• 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!
  • SBC head smiling as Startupbootcamp Cape Town applications top 1000

    Startupbootcamp (SBC) Africa managing director Philip Kiracofe says he is "quite happy" with the large number of Africans countries from which the organisation received applications for this year's Startupbootcamp Cape Town programme. On Friday Startupbootcamp (SBC) Africa stated on its Twitter account that it had received 1018 applications for this year's Startupbootcamp Cape Town. SBC Africa will select 10 startups for the programme -- which will be announced on 13 July. This year's programme will be the second cohort SBC Africa has run -- following the launch last year of the programme. "We are most excited by the number of different countries we are getting applications...

  • Company Office

    Banking Africa's Unbanked - Time For A Reality Check

    Plenty of progress has been made on increasing the size of Africa’s banked population. The trouble is, from the amount of noise that is made about the topic, you would be forgiven for thinking we had fixed the problem when we really haven’t. According to the World Bank, today, 62 per cent of the world’s population has a bank account. In 2011 that figure was 51 per cent. In three years, 700 million people became “banked” in some way, and the number of “unbanked” individuals dropped 20 per cent to two billion adults. Much of this progress was attributed to...

  • Here’s how African startups can apply for a share of €65m French fund

    African startups will be able to apply for seed funding from a new €65-million French development agency (AFD) fund via an innovation competition, when applications for the competition open later this year. The news was announced by French President Emmanuel Macron last Thursday (24 May) while he was speaking at French tech summit VivaTech, held in Paris between 24 and 26 May. "And the French Development Agency is going to announce in the coming weeks a new specific programme of €65 million in order to invest small amounts, €30 000 to €50 000 per startup," said Macron. The AFD's Digital Africa initiative will invest between €30 000...

  • HAVAÍC holds onto five investments despite two offers, says Ian Lessem [Q&A]

    While Cape Town venture capital (VC) company HAVAÍC has yet to exit any of its five portfolio investments, it has had two opportunities to do so since launching about two and a half years ago, says the VC's CEO Ian Lessem. Lessem told Ventureburn earlier this month that the VC company held off exiting because he believed there was still "too much upside potential in these businesses to warrant an exit". The VC company was founded by in 2015 by Lessem together with Grant Rock, Rob Health and Jonty Levin. HAVAÍC held off exiting because there was still "too much upside potential in these businesses...

  • Top startup events in South Africa, Africa you should know about this week [28/05/2018]

    Looking to get into the South African startup scene or brush up on some of your skills? Well, you’ve come to the right place. This article is part of a weekly series that highlights all the top startup competitions, networking sessions, workshops and conferences around South Africa, and the greater region. If you have any event recommendations for us to add to the list, or next week’s, please let us know in the comments below or send us an email. Not all of the events are free and some will require booking in advance. Please click on the event names to find out...

  • 80% of applications for $400 000 Fall Armyworm Tech Prize are from Africans

    A $400 000 competition which aims to find digital solutions to identify, track and protect crops from the armyworm -- which has devastated agricultural produce across the continent -- has received 228 applications from entrepreneurs and innovators -- with 80% of these from Africa. The announcement, made last Friday (25 May) in a press release by Nesta -- a UK-based foundation which runs innovation challenges -- on behalf of Feed the Future last Friday. Nesta said 80% of applicants to the its global Fall Armyworm Tech Prize were from African entrants. The five countries with the highest number of entries were: Uganda (52), Nigeria (25), US (23),...

  • Jozi Angels wants R8m return from R400k invested per startup [Q&A]

    So, your startup is looking for money then? If you head to angel investment network Jozi Angels make sure you can within seven years, generate return of 20 to 25 times what the network invests in your startup. Since it was founded by in 2015 by Abu Cassim, Jozi Angels has made 15 investments in the past three years totaling over R6-million. That's an average of R400 000 per investment. It means that after seven years investors will want on average -- at least R8-million returned to them from each investment. That is no small money. Read more: Jozi Angels made 15 investments worth R6m in...

  • Google launches $6m Impact Challenge for SA, Nigeria, Kenya

    Google this week launched its $6-million Google Impact Challenge aimed at social enterprises and non-profit organisations based in South Africa, Nigeria and Kenya. The announcement was made by Google on Wednesday. Entrepreneurs that run social enterprises and those that head non-profits that use innovation and technology to achieve their goals can apply. In all 12 finalists from each country will be invited to pitch their ideas to Google's panel of judges at a final event. The judges will select three challenge winners from these finalists, and also announce the people's choice winner. Each of the 12 winners of Google Impact Challenge will receive a $250 000 grant Each of...

  • Three reasons why Uber acquisition of SA grown orderTalk is so big a deal [Updated]

    Uber’s food delivery business Uber Eats has acquired tech company orderTalk, which was once headquartered as a startup in Cape Town, South Africa. Here's why it's such a big deal. OrderTalk provides online ordering software to restaurants that integrates with a restaurant’s point-of-sale system. The announcement was made yesterday by SA venture capital (VC) fund Knife Capital (orderTalk first revealed the acquisition on its blog last week). The terms of the deal — including how much Uber Eats paid Knife Capital and orderTalk in the deal — were not disclosed. Read more: Uber Eats acquires SA founded tech firm orderTalk for undisclosed amount Why then is it such a...

  • Meet the nine 2018 FNB Business Innovation Awards finalists

    The FNB Business Innovation Awards, in association with Endeavor South Africa has announced the nine finalists selected for the 2018 FNB Business Innovator of the Year. The winner of the awards -- who will receive an all-expenses paid trip to attend the Endeavor international selection panel event in Argentina -- will be revealed at a dinner set to be held on 7 June in Sandton. The awards are aimed at businesses with minimum annual turnover of R10-million. In addition, the companies must display potential to scale and be market leaders in their respective industries. The 2018 FNB Business Innovator of the Year...

  • Nigerian fintech Lidya raises $6.9m in Series-A round led by Omidyar Network [Updated]

    Nigerian fintech startup Lidya has announced that it has raised $6.9-million in a Series A round led by Silicon Valley-based philanthropic investment firm Omidyar Network. The startup's platform assists small African businesses to manage their funds as well as access credit. The startup was founded in 2016 by Tunde Kehinde, and Ercin Eksin. In an announcement in a statement yesterday (23 May) Lidya said the funding will be used to scale operations in Nigeria, as well as to launch in new markets in Africa, in addition to hiring more staff and expanding the company's loan book. A total of five investors: Alitheia Capital, Accion Venture Lab,...