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  • IDC approves R17m deal to fund SA’s first 3D metal printer

    The Industrial Development Corporation (IDC) has concluded an agreement with an SA startup that plans to launch the country's first production-based 3D metal printer by June. The investment of R17-million in Metal Heart, approved last month, is the 11th deal concluded by the IDC's new industries unit, since the unit's launch in 2015. Six of the deals have been in new companies. "They moved quickly," says Gert Lombard, who says he and business partner Kim Gray initially met with the unit in November last year. The deal was approved two weeks ago. The investment is in the form of a term loan and a...

  • Company Office

    treadFEST 2017 – five stages with Gangs of Ballet, DJ Ali, Matthew Mole

    treadFEST 2017 presents five stages with a mix of music genres: Gangs of Ballet, DJ Ali and Mathew Mole are just three among a host of bands and DJs in the pipeline. When the award-winning, Durban based, alternative rock band Gangs of Ballet lost their bassist, it didn't stop them in their tracks. They just became a gang of three (comprising brothers, Brad and Josh Klynsmith, and Jonny Rich) and so refined their distinctive sound. After the enormous success of their first album, yes/no/grey the challenge was to move forward to even greater things. Becoming a trio was just part of that journey....

  • Entersekt wins Best Mobile Security Technology Award

    Security solution Entersekt has clinched the award for Best Mobile Security Technolgy for the second time at the 2017 Banker Africa Southern Africa Banking Awards. Entersekt uses an innovative push-based authentication solution along with digital certificate technology to protect customers from online fraud. The awards programme is open to all banks and financial institutions within SA and celebrates outstanding performance within the financial services industry. "We are particularly pleased to have been recognised for the work we do in the fintech space. As an innovator in push-based authentication and app security, it is important for our peers to acknowledge the evolution and relevance of our products and services," said Entersekt's...

  • Identifying and managing regulatory risks in fintech innovation [Sponsored]

    Facebook-owned WhatsApp's recent move into digital payments in India reinforces the view of many, that the biggest competition to existing legacy banks could well come from the so-called GAFA (Google, Amazon, Facebook and Apple). It is undeniable that the pace of disruption to legacy banking and financial services models will continue to accelerate. In addition, the pressure from challenger banks and fintech disrupters will drive the speed and the timeline of exiting financial services business model evolution. This is unlikely to be a comfortable time for the incumbent players. Adding to the pressure and complexity for the executive team of...

  • Exclusive: ‘Government won’t match private sector in R1.5bn SME fund’

    The SA government has no immediate plans to match the R1.5-billion that 48 large companies have committed to the SA SME Fund, National Treasury Director-General Lungisa Fuzile told Ventureburn today. Deputy President Cyril Ramaphosa pledged during the launch of the fund in May last year that the government would match any contribution made by the private sector. However Fuzile, who sits on the fund's board, said the government will instead look to improve coordination between the state and private sector, while stepping up its existing funding and business support to small businesses. "It is not clear from a fiscal point of view...

  • Top startup events in South Africa, Africa you should know about this week [10/04/2017]

    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...

  • RiseUp takes 6 startups to Silicon Valley

    Startup network, RiseUp took six startups to Silicon Valley from 4 April to 13 April. The programme exposes startups from the Middle East and Africa to the tech hub, allowing them to integrate with other startups, resulting in acceleration and growth. The programme is organised in partnership with Voyaj and TechWadi as well as the World Bank. "We cater an experience where startups have an opportunity to get exposed to new markets, connect with global industry leaders, network with investors, the global media, and most importantly gain know-how that will help them build better businesses," said RiseUp's founder, Con O’Donnell in a press release. RiseUp aims...

  • Finfind initiative to link SA lenders with entrepreneurs seeking finance

    SA banks and lenders may soon be able to use a finance-matching platform to source entrepreneurs looking for finance, if a new initiative piloted by SA fintech startup finfind proves successful. Launched in October 2015, finfind is piloting a number of new initiatives which will help entrepreneurs to get better access to finance in South Africa. Speaking to Ventureburn today, finfind CEO Darlene Menzies says these include an initiative which will allow banks and other lenders to source fundable entrepreneurs from the platform. Currently entrepreneurs that access the site can complete a questionnaire and be told whether they qualify for funding or...

  • Philippines’ Acudeen Technologies wins Seedstars World

    The Filipino startup, Acudeen Technologies was crowned the Seedstars World Global Winner for 2017 on 6 April 2017, taking home the grand prize of USD$500 000 in investment. Acudeen beat startups from 65 countries at the pitching competition, held at the SwissTech Convention Centre in Lausanne. The company was crowned the winner for its solution that turns SMEs' invoices into cash by discounting their receivables. This solution provides SMEs with working capital that they wouldn't normally get from banks. Founder of Acudeen technologies, Mario Jordan "Magellan" Fetalino III elaborated on his win in a press release to Ventureburn. "Seedstars was an incredible experience. Much more...

  • SA startup get\Worth to disrupt online car market

    A Cape Town startup is looking to change the way customers buy and sell cars on the internet, by using machine learning and what it says is a unique payment model. The startup launched its platform last month after trading for six months to gain proof of concept. Get\Worth co-founder Mark Ridgway – a former CEO of TransUnion Receivables – says the company was able to conclude about R20-million in deals through the platform in March. The startup's model is different from other online car dealers such as CarZAR.co.za and WeBuyCars.co.za. 'We think this is almost first world. No one is providing a...

  • Nestlé SA to bring more business to entrepreneurs

    Nutrition company Nestlé SA and the Department of Small Business Development have signed a memorandum of understanding (MOU) that'll see the creation of more than 600 jobs. The MOU serves as Nestlé SA's commitment to sourcing and developing micro-distributors who are primarily located in rural SA and townships. The partnership between Nestlé SA and the Department of Small Business Development will see a recruitment of 200 microdistributors from 2017 to 2020. The distributors would then be required to recruit at least three permanent staff, this, in turn, will create over 600 jobs. The signing of the MOU took place at the annual Proudly South African Summit...