• 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

  • Fewer than one in five SA entrepreneurs applied for finance in last year – survey

    Ask any business owner what their top need is and they'll say -- "finance". Yet fewer than one in five entrepreneurs applied for finance from banks or other funding institutions in the last year, a survey released today revealed. The survey, carried out by Seed Academy -- a division of ICT accelerator Seed Engine -- sampled 1 200 entrepreneurs. In a press release, Seed Engine CEO Donna Rachelson, said that only 18% of the surveyed entrepreneurs have in the last year attempted to get funding from banks or funding institutions like the Industrial Development Corporation or the Department of Trade and Industry. “Some entrepreneurs indicated that they simply don’t know where...

  • Just 26% of business loans by SA banks go to SMEs reveals OECD survey

    Just 26% of business lending by banks in South Africa go to startups and SMEs, which is lower than in a number of other rich and emerging economies, a survey released by the OECD yesterday revealed. The finding is one of a number presented by the OECD, which said the country needed to boost entrepreneurship -- which is low compared to other emerging economies -- if it is to create more jobs. While South Africa's level of SME loans as a percentage of business lending by banks is similar to that of Colombia (26%) and higher than the US (22.1%), UK (22.5%) or Chile...

  • Looking to go global? Start-Up Chile opens applications for new cohort

    Startups looking to base themselves in Chile and benefit from funding and accelerator support have until 5 September to apply to join Start-Up Chile's latest cohort. Applications for the six-month acceleration programme's Generation 19 opened last week Tuesday. Early-stage entrepreneurs from around the world who will contribute to Chile’s startup ecosystem can apply. Start-Up Chile will announce the names of those selected for the next cohort on 1 December and the programme will start in February. Startups that are selected will get access to a $30 000 equity-free grant, receive a one year work visa, have up to 90% of programme costs covered by Start-Up Chile and benefit from a free...

  • Two years on tax exemption for grants to small businesses fails to take off

    More than two years after it came into effect, a tax exemption for entities approved by the SA Revenue Services (Sars) that provide grant funding to small businesses has failed to take off. The tax exemption has been in effect since March 2015, yet only a single entity has applied for and received approval from Sars commissioner Tom Moyane (pictured above, left with Finance minister Malusi Gigaba) to operate as a small business funding entity. Under Section 10 (1) (cQ) of the Income Tax Act such entities that provide small businesses, including startups, with grants have since March 2015 been exempt from paying tax. The provision was included in the...

  • TIA-backed startups have two weeks left to apply for Young Enterprise Initiative

    Young South African entrepreneurs who have received support or funding from the Technology Innovation Agency (TIA) have two weeks left to apply for the Young Enterprise Initiative South Africa (YEI South Africa) 2017 programme. Applications close on 7 August. The programme, held by the French Embassy in South Africa and TIA aims to provide four South African startups with an opportunity to develop and grow in France. To be eligible for support applicants have to have companies that are at the early-revenue or pre-commercialisation stage that have been funded by TIA or that have participated in one of the agency's programmes. In an announcement last week on the French Embassy...

  • Grotech rebranding as Kalon Venture Partners to avoid marketplace confusion

    South African Section 12J venture capital (VC) company Grotech has rebranded as Kalon Venture Partners. Kalon CEO Clive Butkow said the rebranding was to avoid being seen as associated with another Section 12J VC company, Grovest. "The confusion in the marketplace was that we were an offshoot of Grovest and that's where the initial idea for a rebrand came from," explained Butkow. This, he added, was partly driven by Malcom Segal being chairman of both companies. In addition Butkow is a non-executive director of Grovest. He said Segal will continue to chair Kalon. Another factor driving the rebrand was that when the company was...

  • SA, Ghanaian startup shortlisted for Swiss-based Kickstart Accelerator

    South African startup Libryo and Ghanaian startup Farmerline have been selected for Swiss-based Kickstart Accelerator’s second cohort of 30 startups which hail from around the world. The announcement was made by Kickstart Accelerator on Wednesday. Libryo, a legal platform which enables organisations to understand their legal obligations, and Farmerline, an information service for small-scale farmers in Africa, will take part in the 11-week programme in Zurich from 4 September to 17 November. The second cohort has been divided into four verticals, namely: fintech, smart cities and robotics and intelligent systems. Adel Raslan, who handles publics relations on behalf of Kickstart, told Ventureburn that 10% of the applications...

  • HeePD to launch coding academy for people living with disabilities

    People with disabilities in Cape Town will be able to access free training in coding, with the expected launch next month of a local coding academy. The Hub Employment Ecosystems for People with Disabilities (HeePD), a commercial enterprise started in February, is working with partners to launch CoD - Ability Academy for People with Disabilities at the Open Design Festival between 13 and 25 August. The academy for people with disabilities will offer training in HTML, Java and C+. HeePD founder Riad Masoet, who has multiple sclerosis, told Ventureburn that HeePD will partner with various coding partners to establish the academy. Masoet did not want to say yet...

  • Innovator taps over R220 000 in support from CSIR grassroots programme

    Nkosana Madi has been able to tap over R220 000 in training and support from a Council for Scientific and Industrial Research (CSIR) programme that aims to help innovators from townships and rural areas. Madi (pictured above), who is from KwaThema near Springs in Gauteng, has developed a motorised bike, the Fla'va. He says the CSIR, through its Grassroots Innovators Programme, is helping to fund an auto-CAD and design-modelling course he is undertaking. Since July last year the CSIR has also provided him with an engineer to advise him on the kinds of tools he should use to manufacture the bike and has...

  • South Korea seeks to diversify its startup scene with its latest accelerator GAPS

    The South Korean government has opened applications for 30 foreign startups to join its new Global Accelerator Program for Startups (GAPS). The application deadline is 31 July. The 1o-month programme will run from this September to June next year and shortlisted startups will each get a grant of $26 000. Applicants will be assessed on how marketable and scalable their business models are as well as on their team’s makeup. Winning startups will also be provided with office space, equipment and material. The programme will also assist participants in getting startup visas and additional mentorship on how to run a business in Korea. GAPS is...