Earlier this year BOKS member firm Firstbridge Services launched an initiative called Basement2Boardroom, designed to help local startups scale in a professional environment.

It is a fully-fledged startup incubator programme that aims to support three to five startups every six months in their journeys from ‘basement’ to ‘boardroom’. The programme aims to bridge the gap between a hearty startup and a flourishing company in just six easy steps.

The programme offers a complete hand-holding experience, which can help get even the most disorganised team in order with a tailor-made plan. Via the programme, Firstbridge has already helped numerous companies successfully raise funds and build award-winning startup brands.

The programme is based on the ethos of matching the right working environment by using the right tools and support measures whilst working alongside the most relevantly skilled professionals within the relevant business and industry.

The six steps are as follows:

1. Business Planning & Strategic Objectives
All good businesses start with a clear vision and well-defined objectives.

This phase primarily focuses on business strategy, ultimately, leading to a business plan that studies the following:

  • Identifying Company’s goals & objectives`
  • Defining the core product/service offering
  • Competition & market research
  • Risk Profiling
  • Micro / Macro factor analysis
  • Financial Forecasts & Sensitivity analysis


2. Corporate Structures & Governance
Preparation for what’s yet to come requires a robust and forward-looking corporate setup.

This phase is about:

  • Identifying the most suitable corporate vehicle and framework
  • Drawing up relevant mandatory governmental documents
  • Preparing for future growth in a structured manner
  • Supporting investor and stakeholder involvement


3. Process, Policies & Procedures
Getting one’s house in order allows for scalability and control.

During this phase, the programme focuses on:

  • Setting up Standard Operating Procedures
  • Establishing core business policies
  • Mapping out procedures
  • Visualising an organigram for present and future
  • Defining HR roles & structure


4. Financial Reporting Structure
Accounting & Financial reporting is the most consistent and measurable means to assess performance.

This phase allows the founder to work alongside the professional accountancy team to:

  • Set up a well-suited cloud-based financial reporting (accountancy) software
  • Draw up relevant reporting channels
  • Create an HR & Payroll reporting (if applicable)
  • Set up of accounting processes to support reporting lines


5. Marketing Strategy
Once the vision is set, then the brand must be developed.

Once the brand vision and purpose are clearly defined, the next phase focuses on:

  • Defining a brand strategy
  • Planning for brand launching
  • Identifying appropriate marketing avenues
  • Planning online presence
  • Building a marketing budget and an execution plan


6. Valuation & Fundraising
Like all graduates, ready for the real world, once all has been set startups need to present their offering to launch themselves officially.

The last phase of the programme focuses on drawing an investor-ready pitch worthy of consideration:

  • Preparation of a structured business valuation
  • Identifying appropriate funding channels
  • Compiling an investor pitch deck
  • Mock Pitch Training

In September, three new players will enter the programme following a local startup competition.

If you would like to learn more about the programme, get in touch with Firstbridge at [email protected] or make contact via the form on the Basement2Boardroom website.