South African accelerator Grindstone, in partnership with USAID Southern Africa Mobilising Investment, has launched an innovative two-year program aimed at transforming startup and scale-up support in South Africa.
Founded in 2013 and co-owned by Knife Capital and Thinkroom Limited, Grindstone is a structured entrepreneurship development program designed to assist high-growth, innovation-driven companies in establishing the fundamental building blocks necessary for rapid scaling and long-term sustainability, and fundability. To date, Grindstone has successfully executed 16 accelerator programs.
Selected from 13 grantees across Southern Africa by USAID Mobilising Investment, Grindstone will now spearhead a new initiative to support 40 startups annually. This program will draw participants from both Grindstone alumni and other startups and scale-ups within the entrepreneurial ecosystem.
The inaugural cohort is set to commence in July. Participating ventures will benefit from expert mentorship and coaching, in addition to essential back-office services that startups often neglect, such as finance, marketing and branding, operations, legal, and technology support. A key component of the program will be Grindstone Boost, a dynamic back-office solution tailored to elevate startups’ operations, fortify their financial foundations, enhance their brand presence, and leverage technology for efficient scaling.
Keet van Zyl, co-founder of Grindstone and partner at Knife Capital, emphasized the importance of solid fundamentals for scaling companies. “Companies can only truly scale and reach their full potential with a strong base of solid fundamentals. Grindstone Boost will significantly improve the quality of financial records and modeling, enabling better investment decisions for both venture capitalists and potential investee companies,” he said.
The development and planning of the Grindstone Boost back-office services are ongoing, with the application
