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Startup news

  • Innoventures ends year on $1.6m high note

    SME developer and accelerator Innoventures has announced the launch of their US$1.6-million fund, named Innoventures Fund 1. Innoventures' CEO Hesham Wahby made the announcement alongside the launch of their workspace in Alexandria, dubbed IdeaSpace-Borg. The startup accelerator, in partnership with VC4A, has also awarded top startups during their Reactor competition where three startups from Africa won prizes up to €10 000. "The winning startups have our commitment towards providing them with investments either by networking with investors or directly from us," said acceleration programme manager at Innoventures, Nourhan Ghanem in a press release. Zerowaste Technologies, the winner of Innoventures Reactor, is an eco-friendly...

  • Cognition.online launches tutor booking, paying platform for students

    Edutech startup Cognition.online, which facilitates the booking and paying of tutor services in SA, has gone live. Cognition.online was also announced as the winner of the Samsung Launching People - Mixed Talents competition. "It allows parents and students to find tutors in their area by subject specialisation, book lesson times and pay easily. Tutors can accept bookings via the app and receive their payment from Cognition.Online. Parents and tutors are free to negotiate fees and both tutors and pupils can be rated by the system," says the director of brand and marketing & communications at Samsung South Africa, Michelle Potgieter, in a press release...

  • Smorgasbord is the food startup incubator you’ve been waiting for

    Coming into full force next year, Smorgasbord is an organisation dedicated to supporting and incubating food startups. Smorgasbord is dedicated to building and sustaining the food and beverage sector in SA through their platform dubbed Feasts. This platform will give aspiring entrepreneurs in the food industry a way to showcase their products and skills. These Feasts will be running throughout the major hubs of SA such as Cape Town, Johannesburg, Durban, Bloemfontein and Pretoria. Furthermore, Feasts will be running throughout the new year from 25 March all the way through to November 2017. The team behind Smorgasbord have also aimed at getting...

  • Kasha comes out tops at Seedstars Rwanda

    Women's health startup, Kasha has won the Rwandan round of the Seedstars World competition and will go on to represent the nation in the finals. The final pitching competition will take place at the Seedstars Summit in Switzerland. Here, they will compete with the other winners to win up to US$1-million in equity investment. The Rwandan winner, Kasha is a startup which delivers female health products through their accessible retail mobile platform. They took the crown for Best Startup due to their online and offline solution. "Kasha exists because women are the biggest business opportunity and the way women access health products today is an...

  • TEF Entrepreneurship Programme now accepting applications

    The Tony Elumelu Foundation (TEF) has announced that they will now be accepting their third round of applications from 1 January 2017. TEF is an entrepreneurship programme which aims to provide a long-term foundation using investments to empower young African entrepreneurs. The foundation is marking its 10-year anniversary with a US$100-million commitment to training and mentoring 10 000 African entrepreneurs. "I believe the seeds we are planting through the programme will transform Africa. Two years on, it is clear that we have found a key to unlocking Africa's potential for economic transformation," said TEF founder, Tony Elumelu in a press release. "As our entrepreneurs...

  • 2016 ABAN Investor Masterclass Series set to conclude

    The 2016 ABAN Investor Masterclass Series will see early-stage investors gathering in Cairo as well as Lagos next week to discuss and share best practices at Early Stage Investor Masterclasses. These masterclasses will conclude the 2016 ABAN Investor Masterclass Series which consisted of other bootcamps and classes all around the world. The Cairo Masterclasses will take place on 6 December 2016 at the Cairo Mariott Hotel Zamalek while the Lagos Masterclass will take place on 10 December at The Wheatbaker Lagos. Both events are organised by VC4A and Rising Tide Africa as well as the Lagos Angel Network. Speakers include the president of EBAN,...

  • Three SA startups selected for international accelerator

    Three SA startups have been accepted into the Startupbootcamp InsurTech startup accelerator, which will take place in London in 2017. The selection process took place on 29 and 30 November, where ten finalists in total were selected. The three SA finalists, Aerobotics, Emerge Analytics, and NuvaLaw, were selected out of 633 total applications at first. They were then up against 20 other ventures during the selection process for the positions. All ten startups will take part in the Startupbootcamp InsurTech startup accelerator programme, which will last for three months. There, they will collaborate with over 400 mentors, partners, and investors in order to build...

  • Who won big at EY SA World Entrepreneur Awards?

    The EY SA World Entrepreneur Awards has concluded its 2016 running, with Super Group's CEO, Peter Mountford, winning the award in the Master category. Broad-based supply chain management business, Super Group will go on to represent SA in Monte Carlo in June 2017 at the EY World Entrepreneur Of The Year Awards. Here, they will compete alongside more than 50 other entrepreneurs from around the world. During Mountford's time, he has turned the company around from a loss of R1.3-billion and within 18 months brought the company back to a profitable level. Ran Neu-Ner and Gil Oved, a group of co-CEOs and entrepreneurs of The Creative Counsel...

  • Ducere Holdings on winning R1m in Green City Startup competition

    Earlier this month, car-based startup Ducere Holdings took home the R1-million prize at the Green City Startup competition in Johannesburg. The company created the MISER Hydraulic Hybrid Transmission Systems for vehicles, which is able to save up to 70% of fuel usage, and reduce CO2 emissions. Ventureburn had a chance to catch up with Andre Reyneke (pictured top right), MD of the startup, to find out how the company will be using their prize money and new-found business fame. When asked about asked why Ducere Holdings was entered into the competition, Reyneke didn't sugarcoat his answer and said the prize and marketing were draw...

  • Zebra Cabs: taxi service gets R300m injection

    Minibus financing service, SA Taxi has secured a R300-million investment from Futuregrowth Asset Management, it announced this week. The funding will go toward financing the Zebra Cabs owner-driver scheme. SA Taxi acquired Zebra Cabs in 2015, with a view to expanding the service in the face of Uber's popularity. SA Taxi's capital markets director, Mark Herskovits explained that the company was looking for ways to leverage their business model. They decided that their metered-taxi business model was best-placed to scale effectively. "We will consider seeking additional funding sooner if required, but we first want to build scale in the key area of Johannesburg to achieve...