The advertising company, based in Melrose, announced that as part of the first phase of the project, the agency’s management team would support and mentor start-up businesses.
Ran Neu-Ner, the company’s group co-chief executive officer, explained the process for interested businesses. “We have opened applications for black start-ups in media, marketing, digital, mobile and activations,” he said.
“We have no interest in taking any equity in the businesses but are passionate about supporting them with the infrastructure and administrative and accounting processes to succeed.”
He added that the company decided to embark on this initiative because it held the belief that successful black-owned businesses were the true measure of transformation.
Neu-Ner criticised the advertising industry for the practice of fronting and recycling the few black managers in the industry, adding that this stood in the way of transformation.
“At [the counsel] we hope to confront and, hopefully, eradicate this practice and foster true empowerment in the industry.”
Adding to this was the company’s co-chief executive officer, Gil Oved, who urged the industry to invest in supporting black entrepreneurs. He said this could be done through mentorship which would ensure that fledgling companies were given the best chance to succeed
He concluded by stressing the importance of reflecting the demographics of South Africa as well as the values and aspirations of its people within the industry.
There is no closing date for the incubator programme and start-ups will be selected based on merit. The business also has to be 100 percent black-owned and must be an established business to qualify.
Details: For more information or to apply, e-mail [email protected]