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All posts by Daniel Mpala

  • Finance minister Gigaba announces R2.1bn fund for startups

    Finance minister Malusi Gigaba announced at today's 2018 Budget Speech that the government will set aside R2.1-billion for startups. "Work is being done to provide crucial funding to innovative small businesses when they need it most," said Gigaba. "A fund with an allocation of R2.1-billion over the medium term is being developed between the Departments of Small Businesses and Science and Technology, and benefit small and medium enterprises during the early startup phase." "This is an area that has historically had limited support because of the risks involved," he added. The Departments of Small Business, Science and Technology are involved in setting up the...

  • How is MyGrowthFund’s Top40 mentorship programme faring? We talk to participants

    It's been a couple of months since venture capitalist Vusi Thembekwayo announced the 40 high-growth entrepreneurs who had been selected to join the MyGrowthFund Top40 programme. The 18-month long mentorship initiative aims to nurture and assist participants scale their businesses. We look at how the programme is faring. Three-phase programme MyGrowthFund's Top40 programme consists of three main phases. These include the needs analysis phase, strategy formulation phase and the final phase which entails "aggressive transformation" of the business. During the first phase of the mentorship programme MyGrowthFund conducts needs analyses and deep-dives into the participant's enterprises to "identify critical issues and what needs to be done to remedy...

  • Startupbootcamp kicks off FastTracks in Cape Town

    High-growth accelerator Startupbootcamp Cape Town yesterday launched the 2018 Startupbootcamp annual FastTrack World Tour in the city. The tour will now head to Johannesburg on Wednesday (21 February) before moving to Gaborone, Botswana next week Monday (26 February) and Harare on 28 February. The Cape Town FastTrack event saw nine startups, namely Biza, iKasi Property Group, Skillup, NumberBoost, Word of Mouth, Billagain, PaywithShepherd, Timu, and Waves African Exchange participate. The event was hosted at the RCS Group Head Office in Mowbray. "One of the key metrics that Startupbootcamp looks at is that success for startups based on how well we connect startups with corporate contracts, proof...

  • 7 insights we learnt about disruption on the continent at Africa Tech Summit

    Disruptive tech in Africa is "accelerating and picking up speed" and there is a need for people to change their mindsets to keep up. This is according to Ecobank head of research Edward George, speaking at the Africa Tech Summit in Kigali last week Wednesday (14 February). "We are genuinely at the inflection point, so much has changed about the way people have done business. We need to change our mindset as well," said George (pictured above). He said this during a talk titled Stepping Up a Gear: The acceleration of disruptive technology across Sub-Saharan Africa in 2018. Read more: Two-day Africa Tech Summit...

  • EmptyTrips in insurance play with launch of SureFOX offering

    Johannesburg-based online trip exchange platform EmptyTrips has collaborated with Nacora Insurance Brokers to launch SureFOX, an instant on-demand cargo insurance offering. SureFOX allows cargo owners and transporters shipping within, to, and from South Africa to purchase marine and goods-in-transit (GIT) cargo insurance cover instantly and digitally. EmptyTrips announced the launch of the service last week Thursday (15 February) in a statement to Ventureburn. The startup's partner in the service offering, Nacora Insurance Brokers, is a subsidiary of global logistics provider Kuehne + Nagel. "Kuehne + Nagel has arguably the greatest knowledge base of logistics in the world," said EmptyTrips founder and CEO Benji Coetzee (pictured above, left). "The deep...

  • Silicon Cape appoints new leadership and operations team

    Silicon Cape has appointed a new leadership and operations team that will be led by Kerry Petrie as interim general manager and Tumi Boitumelo Menyatswe as ecosystem manager. Silicon Cape chairperson Sumarie Roodt told Ventureburn the appointments were made on Tuesday (13 February). Roodt said the announcement of the new all female "super-star team" is a very proud moment for the organisation as it seeks to drive a transformation agenda in the startup ecosystem, as well as spearhead initiatives aimed at creating a more diverse and inclusive ecosystem. "Having Kerry Petrie at our helm, as our interim general manager, is a major...

  • Two-day Africa Tech Summit now under-away in Kigali

    The Africa Tech Summit Kigali is now under-away after kicking off this morning in the Rwandan capital. The summit aims to explore the major trends in the continent’s tech sector, connect key players and entrepreneurs as well as drive investment into Africa’s tech ecosystem. Speaking on the sidelines of the event, Africa Tech Summit Kigali organiser Andrew Fassnidge said over 350 delegates from 29 countries are at the summit, including investors from Australia, Germany and Russia. Africa Tech Summit Kigali aims to connect, explore and drive investment into the continent's tech ecosystem "We tried to ensure a good mix around investors and companies that...

  • How to access Goodwell’s €20m fund for African startups

    Amsterdam-based impact investor Goodwell Investments last month announced that it had raised €20-million to invest in high-growth African startups. Do you fit the bill and want to get in on that funding? Goodwell Investments marketing and communications director Nico Blaauw (pictured above) gives Ventureburn some insights on how entrepreneurs can go about accessing the funding. Is your business model aligned with Goodwell's objectives? In a statement announcing the fund, Goodwell Investments stated that it invests in businesses "that offer products and services to under-served people to meet their increasing demand for affordable and quality basic products". Blaauw told Ventureburn the investor looks for startups with business models...

  • Silicon Cape: Ellen Fischat and Alexandra Fraser resign

    Ellen Fischat has stepped down as managing director of Silicon Cape, while another long standing member of the organisation's leadership team, director and board member Alexandra Fraser has also resigned. Fraser said the two resignations are unrelated. In a phone call earlier today, Fischat (pictured above) confirmed that she had resigned from the organisation on Monday (5 February). She said she had taken the decision to pursue "a few other opportunities" and that she would be staying in the local tech innovation space. Fischat joined the organisation in May last year, becoming Silicon Cape's first permanent managing director. Read more: New Silicon Cape head pledges to make sector’s...

  • Wealth Migrate set to launch public sale of WealthE coin on 14 March

    Global real estate platform Wealth Migrate is set to launch the public sale of its WealthE coin on 14 March. The South African company launched a token presale of WealthE in December 2017. Read more: Wealth Migrate launches pretoken sale to ‘democratise investing’ "We are in the process of finalising our presale in order to ensure that we have all the safety precautions in place in terms of security for contributors and plan to launch the public sale portion of the token sale on March 14th," Wealth Migrate CEO Scott Picken told Ventureburn in an email. "As you have published before, ensuring that...

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