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  • Here’s how India and China’s best parking apps are tackling parking [Native]

    With a combined population of around 2.7 billion people, China and India are the two most populated countries in the world. That translates to a lot of cars on the road and plenty of parking challenges. How then are these countries dealing with this through tech? Ventureburn has previously looked at apps that South Africans are using to find and pay for parking, but how do they stack up against Indian and Chinese solutions? Read more: Struggling with parking? These four apps could get you out of that jam China EasyParking: Launched in 2015 by Beijing based TingJianDan Information Technology Company, EasyParking links drivers to commercial...

  • Company Office

    IAB SA makes great strides in 2015

    2015 has seen IAB SA take great strides and have a positive impact on the digital industry in South Africa. The organisation launched several new initiatives and projects, while working towards finding viable solutions for the challenges facing the digital industry. At the IAB SA AGM, held this week, chairperson Jarred Cinman emphasised that the organisation has not only grown in terms of members, but also in realising its vision of making a constructive, positive contribution to the South African digital industry. Its greatest achievements for 2015 include:  Successful engagement with the Film & Publications Board, negotiating an alternative to the direct...

  • Rocket Internet to Spur incident, five of Ventureburn’s interesting reads of 2017

    It was a busy year again for Ventureburn -- with Bitcoin going crazy, Google opening an Africa accelerator, entrepreneurs coming forth with bizarre solutions to Cape Town's drought and Spur founder Allen Ambor telling how he didn't take nonsense from no one. Here then are five of Ventureburn's more interesting reads of 2017: Former Rocket Internet man tells how he cloned firms, from Cape Town to Bangkok (30 August): Cape Town born Tauriq Brown always wanted to be an international businessman. He may claim to be an entrepreneur. But the 28-year-old former Rocket Internet employee is just one of the hundreds employed by massive venture-builder companies to clone and...

  • Here are 12 SA tech entrepreneurs who made headlines in Ventureburn in 2017

    From selling their startup for over a billion rand, to turning air into water -- here are 12 South African entrepreneurs who made headlines in Ventureburn in 2017. Sam and Rob Paddock (Getsmarter founders): It was a chance encounter with US listed company 2u's CEO Chip Paucek in October last year that set Cape Town based SA edtech startup GetSmarter on the road to being acquired by the US firm in a $103-million deal which was finally concluded in October this year. The deal is one of the biggest acquisitions of an SA tech startups (see the list of the top 10 reported exits), and included an earn-out provision of...

  • Here are the SA tech startup acquisitions that were concluded in 2017

    This year saw one of the biggest acquisition deals for a South African tech startup -- when US listed company 2U bought Getsmarter for $123-million. At least three other SA tech startups were acquired in 2017. Ventureburn takes a look at the four that the publication covered in 2017. The four include only acquisitions of South African tech startups that Ventureburn reported on in 2017 and that were concluded for a stake of 51% or more . For example last month mortgage finance provider SA Home Loans announced that it had acquired a 49% stake in online real estate agency PropertyFox). The four include only...

  • A look at 2017: the year that was for South Africa’s tech startup ecosystem

    This year saw one of the biggest acquisitions of a South African startup - with the over $100-million GetSmarter deal. A chance meeting with 2U CEO Chip Paucek in October last year set the Cape Town based edtech startup on the road to being acquired by the US firm in a $103-million deal signed in May, but only concluded in October. But 2017 was also a year in which two new major acceleration programmes launched on the continent. Global accelerator Startupbootcamp launched a three-month programme in Cape Town in September -- the organisation's first such initiative in Africa. The inaugural programme helped bridge the gap between corporates and startups, with the initiative's first...

  • How tragedy inspired Medsaf co-founder to tackle Nigeria’s counterfeit drug crisis

    Counterfeit drugs are a grave problem in Nigeria. Vivian Nwakah, a co-founder of healthtech startup Medsaf, knows this too well. Four years ago a friend of hers died after taking fake malaria medication. The counterfeit drug crisis in the West African country came to a head this week with police carrying out raids on several street markets. On Monday, Nigeria's National Agency for Food and Drugs Administration and Control called on Nigerians to assist the agency in its fight against counterfeit drugs by coming forward and reporting any forms of illegal drug production. "I felt that that could have been anybody, it could have been me," said Nwakah (pictured above), who lost...

  • Meet the five Chivas Venture 2018 South African finalists

    Chivas Regal has announced the five SA finalists that have been selected to pitch next month at the local finals of its $1-million global social entrepreneurship competition the Chivas Venture. “Each of these finalists are proof that sustainability, enterprise and profit can be a strong force for good,” Chivas Regal marketing manager for South Africa Shelley Reeves said in a press release. The finalists were selected from over 600 applications -- with South Africa drawing the highest number of entries among the 30 participating countries -- and will next month get to pitch in front of a panel of judges for an opportunity to represent the country at the grand...

  • Clifftop Ventures grants new equity draw down facility of R4m to iono.fm

    Clifftop Ventures, the venture investment arm of financial firm Clifftop Colony, has increased its Equity Capital Drawdown Facility (ECDF) facility for online audio services company iono.fm to R4-million, after the tech firm was able to fully utilise an earlier R2.5-million facility. The announcement was made in a press release yesterday by Clifftop Colony and comes after the utilisation by iono.fm of a R.2.5-million ECDF facility, announced in November 2016 by the financial firm. Read more: Iono.fm receives R2.5m funding from Angel investment round The funding will help iono.fm, which was founded in 2009 by Ryan Dingley, to solidify the business next year and to expand...

  • Wala ICO nets just 4% of $30m target, but Newtown Partners praises result

    SA fintech startup Wala may have been able to raise just four percent of the $30-million it aimed to net in an initial coin offering (ICO) that ended last week -- but the head of the firm behind the raise, SA venture capital (VC) firm Newtown Partners, says it's an "excellent result". Data provided by independent ICO database ICO Drops shows that the VC firm raised almost $1.2-million for a crowdfunding token sale of Dala, a new financial services utility token built on the Ethereum blockchain. The ICO ran between 1 December to 11 December and a total of 1 billion tokens were issued of which 30%...

  • Startups need more than just capital to grow says Seedstars’ Michael Weber

    What's an entrepreneurs biggest need? Most people will probably say it's access to finance. But Seedstars co-founder and global venture builder Michael Weber says what entrepreneurs need most is support, talent and training. Ventureburn caught up with the Seedstars co-founder at the Seedstars regional summit in Maputo, Mozambique last Thursday. In a wide ranging chat on Seedstars' approach to investment, he shared his thoughts on what he's learnt from Seedstars participants. "Money is just one thing to execute the plan, but it’s not how things are going to be made right," he says. He points out that startups that come through the programme are...