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Internet Solutions to create new VC fund for web innovation?

It looks like Internet Solutions (IS) may be creating some kind of incubator or venture capital fund to encourage local web innovation and startups. The details are sketchy at this stage, but it in fact looks like the new initiative will launch as soon as this month, possibly middle of the month, with the launch of their website.

I’ve been promised further clarity on the new venture in the coming weeks. I am guessing there is some Ronnie Apteker influence in this, as Ronnie has been travelling the world lately looking at new online ventures to invest in. Apteker was the founder of Internet Solutions and still continues to play a role at the company.

If Internet Solutions are indeed looking at a local incubator, it will be good news for local web industry, which is seeing a raft of new web 2.0 startups from local innovators.

UPDATE: I’ve been told that the new initiative is taking on a role of an “incubator of good ideas” and “getting people to think about the South African internet…” — but with this comes a funding angle, perhaps connecting entrepreneurs with VCs or providing advice, or perhaps funding.


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