The MEST Scale Accelerator program, which is aimed at SME’s in Ghana, assists by laying the groundwork for the company’s growth. The programme aids in developing the ability to expand without hindrance, which requires preparation, some financing, and the appropriate systems, personnel, procedures, technology, and partners.
Additionally, Small and Medium Enterprises (SMEs) play a critical role in Ghana’s socio-economic development. They represent over 80% of enterprises in the Ghanaian market. However, despite the significant role, SMEs face several key challenges that make it difficult to scale up sustainably.
Simply put, MEST Scale is a venture acceleration program designed by MEST in partnership with the MasterCard Foundation to help Growing Businesses strengthen their operations, address critical technology gaps and increase their ability and capacity to scale.
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Eligibility For The MEST Scale Accelerator Programme
MEST Scale is looking to support Small and Medium Enterprises that are ready to scale and already has the following resources:
Commercial viability
- A business at its growth stage that has achieved product-market fit.
Sales and traction
- Annual sales ranging from $150,000 – 5 million USD.
Personnel and talent
- A full-time management team with 4 or more members.
Scalability
- Clear ambition for growth and potential to scale.
Revenue and profit
- Sales/revenue for at least 3 years, clear financial breakeven path if not already profitable.
Market
- Based in Ghana and headquartered in the Greater Accra region.
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MEST Scale Accelerator Curriculum
The MEST Scale programme follows the following curriculum
PHASE 1 – Scale Diagnostic and Strategy
Duration – 4 Months
Description: Company leaders engage with the MEST Scale team to create or enhance their strategic plans for scaling. The company will also identify the types of technology enhancement that would be helpful for their scaling objectives.
Objectives – Ensure SMEs have;
- A better understanding of what it takes to scale.
- A completed scale-readiness diagnosis identifying their venture’s main gaps.
- An articulated scale strategy.
- An articulated technology plan for scale.
PHASE 2 – Bespoke Scale Preparation
Duration – 8 Months
Description: Specialists will hold sessions with leaders at their companies to help address key challenges identified during the diagnosis phase. This phase will include technology consulting and bespoke consultative services to resolve business management inefficiencies and technology gaps.
Objectives: Help SMEs improve their scale readiness by addressing the key technology gap and significant operational gaps.
PHASE 3 – Implementation
Duration – 6 to 36 Months
Description: The Company implements its scaling plan. Continued support from MEST may take the form of financial linkages, advisory support, and other partnering roles.
Objectives: Establishing the scale project operation and financial plan, Implementing a scale pilot and embarking on their scale project.
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Application Process
- Fill out the expression of interest form.
- Application form will be sent to companies who express interest.
- The applications are reviewed on a rolling basis.
- Interview invitations sent to shortlisted companies.
- Final selection made with offers of admission.
Application Timeline and Program Dates
September 15, 2021 – Call for Expression of Interest opens.
October 18, 2021 – Call for Expression of Interest closes.
November 19, 2021 – Selected ventures announced.
December 2021 – Program starts.
December 2021 – March 2022 – Phase 1: Scale Diagnostic and Strategy (4 Months).
April 2022 – November 2022 – Phase 2: Bespoke Scale Preparation (8 Months).
December 2022 – Phase 3: Implementation (variable 6-36 Months).
How To Apply
Visit the website to apply for this programme.
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