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  • Cape Town-based security startup Jonga wins Santam Safety Ideas campaign

    Cape Town startup Jonga, which has designed an affordable app for home security, has come out tops in the Santam Safety Ideas campaign. Jonga will get a R150 000 to cover the costs of incubation. The announcement was made on Thursday last week. The startup was founded by Ntandoyenkosi Shezi and Ntsako Mgiba (pictured) in 2015 with the aim of making home security more accessible to all. Mgiba told Ventureburn that he came up with the idea for the startup after getting burgled. The Jonga security system retails for R800 a unit, costs R70-a-month Jonga’s low-cost security system consists of a motion detector that is installed at...

  • Company Office

    SA sees strong growth in digital ad-spend

    While some traditional media struggles, digital ad-spend in South Africa has witnessed powerful growth. The latest full year (2015) digital advertising spend report released by PwC on behalf of the IAB SA illustrates that the local industry has moved beyond the R3.4-billion spend (invoiced) mark in 2015. This translates to 36% overall year-on-year growth. Certain sectors have witnessed exponential development. In terms of the PwC classification, mobile saw the biggest growth at 182%, followed by online at 68% and search at 22% (Search for 2014 was restated by PwC referencing the PwC Entertainment and media outlook: 2015 – 2019). South...

  • Top startup events in South Africa, Africa you should know about this week [14/08/2017]

    Looking to get into the South African startup scene or catch up on some of your skills? Well, you've come to the right place. There are loads of competitions, networking sessions and workshops happening around South Africa and the rest of the continent (namely Kenya, Nigeria and Ghana) that we've rounded up to make your life a bit easier. 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...

  • International investment in get\Worth lifts funding in Cape startup to R18.5m

    Barely six months after it launched a web platform looking to disrupt online car sales, Cape Town auto industry startup get\Worth has announced an international investment that has increased its total committed funding to R18.5-million. Get\Worth co-founder Jamie Surkont said in a press release issued today that the investor was attracted by the startup's "unique product" that solves many of the challenges when selling a car. However Surkont did not wish to disclose the details of the investment in the press release. When contacted by Ventureburn he responded by email saying that R18.5-million, is the amount committed so far in total to the business since...

  • Over a year on, key reforms for SA’s R&D tax incentive still not implemented

    More than a year on the Department of Science and Technology has yet to decide on whether to offer a refundable tax credit for the research and development (R&D) tax incentive. The introduction of a refundable tax credit was one of several recommendations made by a task team in a report in June last year to make a R&D tax incentive, which has been in existence since 2006, more attractive to small businesses and startups. Unlike a non-refundable tax credit, a refundable tax credit is able to reduce a company's tax balance beyond zero, making it significantly favourable for small firms. The...

  • Looking to sell that app or platform to Barclays Africa? Here’s what to consider

    Startups looking to sell their good ideas to a corporate need to ensure that they can argue a clear business case with a proven solution and a demonstrable market, says Shirley Gilbey, the head of Rise and Co-creation at Barclays Africa Group. "Every relationship should be transactional -- they (startups) have a solution that we want to offer our customers. There must be value for both sides in the collaboration," points out Gilbey. Think about the market and how you would scale across regions says Barclays Africa's Shirley Gilbey Ventureburn spoke to Gilbey about what startups should consider if they want to sell their innovative idea,...

  • More needs to be done on educating startups on raising finance – Finfind CEO

    Not enough is being done to educate startups on the art of securing capital and funding. So says Darlene Menzies, founder and CEO of finance matching platform Finfind. Speaking to Ventureburn, Menzies said although public and private sector initiatives and incubators provide entrepreneurs with some assistance, these initiatives don't provide sufficient training startups on how to secure capital and funding. “Few of these, if any specifically focus on teaching tech startups the art of securing venture capital. Even when this is touched on, for instance at startup pitching competitions when consulting sessions are offered prior to pitching to provide guidance, these are rarely conducted by...

  • VC companies don’t necessarily have to set up a fund to invest – here’s why

    Engaging with investors is often like trying to fit a square peg in a round hole. This is the feedback we got from entrepreneurs in the early days of setting up venture capital company HAVAÍC. Often entrepreneurs were told by an investor that they loved their business, but that the investment didn’t fit their investment or fund criteria. The entrepreneurs were seeking to access to funds from investors who demonstrate flexibility in terms of investment criteria and approach to evaluating businesses. Based on these learnings we formed a view that a venture capital (VC) firm which really wanted to make a difference in...

  • SA’s SnapnSave in R14m investment from Kalon Venture Partners, Smollan

    SA venture capital company Kalon Venture Partners (formerly Grotech) and retail solutions company the Smollan Group SA have together invested R14-million for a minority stake in SA shopping community SnapnSave. Kalon Venture Partners chief executive Clive Butkow said the deal, which was concluded late last week, will see Kalon and Smollan each invest R7-million in the Cape Town based startup, in return for a 20% stake each. SnapnSave's app facilitates discounts for shoppers on their favourite products, wherever they shop, just by snapping a photo of their till slip. SnapnSave CEO Mark Bradshaw said in just over 18 months, SnapnSave has given SA shoppers over...

  • Here are SA’s Inspiring Fifty women in technology for 2017

    Non-profit organisation Inspiring Fifty, an initiative of the Dutch Consulate General in Cape Town together with Inspiring Fifty Netherlands, has announced the names of its 50 inspiring women in technology in South Africa. It follows a call the Dutch Consulate General put out in April for nominations for those who can serve as role models to attract more female champions in the technology-related fields. At the close of applications at the end of June, the consulate general had received 252 nominations. Read more: Over 100 nominations received so far for inspiring SA women in tech initiative Project manager Chantal Louw said in a press release this week...

  • African tech startups have three weeks left to enter DEMO Africa 2017

    African tech startups have until 31 August to apply for this year’s edition of DEMO Africa. It follows the extension of the application window from 30 April to 31 August 2017 by the organisers Lions@frica. a partnership between non-profit organisations and tech companies. While the DEMO Africa 2017 event had initially been scheduled to take place between 6 and 7 September, it will take place between 23 and 24 November in Johannesburg. The programme aims to link tech startups with investors and technology buyers and by doing so connecting African tech startups to the global ecosystem. Startups with innovative working scalable products in energy, health, education, agriculture,...