An Empowering Collaboration
South Africa’s Mineworkers Investment Company (MIC), a fully black-owned, broad-based investment holding company, has joined forces with the GrindstoneX accelerator program. This strategic partnership aims to provide critical funding to promising ventures, particularly focusing on women-led startups.
Background of MIC: A Legacy of Empowerment
Established in 1995 by the Mineworkers Investment Trust (MIT), the MIC was created to build a sustainable asset base benefiting mine, energy, and construction workers, along with their dependents. Over the years, MIC has become a significant player in fostering economic development and supporting workforce initiatives.
GrindstoneX: Accelerating Female Entrepreneurship
Founded in 2013, Grindstone has earned its reputation as a catalyst for high-growth, innovation-driven companies, thanks to its founders Knife Capital and Thinkroom Limited. The GrindstoneX program, an extension of Grindstone, is specifically designed to enhance the investment readiness and scalability of women-led startups.
The Third GrindstoneX Program: A New Opportunity
The third iteration of GrindstoneX is set to make a substantial impact by offering pre-Series A funding from MIC to the top four women-owned startups at the program’s conclusion. This initiative underscores a commitment to nurturing female entrepreneurship and accelerating business growth.
Applications Open: A Call to Action
Startups interested in participating in this transformative program can apply now. This initiative presents a unique opportunity for women entrepreneurs to gain the resources and support needed to elevate their businesses.
Impact and Vision: Voices from the Partnership
Catherine Young of Grindstone expressed enthusiasm about the collaboration, stating, “We are thrilled with the progress we’ve made and the impact we’ve had on the entrepreneurial landscape to date. The partnership with MIC allows us to continue driving impact and momentum.” She emphasized that the program’s focus remains on empowering female-led startups to achieve substantial growth and long-term sustainability.
