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Startup news

  • All sunshine for Mobisol after €14m in investments

    Solar power company, Mobisol has acquired large investments from the International Finance Corporation (IFC), as well as from the Dutch development bank. The IFC has invested €5.42-million in equity while the AEF and MASSIF Dutch government fund has invested €9.2-million. "Our partnership with IFC and FMO, alongside Investec Asset Management marks an important milestone in the growth history of Mobisol. We are excited by the value such a reputable list of global investors stand to bring to Mobisol. We can now concentrate on scaling and even better serving our customers," said founder and CEO of Mobisol, Thomas Gottschalk in a press release. According to...

  • Startup with an education focus? This contest might be for you

    The Jacobs Foundation's TRECC initiative, in partnership with Seedstars World, has launched a new competition to find innovative startups with education-focused ideas and services. The competition is focused on ideas and services for rural areas. Startups participating in the competition, called the TRECC Rural Distribution Contest, could win a prize of US$1000. "Rural distribution challenges often limit access to quality education for the communities that need it most, further exacerbating social inequalities," said the company in a press release to Ventureburn. "We want to better understand how education systems -- as well as education entrepreneurs -- can leverage existing distribution networks or create socially responsible...

  • Amavulandlela Fund launched for disabled entrepreneurs

    A new fund, dubbed the Amavulandlela Fund, has recently been announced, focusing on supporting entrepreneurs with disabilities. The Amavulandlela Fund will be made up of a R24-million loan funding component as well as a R6-million business support grant.  Aside from individual disabled entrepreneurs, the fund will also be made available to companies and cooperatives of which 26% of people with physical disabilities have a stake in the company. People with physical disabilities will also need to have managerial positions and adequately display that they are active and are recognised in their positions. The funding scheme, announced by Minister of Small Business Development (SBD) Lindiwe Zulu,...

  • 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...