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Startup news

  • SA’s first equity crowdfunding platform to launch later this month

    South Africa's first equity crowdfunding platform will be unveiled by ThundaFund founder Patrick Schofield in a soft launch later this month, Schofield confirmed today. Schofield did not want to comment on the launch of the platform, which is expected to take place in Johannesburg, saying only "at this stage, no comment, treading lightly right now :-)" in an email to Ventureburn. However a source said the soft launch is aimed at creating awareness on the platform to those in the media and to startups in search of equity finance. The platform is expected to initially list six startups or projects, the source said. South Africa's first equity...

  • These were 10 startups that competed in the SA finals of Seedstars World

    Last month saw a sold out Seedstars South Africa final at the Standard Bank Auditorium in Rosebank, Johannesburg -- with Cape Town startup EMGuidance clinching top spot. The startup, which solves a critical problem for medical professionals by aggregating medical content from regional experts in one app, beat off nine other startups. The company will now go on to represent South Africa at the Seedstars Global Summit in April next year, and will have an opportunity to compete for $500 000 in investment capital, participation in the Africa Regional Summit and a global network in over 80 countries around the world. Read more: Meet...

  • Startupbootcamp InsurTech fasttracks head to Johannesburg, Cape Town

    Europe’s leading accelerator programme Startupbootcamp is getting geared up to showcase South Africa’s entrepreneurial talent in the global market through the third series of Startupbootcamp InsurTech FastTrack days. The 2017 FastTrack tour will be coming to Johannesburg on 14 August and Cape Town 17 August 2017. These sessions are free of charge and are aimed at giving young InsurTech startups the opportunity to engage with industry experts, Startupbootcamp said in a press release. FastTrack days give startups an opportunity to present their insurance technology related business idea to the Startupbootcamp InsurTech team and industry experts. Sessions are open to innovative early-stage startups specialising in insurance related areas: virtual and augmented reality, blockchain,...

  • XAfricaMart.com marketplace launches with a transaction fee of just 1.2%

    Online B2B marketplace XAfricaMart.com was launched yesterday in Johannesburg, with its CEO Stephen Oehley claiming that the marketplace has one of the lowest transaction fees in the market for suppliers. The marketplace which is aimed at small and growing businesses, will offer sellers and customers a secure payment platform that mitigates online trading risks and non-delivery. Sellers are charged a 1.2% sales success fee. This compares to Amazon which charges a fee of 3.9% for international transactions, eBay which charges a fee of 3.5% or 10% depending on the number of goods listed on the site and Alibaba which charges a 5% fee. XAfricaMart.com also seeks to network businesses up...

  • Seedstars, Enel seeking energy entrepreneurs for Africa Energy Prize

    Global startup competition Seedstars  in collaboration with Enel Group, a global power company, have announced the creation of the Africa Energy Prize. The competition, which is aimed at African startups, is looking for startups that focus on increasing energy access. The collaboration, which was announced on 7 July, will form part of the existing annual Seedstars World Competition.  Seedstars and Enel representatives will evaluate startups' business models and the Enel team will announce the top finalists in December at the RES4Africa event. The winner will be announced at the global Seedstars Summit in Switzerland in April next year, whereupon they will enter Seedstars' three-month growth...

  • SA’s Rehive launches Shopify-type platform for fintech apps

    South African fintech startup Rehive -- which aims to become the Shopify for small companies to build their own fintech apps -- has launched a new platform and series of off-the-shelf products. Rehive's platform allows developers to build, launch and scale their own fintech applications without needing to build the core technology from scratch. Speaking to Ventureburn last week, the US registered startup's co-founder, SA-born Helghardt Avenant, (pictured above, right, with co-founder Michail Brynard) said the startup hosted two hackathon events in Cape Town last month, which attracted about 25 participants in all. The startup plans to continue hosting a hackathon a month for the rest of the...

  • HAVAÍC to undertake a R5m capital raise for SA company Digital Cabinet

    Cape Town venture capital (VC) company HAVAÍC today announced it would undertake a R5-million capital raise for local paperless cloud solutions company Digital Cabinet. The raise includes the conversion of the convertible loan, extended in July last year, into equity. In a press release HAVAÍC said the company had mandated the VC to undertake the capital raise, which is based on the company's estimated valuation having doubled in the intervening period. Read more: VC HAVAIC invests in expanding Digital Cabinet cloud solutions Speaking to Ventureburn, HAVAÍC executive director Grant Rock did not want to disclose Digital Cabinet's current valuation. However he was able to say that the VC firm...

  • Meet EMGuidance, the SA finalist for Seedstars World competition

    A Cape Town startup that developed an app to help doctors to source more reliable information on treatment guidelines and medication dosages among other things, has been chosen to represent South Africa at the next Seedstars World competition. EMGuidance was selected last Thursday by Seedstars World from several startups that competed at the South Africa final held in Johannesburg. Read more: EMGuidance is set to represent South Africa at the Seedstars World finals The startup will now compete against more than 75 startups in Switzerland in April next year for the top prize of $500 000 and will also attend an African Seedstars event in Maputo in November. With the app, which EMGuidance launched...

  • German accelerator opens global call for social ventures that empower women

    Berlin-based accelerator F-LANE has opened a call to social ventures from across the world that utilise technology to empower women. In a press release today, the accelerator, which was initiated by the Vodafone Institute, called on male and female entrepreneurs to apply online to the six-week accelerator programme at www.f-lane.com. The programme begins on 9 October in Berlin and applications are open until 24 July. The accelerator is collaborating with the Impact Hub Berlin and the Social Entrepreneurship Akademie to source innovative technology startups around the world that focus on women, provide an enterprising solution to a social problem and have the potential to make a wide impact. The programme mission is...

  • Three days left to apply for SA Innovation Summit’s pitching den, inventor’s garage

    Startups and small businesses with high-growth potential have until midnight on Sunday (9 July) to apply to pitch at the SA Innovation Summit's Pitching Den competition in September. A competition for inventors, also to be run at the summit, also closes this Sunday. In a press release on Monday, summit director Audrey Verhaeghe said the competitions are an important part of the summit, with finalists and winners exposed to a large number of investors. Judges will select 25 finalists by 24 July to take part in the Pitching Den, which is set for 6 and 7 September. The overall winners will be announced at an...