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  • Cairo receives £1-million startup investment from UK

    The British embassy has announced a £1-million investment fund to benefit startups of Cairo in Egypt. Entrepreneurs eligible for the fund need to demonstrate that their business is both commercially viable while still serving the needs of the community. They need to be able to create jobs, have suitable opportunities for women as well as support underprivileged regions. Participating entrepreneurs would also have to go the extra mile, showing how their business improves access to public services as well as the delivery of said services. The final selection of entrepreneurs will in the form of a competition with the winners being chosen by an expert panel...

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    Festival goers can expect to be swept away by treadFEST surroundings

    One of treadFEST’s main features, is the area in which its set. In the heart of the Drakensberg, surrounded by mountains and trees. The moment you arrive you will be swept away by the beautiful scenery and the fresh air. The festival takes place from 3 to 6 December at the Amphitheatre Backpackers Lodge, in the Drakensberg. treadFEST want you to absorb the beauty around the camp, and have specially created activities that allow you to connect with nature in the best possible way. With over 350 hectares to walk, you will fully explore the natural wonders around you. If you long for...

  • Meet the entrepreneur who just snared $350m to slaughter Uber

    "The idea was not just to build a big business, but start one that would have a big impact," explains Mudassir Sheikha, co-founder of ride-hailing startup Careem. "We wanted to improve the lives of thousands of people and change society for the better." And it seems like Mudassir’s on track to succeed on both fronts. Careem’s now the newest ride-hailing unicorn – it announced today that it’s pocketed a substantial US$350 million from a slew of investors including Rakuten and Saudi Telecom. The funding round is the single largest investment in any startup from Dubai. And there still might be more...

  • Start Here: a book for entrepreneurs by Roger Norton [Part 1]

    It's not often that entrepreneurs write books about their experiences; a strange thing considering the wealth of knowledge they accumulate over the years. South African entrepreneur Roger Norton has decided to do just that with his book Start Here: A Quick Guide to Building Startups. Over the years, Norton has founded two startups, worked with 10 others, and has been involved with the Silicon Cape Initiative. He currently heads up startup studio Playlogix. In Start Here, Norton writes about all of the steps that entrepreneurs need to follow in order to take their idea to a business. An interview with Roger Norton Ventureburn had a chance...

  • Bottles pops cork after R500 000 Shark Tank investment

    On-demand alcohol delivery app, Bottles has successfully pitched their business on Shark Tank SA and walked away with an investment of R500 000. Their investment comes at a 10% stake in their business after the co-founder of The Creative Council, Gil Oved found Bottles model to be a profitable investment. The alcohol delivery app allows users to choose from their favourite beers, spirits and wines to be delivered to their door within 60-minutes. "Attending Shark Tank SA has been an incredible experience for us, we prepared for days on end, watching every past episode of the show available online to make sure we...

  • Paystack closes $1.3-million seed investment

    Nigerian fintech startup Paystack, backed by Y-Combinator, has closed on US$1.3-million in Seed Funding. "Having painstakingly identified the many barriers that merchants on the continent have when it comes to online payments, we have built and refined a product for Africa that we hope will act as a catalyst for the continent's online economy, be it on-demand services, ecommerce, travel & hospitality, financial services or entertainment," said CEO of Paystack, Shola Akinlade in a press release to Ventureburn. Paystack aims to utilise their new-found investment to scale themselves successfully The seed investment comes from various investors, some of which include: Tencent Comcast Ventures Singularity investments ...

  • What you need to know about commercial vehicle insurance [Sponsored]

    With most businesses thriving on mobility, the numerous dangers that your commercial vehicle is exposed to on South Africa's roads are quite significant. As a business owner of commercial vehicles, it is important for you to understand your business vehicle insurance needs. Commercial vehicle insurance differs in comparison for most insurance companies and therefore standardised packages (along with optional extras) are offered by insurers. It is always best to choose a tailored insurance cover for your business, for example, commercial vehicles that operate within shorter routes do not require the same cover as those that travel long distance. We've put together...

  • Q&A: Ventureburn chats to ex-Groupon SA CEO about new startup

    In a move that may appear baffling at first, the ex-CEO of Groupon SA, Wayne Gosling, has created a similar business after the former closed its doors in SA. Named Hyperli, the startup launched earlier this month with backing from Gosling's own fund, Team Africa Ventures. At present, Hyperli offers similar offers to the likes of Daddy's Deals, such as food & drink, health & fitness, as well as entertainment. Ventureburn had a chance to catch up with Gosling to ask why the company was launched, how it will differentiate itself from Groupon, and what the marketing strategy is. Ventureburn: After the closure of Groupon...

  • 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...

  • Algebra: VC tech fund in Egypt hits $40m mark

    A new tech VC fund by Algebra Ventures has completed a US$40-million first closing. Algebra claims that it's the largest tech VC fund in Egypt. According to a press release sent to Ventureburn, the fund will invest in up 25 tech startups or "tech-enabled" startups. Focus areas include "technology IP, fintech, industry platforms, e-commerce and consumer internet", Algebra explained. As for funding amounts, Algebra confirmed that investments would mostly be in the range of US$500 000 to US$4-million. The fund is expected to achieve a final closing of US$50-million. Algebra Ventures is aiming for a rather lofty final goal, but it's only got US$10-million 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...

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