private partnership between eThekwini Municipality and the chemicals manufacturing sector in Durban, is currently hosting the second annual Business Accelerator at The Capital Pearls, Umhlanga.
Taking place between 3 and 5 December 2019, the Business Accelerator is billed as a unique opportunity to fast track businesses to success through capital upgrading, affordable financing and mentorship.
The programme was launched in 2018 and has seen 22 businesses trained, seven companies receive intensive mentorship and affordable financing of R1,5 million given to the leading business of 2018, Emakheni, owned by Portio Dlamini.
Speaking at the Business Accelerator, Dlamini said “I have been running my business for six years now and this opportunity has finally provided me my chance to grow. It is now my chance to accelerate”.
Three of the Durban Chemicals Cluster member - NCS Resins, Ferro Coating Resins and Ferro Dispersions - developed and supported the Business Accelerator as a strategic mechanism to develop the local manufacturing industry and support future suppliers into the chemicals sector.
Daniel Souchon, Managing Director of Ferro Coating Resins and Dispersions said, “We are already working with Portio as a new supplier to our company. We are excited to see her business develop as a result of the capital and equipment she will receive from the programme”.
On 5 December, three new businesses with strong growth potential will be acknowledged and receive grant funding of up to R50 000,00. Leading businesses will thereafter enter the Business Accelerator mentorship programme with the opportunity to ready their business for affordable financing of up to R2 million.
Trevor I’Ons, Managing Director of NCS Resins, said, “We are looking for disruptors, small businesses with great new ideas that are able to make a difference”.
Looking forward to Thursday, Ravesha Govender Programme Manager at eThekwini Municipality, noted that “initiatives such as these are strategic mechanisms to drive transformation and we look forward to watching small business partner with our large established entities through the programme”.