• BURN MEDIA
    • Memeburn
      Tech-savvy insight and analysis
    • Gearburn
      Incisive reviews for the gadget obsessed
    • Motorburn
      Because cars are gadgets
    • Jobsburn
      Digital industry jobs for the anti 9 to 5!

Startup news

  • The 6 startups to represent Africa at AFIF Entrepreneurship Awards

    Six African SMEs have been nominated to represent their nations at the 2017 Africa Finance and Investment Forum (AFIF) Entrepreneurship Awards. The event is supported by the Rabobank Foundation and will take place at the Strathmore University in Nairobi from the 13 to 16 February 2017. The awards will seek to provide those selected with the necessary support to grow their businesses. The finalists will not only receive free accreditation to join the AFIF's full programme, which includes conferences, training and B2B networking opportunities, but the award winner will also receive a cash prize as well as national and international media promotion...

  • Amazon Project: Nigeria gets own pitching show

    Nigeria will be receiving its own televised SME pitching competition titled The Amazon Project. The show aims to provide entrepreneurs with the necessary ways to take their product to market. AIS Media along with other partners will help entrepreneurs discover new ideas, validate their concepts as well as try to assist them with financial support in the form of investments. The show is accepting applications from thousands of Nigerian startups, who will undergo major scrutiny by a consulting organisation. This same organisation will shortlist businesses who will be selected to pitch their idea on the show. These pitches will undergo further scrutiny from a...

  • The African Business Angel Network’s year in review

    Since the launch of the African Business Angel Network (ABAN) in 2015, there has been a noticeable growth in the amount of Angel Investors. "2016 saw the rise of cross-border collaboration of Angel groups across the continent and an increasing focus on Angel investor education as their investments in startups continued to grow. We also saw a marked increase in the number of Business Angel Syndicates and Networks emerging," said ABAN president, Tomi Davies, in a press release to Ventureburn. According to ABAN, Angel investor groups, networks, as well as initiatives have grown to over 40 across 25 African countries. They've...

  • Bitcoin exchange company BitX rebrands to Luno, launches new products

    SA Bitcoin exchange company BitX, has announced it's rebranding to Luno. Along with the announcement, the company is launching a number of new products. "We believe that decentralised digital currencies like Bitcoin will fundamentally change how the world views and uses money," said the CEO of Luno (previously BitX), Marcus Swanepoel, in a press release to Ventureburn. "Cheaper, faster and safer transactions; more privacy and financial freedom; a significantly better user experience; and ultimately, more equality by giving everyone in the world access to the same financial system. "Our new brand and product offerings are better aligned with this vision and will help drive our...

  • Coworkite: a co-working space for beach bums

    Co-working space, Coworkite has launched in Blouberg, Cape Town. Situated along one of the most popular kitesurfing beaches, their name, location and marketing emphasises the sport's lifestyle. Entrepreneurs can enjoy a workspace on two floors as well as fibre internet, being available for every member. Space at Coworkite also comes with free parking, meeting rooms, and access to expert mentors and investors. The working space offers flexible packages ranging from R850 per month for five days of access, with discounts given to teams, long-term members and early stage startups. The working space also offers entrepreneurs a space for a daily fee of R180 to...

  • Flat6Labs acceleration programme now open in Egypt

    Early-stage investment company, Flat6Labs has announced their participation of the International Finance Corporation (IFC). The IFC and Flat6Labs will now form part of the World Bank's Startup Catalyst initiative and Social Fund for Development (SFD). Cairo-based Flat6Labs will be receiving US$2-million in equity financing from the IFC. Over the next five years, the acceleration programme will then be investing in 100 Egyptian tech startups while supporting over 300 entrepreneurs. The programme, which consists of a four-month accelerator programme, will also provide seed-funding. Flat6Labs will also be providing mentorship, networking opportunities as well as help startups become investment-ready. "We’re very excited to have received the support of IFC,...

  • Africa shines at Endeavor International Selection Panel

    Startup accelerator giant, Endeavor has selected 37 entrepreneurs to form part of their extensive group of Endeavor Entrepreneurs. The entrepreneurs represent 20 companies across 13 countries. They will now form part of the 1403 entrepreneurs who collectively represent 875 companies across 25 markets around the globe. During the selection process held in Palo Alto, panellists from around the world got to interview the participating entrepreneurs about their businesses. This gave the panellists a chance to evaluate them, choosing the entrepreneurs with the most potential for high-impact growth. One of the key deciding factors was the commitment to advancing their respective ecosystems. Once the Endeavor Entrepreneurs were selected, they...

  • Cairo receives £1-million startup investment from UK

    The British embassy has announced a £1-million investment fund to benefit startups of Cairo in Egypt. Entrepreneurs eligible for the fund need to demonstrate that their business is both commercially viable while still serving the needs of the community. They need to be able to create jobs, have suitable opportunities for women as well as support underprivileged regions. Participating entrepreneurs would also have to go the extra mile, showing how their business improves access to public services as well as the delivery of said services. The final selection of entrepreneurs will in the form of a competition with the winners being chosen by an expert panel...

  • Meet the entrepreneur who just snared $350m to slaughter Uber

    "The idea was not just to build a big business, but start one that would have a big impact," explains Mudassir Sheikha, co-founder of ride-hailing startup Careem. "We wanted to improve the lives of thousands of people and change society for the better." And it seems like Mudassir’s on track to succeed on both fronts. Careem’s now the newest ride-hailing unicorn – it announced today that it’s pocketed a substantial US$350 million from a slew of investors including Rakuten and Saudi Telecom. The funding round is the single largest investment in any startup from Dubai. And there still might be more...

  • Bottles pops cork after R500 000 Shark Tank investment

    On-demand alcohol delivery app, Bottles has successfully pitched their business on Shark Tank SA and walked away with an investment of R500 000. Their investment comes at a 10% stake in their business after the co-founder of The Creative Council, Gil Oved found Bottles model to be a profitable investment. The alcohol delivery app allows users to choose from their favourite beers, spirits and wines to be delivered to their door within 60-minutes. "Attending Shark Tank SA has been an incredible experience for us, we prepared for days on end, watching every past episode of the show available online to make sure we...