Six entrepreneurs who participated in the inaugural Oracle Innovate Lab accelerator programme generated more than E1 million in combined revenue within a year.
This demonstrates the impact of targeted business support on the country’s emerging enterprises.
The achievement was highlighted during the official launch of Oracle Innovate Lab Cohort 2 at the Oracle CX Hub in Mbabane on Wednesday, where programme partners reflected on the progress of the first intake and welcomed four new businesses into the accelerator.
Oracle Innovate Lab is delivered by Thinkroom Consulting, a South African enterprise development firm, in partnership with Oracle Group Eswatini.
The accelerator supports early-stage and growth-stage entrepreneurs by helping them build stronger, scalable and investment-ready businesses.
Thinkroom Consulting Chief Executive Officer Lucie Fink said the first cohort had proved that the programme was more than a pilot initiative, with participating businesses showing measurable growth and improved readiness to access investment.
“When we started this programme a year ago, we had 52 applications. We interviewed 14 and selected six. In year one, those six businesses grew their combined revenue by over E1 million. This created jobs for Eswatini,” said Fink.
She said the first cohort also achieved strong results in confidence-building and business preparedness, with every entrepreneur reporting that the programme met or exceeded their expectations.
The participants also rated their readiness for the programme highly.
Fink highlighted the success of Luna, one of the Cohort 1 businesses, which won an online pitching competition against 14 businesses from Eswatini and South Africa.
She added that three of the six businesses received direct introductions to investors, improving their opportunities for future growth.
“That is not a pilot that survived. It is a model that proved itself,” said Fink.
The CEO said lessons from the first year had informed improvements to the second edition of the programme.
She explained that the team reviewed participant feedback and identified areas where the accelerator could deliver greater value.
For Cohort 2, interest in the programme continued to grow, with 65 applications received.
After interviews with 14 shortlisted entrepreneurs, four businesses were selected to join the latest intake.
“It was difficult because we had amazing entrepreneurs. But when I tell you that the four of you have walked a long journey already with us, we are so excited to have you in our worlds,” said Fink.
Oracle Group Eswatini Head of People’s Experience Rose Hamilton welcomed the new entrepreneurs and described Oracle Innovate Lab as a corporate social responsibility (CSR) initiative designed to operate differently from traditional programmes.
“Oracle Innovate Lab is our CSR at Oracle that we take pride in because it is different,” she said, adding that the programme reflected Oracle’s approach of creating meaningful impact beyond conventional business activities.
Hamilton also recognised the contribution of the outgoing cohort, describing them as pioneers who helped shape the accelerator’s foundation.
“You are the founding cohort. You are the witnesses who will say we got something out of it and paved the way,” she told the entrepreneurs.
One of the first cohort members, Senzo Mathunjwa of Aquaritech, said the programme had transformed his approach to running a business by helping him move beyond the limitations often associated with small enterprises.
“You get assigned a business mentor to provide some guidance to grow the business. The programme pushes you to change your business mindset,” he said.
Mathunjwa started Aquaritech in 2019 as a solo entrepreneur and has since grown the information technology company to employ seven people.
The business provides services including internet connectivity, Wi-Fi solutions, CCTV installation and website development.
Oracle Innovate Lab combines one-on-one mentorship, expert-led masterclasses, pitch preparation, funding-readiness support, networking opportunities and hybrid learning sessions.
It is designed to address challenges faced by SMEs, including limited access to finance, skills gaps, weak business networks and limited exposure to investors and new markets.
Thinkroom has previously worked on entrepreneurship development initiatives locally, including projects involving the World Bank.
Through Oracle Innovate Lab, the partners aim to strengthen local businesses, support job creation and increase the participation of local entrepreneurs in regional and international markets.
Cohort 1 Members
– Precilla Verster — Beef Boys
– Seria Masilela — Luna
– Senzo Mathunjwa — Aquaritech
– Benanile Maphanga — Benanial
– Menzi Mabuza — Carfinity
– Bandile Sinisela — DTS
Cohort 2 Members
– Sakhumuzi Zwane — Global Harvest Hub
– Lucie Ganachaud — Lumi Health
– Palesa Mucivame — EduSphere AI
– Sibusiso Khumalo — liCebo Labs
