Venture Building in Namibia
Impact Tank is Namibia’s first social impact venture builder.
A venture builder is often at times compared to a venture capital firm the slight difference is that with venture capital the entrepreneur designs the model/solution where as a venture builder designs the model/solution and then employs an appropriate entrepreneur to run the venture.
Venture building often results in a startup (a venture) which is defined as a high growth, innovative business that generates revenue of N$300k or less and has been in operation for less than 3 years (according to the National definition MSME).
Currently in Namibia we have an abundance of SME’s and a lack of Startups in the ecosystem. We believe both modalities can be enhanced by promoting the startup and entrepreneurship culture within local communities and that is exactly what we do at Impact Tank.
Therefore, what is needed to spur on growth in the venture building ecosystem, is exposure and adoption of the entrepreneurship culture. This is a tool to foster innovation in the mindsets of aspiring entrepreneurs to create a foundation for venture capital.