• 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

  • Potential in African tech ecosystem, we will be back – Airbus BizLab head

    Airbus Bizlab head Bruno Gutierres told Ventureburn that his trip to Africa is an "observation survey" to confirm what potential there was in Africa. On Thursday (21 September) Gutierres (pictured) along with a team from Airbus Bizlab and Silicon Cape head Ellen Fischat visited RLabs, LaunchLab, CITI Workshop 17 and the MTN Solution Space as part of a tech tour of the local ecosystem. "What I have seen here today and by visiting several incubators like Launchlab in Stellenbosch, the ones in the township, there's some very different innovation which is of interest to us," said Gutierres. "This confirms that the potential is there....

  • French South African Tech Labs opens calls for applications to second cohort

    Cape Town-based incubator and accelerator French South African Tech Labs (FSAT Labs) has opened calls for applications to its second class of entrepreneurs, with applications set to close on 20 October. To apply, interested tech entrepreneurs have to fill in an application form, build a pitch deck, and e-mail the submission documents to FSAT Labs. Selected startups will be invited to a pitch competition at Africarena Conference 2017, where the top three pitches will win entry into FSAT Labs' six-month programme set to kick off in early November. The programme aims to help the selected entrepreneurs turn their ideas into minimum viable products and ultimately sustainable...

  • Here are the 11 startups pitching at Seedstars Douala 2017

    The Seedstars World team this week heads off to Douala for the Cameroon leg of its world tour, where 11 of Cameroon's most promising seed-stage startups will pitch for an opportunity to represent the country at the regional and global Seedstars Summits. The 11 startups, which were announced yesterday (Monday 25 September) after a pre-selection round, will pitch in front of an investment panel on Friday (29 September) at ActivSpaces in Douala. Seedstars Douala 2017 will take place on Friday 29 September The winning startup will take part in the regional and global Seedstars Summits and will get to participate in a...

  • Fintech startup MaTontine wins Seedstars Dakar, a shot at $1-million in funding

    Senegalese fintech startup MaTontine was last week crowned winner of Seedstars Dakar, giving it the opportunity to represent the country at the Seedstars Summit in Switzerland next year April. MaTontine provides financial services through the digitisation of traditional savings circles. The startup won the opportunity to attend the Seedstars Summit where it will participate in a week-long training programme, gain access to investors and mentors from around the world, as well as pitch for up to $1-million in equity investment and other prizes. MaTontine pitched against eight other startups at an event held on Friday (22 September) in Dakar. Agriculture finance platform Bayseddo...

  • Startup Cargonaught off to France after winning Airbus BizLab AEROmobility pitch

    Cape Town-based airship startup Cargonaught has won the Airbus BizLab AEROmobility pitching competition. The startup beat six other startups to clinch an all expenses paid trip to France and Germany, where the company will meet experts from Airbus and get technical support for three-months thereafter. The other finalists to pitch at the event held at the Bandwitdth Barn in Cape Town include: space optics startup Simera Technology Group, drone startup Tai Corporation, Think Big Solutions, Hi-Fly Marketing, space tech startup New Space Systems and data analytics startup Aerobotics. Global aerospace accelerator Airbus BizLab held the challenge in collaboration with Silicon Cape. Judges at the event...

  • Meet 22-year-old who landed R1-million in seed funding for KnektMe app

    At just 22-years-old, college dropout Carl Visagie is hoping that his social networking app KnektMe turns big, following R1-million in seed funding the startup received from an Israeli angel investor. The app scans for other KnektMe users in close proximity, using a device's Bluetooth connection. This allows entrepreneurs and investors who attend an event for example to identify those that they might be able to network with before meeting them in person. "It's almost like a cheat sheet," says Visagie. "The idea is to see what they (other investors or entrepreneurs) do before meeting them," he says, adding that users are then able to...

  • Black-owned startup responds on Adapt IT buyback it made at 90% discount

    The founder of black-owned startup Uyandiswa Amanda Dambuza says there is nothing untoward in a deal to buy back JSE-listed Adapt IT's 49% stake in her company at a 90% discount. "I have also read your article, which somehow seeks to tarnish the reputation of our businesses, that I find unfortunate and completely unfounded," Dambuza said in an email to Ventureburn today following the publication by the site of an earlier story on the deal. Read more: Questions raised as Adapt IT sells stake in black startup for ‘90% discount’ She attributed the 90% discount in the buyback deal -- which took effect from 1 July --...

  • Questions raised as Adapt IT sells stake in black startup for ‘90% discount’

    Three years after it bought a 49% stake in black-owned project management consultancy Uyandiswa and built the firm up to an almost R100-million a year company, JSE-listed IT firm Adapt IT has sold its stake back to the black-owned startup -- at a whopping 90% discount. The sale was announced yesterday in a press release from Adapt IT, which said the deal was effective from 1 July 2017. Adapt IT said the buyback concluded a "successful enterprise development programme" during which Adapt IT took Uyandiswa, then a two-person business in 2014, and helped build it into an "80 person-strong firm with a turnover...

  • Standard Bank partners with INV Fintech accelerator, here’s how you can apply

    With the deadline for the next cohort just a week away, global fintech accelerator INV Fintech has announced that Standard Bank has joined its programme as a partner. In a press release on Tuesday (19 September) the accelerator said as part of the partnership, Standard Bank will provide mentorship and assist in conducting market trials. In addition, the bank will also be able to invest and acquire startups in the accelerator. The application deadline for the next cohort is on 28 September. The US-based post-seed stage accelerator was launched in 2015 in a partnership between fintech news service Bank Innovation and financial services company Fiserv. The application deadline...

  • Visa sees major competition as cash, not fintech startups, says digital director

    With cash making up 94% of financial transactions in Africa there is a plenty of opportunity for the fintech sector on the continent -- says John Conlon, digital director at Visa Performance Solutions for Central Europe, Middle East and Africa. “The key message is partnering with fintech (startups). Open platforms and partnerships is the way forward,” said Conlon (pictured above). Speaking to Ventureburn on the sidelines of the Visa Merchant Forum that took place yesterday in Cape Town, Conlon said Visa has created over 100 application programming interfaces (APIs) which fintechs could access. An API is a tool that allows developers to access the IT...