In a significant boost for the burgeoning entrepreneurial ecosystem in Eswatini, Thinkroom Consulting and The Oracle Group have officially announced the launch of the Oracle Innovate Lab. This pioneering business accelerator program is set to ignite innovation and drive sustainable growth among early and growth-stage entrepreneurs across the Kingdom, with a particular focus on the transformative potential of financial technology (fintech). The initiative represents a deepening commitment from The Oracle Group to foster local business development, leveraging Thinkroom’s proven expertise in capacity building to empower Emaswati founders to scale their ventures and confidently step onto the global stage.

The Oracle Innovate Lab, a six-month hybrid program, is meticulously designed to bridge critical gaps in the Eswatini entrepreneurial landscape. Commencing in August 2025, it will offer a comprehensive blend of one-on-one mentorship, intensive hands-on masterclasses, and practical business sessions. This multi-faceted approach aims to equip founders with the essential tools, knowledge, and networks required to build robust business models, refine their pitch, and achieve purposeful growth. The hybrid format, combining online learning modules with vital in-person connection opportunities, strikes a crucial balance, ensuring both broad accessibility and a high level of accountability for participants.

Addressing Eswatini’s Entrepreneurial Needs: A Deep Dive

Eswatini, a nation rich in untapped potential and ambitious individuals, has witnessed a steady rise in entrepreneurial spirit. However, the journey for many local founders remains fraught with systemic challenges. Access to deep, specialized support, crucial seed capital, and practical, cutting-edge business education has historically been limited. Many aspiring and existing entrepreneurs find themselves navigating the complexities of business growth without the comprehensive tools or the expansive networks necessary to break through to the next level. This reality often translates into a high mortality rate for startups and SMEs, stifling economic diversification and job creation.

The Oracle Innovate Lab is specifically engineered to close this critical gap. “Founders in Eswatini are not short on innovation, grit, or drive. However, they need the support infrastructure around them to take that next big step,” explains Catherine Young, founder of Thinkroom. “With Oracle Innovate Lab, we are creating a space where we can intentionally build growth in ten high-potential SMEs. This partnership with Oracle is an example of what it means to build meaningful growth with partners who want to make real impact. We are excited to kick off our first cohort with the Oracle Innovate Lab.”

The program’s design reflects a deep understanding of these local nuances. It is tailored specifically for Emaswati founders who demonstrate a readiness for hard work and a clear vision for tangible results. While entrepreneurs from all sectors are encouraged to apply, a strategic preference is given to Small and Medium-sized Enterprises (SMEs) in the fintech sector whose solutions align with Oracle’s broader strategic objectives. This emphasis on fintech underscores the global trend of digital transformation and its potential to revolutionize financial services, enhance inclusion, and drive economic diversification within developing economies like Eswatini. Fintech, in particular, holds immense promise for Eswatini by addressing prevalent issues such as financial exclusion, facilitating seamless digital payments, and enabling access to credit for underserved populations.

Sebastian Patel, co-founder and COO of Franc Group, a successful fintech venture that has previously benefited from a Thinkroom-led program, strongly endorses the initiative. “Having been a participant in a Thinkroom-led entrepreneurial development programme, I would strongly encourage all qualifying founders, especially those in fintech, to apply to this programme,” says Patel. “Access to support, mentorship, and network can be a game changer.” His testimony highlights the real-world impact that structured development programs can have on entrepreneurial success, particularly in sectors as dynamic as fintech. Such programs provide not just theoretical knowledge but practical guidance on navigating regulatory landscapes, attracting investment, and scaling operations—critical components often missing in informal entrepreneurial ecosystems.

The Oracle Group’s Deepening Commitment to Local Businesses

The Oracle Group, a global technology powerhouse renowned for its integrated suites of applications and secure, autonomous infrastructure in the Oracle Cloud, has maintained a long-standing presence and commitment to supporting businesses in Eswatini. This new initiative, the Oracle Innovate Lab, represents a significant escalation of that commitment, transforming Oracle’s local footprint into a pivotal hub for entrepreneurial development.

“Oracle Innovate Lab is a call to action for local founders,” states David Takis, CEO of The Oracle Group. “At Oracle, our mission has always been to support local businesses in solving real problems. This programme has been specifically designed to give founders the tools, access, and support they need to grow and become the next generation of entrepreneurs shaping the Eswatini economy.” This statement encapsulates Oracle’s vision: to not only provide technological solutions but also to actively cultivate the human capital and innovative spirit essential for a thriving economy.

Oracle’s involvement brings invaluable resources to the table. Beyond financial backing, the participating SMEs will gain potential access to Oracle’s vast technological ecosystem, including cutting-edge cloud infrastructure, enterprise software solutions, and a global network of experts. This can be particularly transformative for fintech startups, enabling them to build scalable, secure, and robust solutions that meet international standards. The transfer of knowledge and best practices from a global leader like Oracle is a rare opportunity for Eswatini’s local businesses. The program’s alignment with Oracle’s strategic objectives suggests a potential for future collaborations, integrations, or even investment opportunities for the most promising ventures within the cohort. This direct engagement with a global tech giant provides a unique pathway for Eswatini’s startups to gain visibility, credibility, and potentially integrate into larger value chains. Oracle’s commitment to supporting local innovation extends beyond Eswatini, forming part of its broader strategy to foster digital transformation and economic growth across the African continent, as evidenced by its various initiatives and partnerships in regions like Kenya and South Africa.

