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All posts by Stephen Timm: Editor

  • Being an entrepreneur means knowing yourself – Alan Knott-Craig [Extract]

    No one need tell you that to succeed as an entrepreneur is hard work. What many don't tell you is that it takes an acute sense of knowing yourself to succeed where many others have failed. In fact failure may just be part of the process. In this fifth extract from his new book, tech entrepreneur Alan Knott-Craig Junior details how entrepreneurs can go about improving their self-awareness. With permission from Knott-Craig — the founder of Project Isizwe and former Mxit head — Ventureburn is serialising parts of the entrepreneur’s new self-published book 13 Rules for Being an Entrepreneur which is now available via his website http://bigalmanack.com. Ventureburn made five...

  • Fintech Prosperiprop nets over $200 000 in ICO to develop property software

    South African fintech startup Prosperiprop has been able to raise "just over $200 000" through an initial coin offering (ICO) which closed yesterday, the startup's founder Llew Morkel said today. Prosperiprop launched the ICO earlier this year to raise funds from investors to develop software that will help financial institutions to offer property investment products via the Blockchain. Read more: SA’s Prosperiprop responds to poorly performing ICO, adding PROPX NanoChain Responding in an email to Ventureburn, Morkel said the company was able to sell over 600 000 PROPX tokens through the ICO. The ICO, he said, had helped raise "more than enough" money to fund the development...

  • SA’s Ekasi-bucks ICO falls short of R50m target, nets just R500 000

    South African Blockhain consultancy Ekasi-bucks has fallen far short of an ambitious target to raise R50-million in an initial coin offering (ICO) to fund a Blockchain-based rewards programme for township residents that buy from certain affiliated township businesses. Ekasi-bucks' ICO, which kicked off on 25 September, came to an end yesterday. The platform raised just R500 000, the site's co-founder Lucky Kgwadi said today. He however said most of the R500 000 -- which had come from US -- was returned to investors. The platform has retained only about R100 000, netted from non-US citizens -- including investors from India. The R100 000 has none the less allowed the startup to...

  • Everything you need to know about the South African cryptocurrency ecosystem

    A day doesn’t pass without news on the price of Bitcoin, the latest initial coin offering (ICO) or the launch of a new cryptocurrency. With the increasing interest in cryptocurrencies Ventureburn brings you a listing on where to go to get help if you want to invest in, build or simply know more about cryptocurrency in South Africa. While South Africa does not currently regulate cryptocurrencies, the Reserve Bank’s position on virtual currencies is set out in the Position Paper on Virtual Currencies issued in 2014. The bank also recently established a dedicated fintech programme to increase focus and assist the existing working groups...

  • Exclusive: GoMetro ride-sharing service to take on Uber, Taxify, tackle congestion

    Cape Town smart mobility startup GoMetro claims it has the solution to tackling traffic in one of Africa's most congested cities. The company plans to begin trialling a door-to-door ride-sharing service in the city in February, CEO Justin Coetzee revealed today. Speaking at the launch in the city of the Craft and Design Institute's new R12.8-million grants fund for craft and design firms, Coetzee said more details of the first 100-person trial would be announced in February. He said the startup plans to run the trial for its "pop-up service" with a corporate and added the service would allow users to opt for any kind of transport service --...

  • Seedspace in drive to buy up, partner with co-working spaces across world

    Seedstars, the startup competition for emerging markets, is on a drive to acquire or partner with co-working spaces in cities around the world through its Seedspace brand. Three of its 16 planned sites will open in Africa shortly. Nathan Heller, who heads up Seedspace experience and is the founder of Cape Town Seedspace venue Spin Street House, says among the 16 new sites planned, the organisation aims to add sites in Abidjan (Ivory Coast), Cairo (Egypt) and Casablanca (Morocco). Other sites are planned for Quito, Mexico City, Lima, Medellin, Jeddah, Beirut, Naigaon (India), Saigon, Islamabad, Baku, Abu Dhabi, Manila and Hong Kong. Heller could not provide any dates on when the...

  • Alan Knott-Craig book – set yourself up to deal with adversity [Extract]

    In being an entrepreneur you have to deal with adversity all the time. It could be closing that first sale, making a new hire or or even saving your company from liquidation. In this fourth extract from his new book, tech entrepreneur Alan Knott-Craig Junior how you can devise a strategy to benefit from unpleasant shocks to the system. With permission from Knott-Craig — the founder of Project Isizwe and former Mxit head — Ventureburn is serialising parts of the entrepreneur’s new self-published book 13 Rules for Being an Entrepreneur which is now available via his website http://bigalmanack.com. Ventureburn is also giving away five copies of the new...

  • Joburg wedding gift service Wrapistry in R4m deal [Updated]

    Online gift registry startup Wrapistry has signed a deal to secure a R4-million investment from Section 12J venture capital fund Anuva Investments and Genesis Capital. The Johannesburg-based startup's online shop and wedding registry service allows couples to source various gifts -- including both products and experiences such as travel trips. Speaking to Ventureburn last week, Wrapistry CEO Jed Shein, 28, said R2.25-million would be invested upfront by each investor, in return for a 10% stake in the company for each investor. The remainder would be invested upon the achievement by the startup of certain targets in return for a further five-percent stake each. So far the three-year old company has assisted...

  • HAVAÍC announces R4.5m investment in Cape healthtech startup Recomed

    South African venture capital (VC) firm HAVAÍC announced today that it has led a fully subscribed equity raise of R4.5-million in Cape Town healthtech startup RecoMed. The investment was secured by HAVAÍC, the Association for Savings and Investment South Africa's Enterprise and Supplier Development (ASISA ESD) Fund, and Growth Grid Venture Capital Partners. It comes after Recomed founder Sheraan Amod (pictured above) last week revealed that his startup, which he founded in 2013, had been in talks with a funder for a second-round of funding. Read more: SA medical bookings platform Recomed set to announce new funding round The startup recently began white labelling its platform – which allows...

  • Surge in black entrepreneurs, Gauteng challenges Silicon Cape as startup capital

    Gauteng is now home to 44% of tech startup founders -- behind the Western Cape's 47%. The percentage of black startups has risen from 26% in 2015, to 50% this year. Just four percent of black tech startups turn a profit, versus 16% of their white counterparts. Over a quarter of startups plan to raise angel or VC funding, but only eight percent receive such funding. Almost a third say they pay market-related salaries, but pay is the top reason for employees leaving. Successful startup founders are most likely to be white males from the Western Cape. The Western Cape might still be the...

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