Strengthening business ecosystems: Curriculum review and business model development for Fiji entrepreneurs
We worked with Market Development Facility to revamp their incubator program by refining curriculum, training trainers, and developing a sustainable business model, ultimately fostering local ownership and embedding robust business support services in the regional ecosystem.
TDi was one of two Australian providers, selected as a ‘best practice’ provider in Frontier Incubators program, funded by DFAT.
As part of this program we provided training to 20 incubator/accelerator programs from Southeast Asia and the Pacific in best-practice business acceleration. We also worked intensively with two training providers in two countries – Cambodia and Fiji – to build their organisational capacity and strengthen their curriculum.
In Fiji, we worked with the Market Development Facility (MDF) who had just piloted their first incubator program, Fiji Enterprise Engine. We conducted a thorough assessment of their business curriculum. We reviewed their facilitator guides and training materials, interviewed their trainers and participating SMEs. We assessed the strengths, weaknesses and gaps in the curriculum and identified several opportunities for strengthening it – such as adding business model development and assessment, ‘lean start-up’ methodologies for testing and validating the business model, and more applied exercises and peer-to-peer learning (to reduce the amount of lecture-style teaching).
Following this, we worked with the team to develop the new curriculum, clarifying the learning outcomes, the content, mode of delivery, as well as the learning activities. Then we trained the trainers in the new curriculum. When the program recommenced, we observed a significant improvement in the trainers. We provided feedback to each trainer on the strengths of their training and opportunities for further development.
We also supported MDF to design a business model for their incubator program. To do this we interviewed past participants (SMEs) to understand the value proposition of the program and what they would have been willing to pay. We validated this price through interviews with potential new participants. We also interviewed other customers, including corporates and banks, to understand their willingness to sponsor the incubator. At the end of the program, we had worked out a sustainable business and financial model for the incubator, and had in principal agreement from corporates and a major bank, alongside a list of potential new SMEs interested in a partially self-funded place in the program.
As a direct result of this work, the local private sector association also agreed to take on the incubator program within their association, further embedding quality business support services in the local ecosystem.
Read more: We helped strengthen the PNG business ecosystem through our Train the Coach program for women entrepreneurs, increasing the presence and capability of Local Business Coaches to deliver local, sustainable, and inclusive economic benefits.