Thinkroom Consulting: A Proven Track Record in SME Development

The operational backbone and pedagogical expertise for the Oracle Innovate Lab are provided by Thinkroom Consulting, a highly respected SME capacity builder. Thinkroom’s core mission revolves around providing market access to entrepreneurs through carefully designed programs and interventions. Their impressive track record includes partnerships with a roster of large corporates and institutions, such as Standard Bank, Absa, The World Bank, and Hitachi Construction Machinery Southern Africa. Through these collaborations, Thinkroom has successfully delivered entrepreneur development programs across more than 20 countries, demonstrating their global reach and adaptability.

Thinkroom’s involvement extends beyond direct program delivery. They are also a 50% partner in Grindstone, a well-regarded structured entrepreneurship development program, and a 50% partner in Grindstone Ventures, a post-seed, pre-Series A fund. This dual involvement highlights Thinkroom’s holistic approach to supporting entrepreneurs, from foundational development to securing crucial early-stage funding. Their experience in identifying high-potential businesses and guiding them through critical growth phases makes them an ideal partner for The Oracle Group’s ambitious vision for Eswatini. Their methodology, which emphasizes practical, hands-on learning and direct mentorship, aligns perfectly with the stated goals of the Oracle Innovate Lab. Thinkroom’s approach often involves a blend of theoretical frameworks and practical application, ensuring that entrepreneurs not only understand concepts but can also implement them effectively within their businesses. Their network of mentors, drawn from various industries and with deep entrepreneurial experience, provides invaluable guidance, helping founders navigate challenges and seize opportunities. More information about Thinkroom Consulting and their extensive work can be found on their official website: https://thinkroom.co.

The Eswatini Entrepreneurial Landscape: Challenges and Opportunities

Eswatini, like many developing nations, recognizes the pivotal role of SMEs in driving economic growth, creating employment, and fostering innovation. The government of Eswatini has expressed commitments to supporting local businesses as part of its broader economic development strategy, aiming to diversify the economy beyond traditional sectors. However, significant hurdles persist, often hindering the full realization of entrepreneurial potential. These often include:

• Limited Access to Finance: Traditional banking systems in Eswatini may be risk-averse towards startups and SMEs, making it difficult for entrepreneurs to secure loans or crucial equity investment. Angel investors and venture capital firms are still nascent, creating a significant funding gap for early and growth-stage businesses.
• Skills Gap: While innovation is present, there can be a lack of specialized business management skills, advanced market access strategies, and cutting-edge technological expertise. This often necessitates external training and mentorship to bring local businesses up to competitive standards.
• Market Access: Local markets can be relatively small, limiting growth potential for businesses that do not quickly scale beyond Eswatini’s borders. Navigating regional and international markets requires specific knowledge of trade agreements, logistics, and cultural nuances, which many local entrepreneurs lack.
• Regulatory Environment: Complex or slow bureaucratic processes for business registration, licensing, and compliance can create significant barriers to entry and operation, particularly for new ventures. Efforts are underway to streamline these processes, but challenges remain.
• Infrastructure: While improving, access to reliable and affordable internet, particularly in rural areas, can still be a significant barrier for tech-driven businesses and those seeking to leverage digital platforms for growth. Consistent power supply and logistical infrastructure also play a role in business efficiency.

Despite these challenges, Eswatini presents unique opportunities. A relatively stable political environment, a young and increasingly tech-savvy population, and a growing recognition of the importance of digital transformation create fertile ground for entrepreneurial ventures. The focus on fintech within the Oracle Innovate Lab is particularly timely. Fintech solutions can address financial inclusion gaps, streamline payment systems, facilitate cross-border trade, and create new avenues for lending and investment, all of which are critical for Eswatini’s economic advancement. The National Development Strategy of Eswatini often emphasizes private sector-led growth and the promotion of a knowledge-based economy, making initiatives like the Oracle Innovate Lab directly aligned with national objectives. The government’s push for a digital economy and increased financial inclusion creates a supportive policy environment for fintech innovations.

Program Structure and Expected Outcomes: A Roadmap to Success

The Oracle Innovate Lab’s six-month program is meticulously structured to provide a holistic growth experience. The “one-on-one mentorship” component pairs participating founders with seasoned industry veterans and successful entrepreneurs who offer personalized guidance, strategic advice, and practical insights tailored to each business’s unique challenges and opportunities. These mentors act as sounding boards, problem-solvers, and connectors, leveraging their extensive networks to open doors for the SMEs.

The “hands-on masterclasses” delve into critical business areas, moving beyond theoretical concepts to practical application. Topics will likely include advanced business model refinement, effective market entry strategies, digital marketing for scale, financial management and fundraising, legal and compliance frameworks, and human resource development. These sessions are designed to be interactive, allowing founders to apply learnings directly to their businesses.

“Practical sessions” complement the masterclasses by providing real-world simulations, pitch practice sessions, and opportunities for direct engagement with potential investors, corporate partners, and customers. This iterative feedback loop is crucial for refining business strategies and improving market readiness. The hybrid format, combining online learning modules with vital in-person connection opportunities, ensures both broad accessibility across Eswatini and a high level of accountability through regular check-ins and collaborative workshops. This blend allows entrepreneurs from different regions to participate while still fostering a strong sense of community and peer learning.

The expected outcomes for the ten high-potential SMEs selected for the program are ambitious yet achievable. Participants are anticipated to:

• Develop robust, scalable business models with clear pathways to profitability.
• Refine their value propositions and go-to-market strategies.
• Significantly improve their pitching skills, enhancing their ability to attract investment.
• Expand their professional networks, gaining access to potential investors, partners, and customers.
• Increase their operational efficiency and capacity for growth.
• Potentially secure follow-on funding or strategic partnerships.
• Ultimately, contribute to job creation and economic diversification within Eswatini.

Broader Impact and Vision for African Entrepreneurship

The launch of the Oracle Innovate Lab in Eswatini is not just a local story; it resonates with a larger narrative of entrepreneurial growth and digital transformation sweeping across the African continent. Across Africa, business accelerators and incubators are emerging as vital engines for economic development, fostering a new generation of innovators and job creators. These programs are crucial for:

• Job Creation: SMEs are often the largest employers in developing economies, and supporting their growth directly translates into more jobs, particularly for the continent’s rapidly expanding youth population.
• Economic Diversification: By nurturing new industries, particularly in technology and digital services, countries can reduce their reliance on traditional sectors like agriculture or mining, building more resilient and future-proof economies.
• Innovation and Problem Solving: Local entrepreneurs are uniquely positioned to identify and solve local problems with innovative solutions, often leveraging technology to address challenges in areas like healthcare, education, logistics, and financial services.
• Attracting Investment: Successful accelerator programs can act as a magnet for further local and international investment, creating a virtuous cycle of growth. They de-risk early-stage ventures by providing validation and structure, making them more attractive to investors.
• Building a Knowledge Economy: By providing education, mentorship, and access to advanced technologies, these programs contribute to building a more skilled and knowledgeable workforce, essential for future economic competitiveness in a rapidly evolving global landscape.

The partnership between a global technology giant like Oracle and a specialized capacity builder like Thinkroom exemplifies a powerful model for public-private collaboration in fostering economic development. Such collaborations are increasingly recognized as essential for sustainable growth in emerging markets, allowing for the transfer of global best practices and resources to local contexts. The success of programs like the Oracle Innovate Lab could serve as a blueprint for similar initiatives across Southern Africa and beyond, demonstrating how targeted support can unlock significant entrepreneurial potential and contribute to the continent’s broader economic aspirations. This aligns with the growing narrative of “Africa rising,” driven by its youthful demographic, increasing digital penetration, and a vibrant entrepreneurial spirit.

Applications Now Open: Seize the Opportunity

For Emaswati founders ready to take their businesses to the next level, the opportunity is now. Applications for the inaugural cohort of the Oracle Innovate Lab are officially open and will close on July 23, 2025. SMEs who are poised for significant business growth and are eager to benefit from unparalleled mentorship, practical education, and strategic networking are strongly encouraged to apply. This program offers a unique chance to gain the tools, access, and support needed to not only grow individual businesses but also to contribute to shaping the future economic landscape of Eswatini.

Interested entrepreneurs can find more information and submit their applications directly through the official portal for the program. The application link is available on the Eswatini Positive News website, which provides comprehensive details about the program and the application process.

About Thinkroom Consulting

Thinkubate is powered by Thinkroom Consulting, an SME capacity builder focused on providing market access to entrepreneurs through specific programmes and interventions. Thinkroom partners with large corporates and institutions (such as Standard Bank, Absa, The World Bank, and Hitachi Construction Machinery Southern Africa) to deliver entrepreneur development programmes to 20+ countries. Thinkroom is a 50% partner in Grindstone, a structured entrepreneurship development programme, and a 50% partner in Grindstone Ventures, a post-seed, pre-Series A fund.

For more information, visit: https://thinkroom.co.

About Oracle Innovate Lab

The Oracle Innovate Lab, powered by Thinkroom and backed by Oracle Group Eswatini, is a business accelerator designed to support high-potential entrepreneurs in Eswatini. Through hands-on mentorship, targeted training, and strategic networking, the Oracle Innovate Lab empowers Swazi businesses to scale sustainably while driving economic innovation and impact across the region.

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photo source: Google

By: Montel Kamau

Serrari Financial Analyst

11th July, 2025