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  • Accelerators help fuel over 1200 startups with $17m in 2017, reveals data

    Looking for some big money in exchange for support and recognition? You could try a business accelerator. In all 19 South African and international accelerators tracked by Ventureburn have so far this year given out a total of $17-million in funding to 1 241 startups. At about $37 000 per startup that isn't anything to sniff at. South African startups were eligible to apply to all 19 accelerators (see below table and graph for more details). Of the 19 accelerators, the Techstars Anywhere Accelerator virtual programme gave out the highest amount in funding -- at $120 000 per selected startup ($100 000 of this is in the form of a convertible loans...

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    Tshwane free WiFi project provides model for social impact bond

    Model could help with municipal infrastructure challenges A free WiFi project that has successfully taken root in Tshwane could set the pattern for social impact bonds in South Africa in which the private sector guarantees delivery of services, the public sector guarantees payment and commercial funding is accessed upfront from the financial markets. Social impact bonds are a form of innovative funding that gives service providers, including nonprofit organisations, access to upfront resources to tackle social problems by tapping private funding to cover the upfront costs of social programmes approved by government institutions. Kasief Isaacs, portfolio manager for infrastructure investments at Mergence...

  • Top startup events in South Africa, Africa you should know about this week [20/11/2017]

    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...

  • Fintech startup i-Pay secures R10m investment from Kalon Venture Partners

    Johannesburg-based fintech startup i-Pay has secured a R10-million investment from venture capital (VC) firm and registered 12J VC fund Kalon Venture Partners. i-Pay's electronic fund transfer (EFT) processing system automates EFT transactions and allows users to make instant, secure payments. Kalon Venture Partners CEO Clive Butkow said the deal was closed on Monday (13 November). "We are confident that it is 10 times better than anything on the market," Butkow told Ventureburn in a phone call. He said the firm's investment into the fintech startup had been influenced by "the incredible strong team" around i-Pay as well as the startup's growth over the past...

  • XL Africa — aiming high to create continent’s next growth startups

    During one week each November, thousands of events and competitions in over 160 countries supported by a network of more than 15 000 partner organisations celebrate Global Entrepreneurship Week, which runs until Sunday (19 November). The World Bank Group is joining this global celebration through an innovative post-acceleration programme, XL Africa -- a pan-African initiative for growth startups seeking Series A funding, between $250 000 and $1.5-million. Over 900 of the most promising startups across Africa applied to participate in this programme, of which 20 were selected by an independent panel of experts. Read more: Startups aim to secure $1.5m as World Bank’s XL Africa...

  • Healthtech accelerator Digital Health Cape Town opens call for applications

    Digital Health Cape Town (DHCT), a new healthtech accelerator set to launch at the end of January next year, has opened applications to its accelerator programme. In a press release sent to Ventureburn today, the accelerator stated that its accelerator programme aims to develop and scale local healthtech innovations into sustainable businesses. Applications to the programme are open to established healthtech startups that develop solutions around patient engagement, care coordination, population health, clinical decision support and behavioural health. Interested startups have until 5 December to apply, with the first cohort members to be selected by a panel that will include representatives of the Technology Innovation Agency...

  • SA medical bookings platform Recomed set to announce new funding round

    Cape Town based medical bookings platform Recomed is set to announce a new funding round led by local venture capital (VC) firm HAVAÍC, the startup's founder Sheraan Amod has confirmed. Amod, who celebrates his 32nd birthday today and will speak at tonight's Startup Grind Cape Town event, told Ventureburn in a phone call yesterday that an announcement on the deal would be made next week. After selling his previous startup Personera (who he co-founded with Jaco de Wet and Michael Champanis) in 2011 for an undisclosed sum, Amod started Recomed in 2013. In January last year the company received R6-million in equity funding for an disclosed stake, from local funder...

  • Silvertree founder takes aim at Silicon Valley model of building African startups

    African angel investors and accelerators are doing a disservice to entrepreneurs by mimicking the Silicon Valley model of glorifying the pitching of ideas - rather than helping entrepreneurs to better execute on these ideas, charges Silvertree Internet Holdings MD Paul Cook. "Far too often in our view, angels and even more so startup pitching events glorify pitching an idea rather than pitching some way that you are going to take a proven idea and execute in a market that is early stage," Cook said, at a panel discussion held today at the African Angel Investor Summit 2017. The summit is being held at...

  • Here are the 20 startups that will pitch at Seedstars Africa Summit Mozambique

    Seedstars World, a global community for tech entrepreneurs in emerging markets, will hold its third annual Seedstars Africa Summit in Mozambique next month between 12 and 14 December. Following a tour of local startup ecosystems across 20 African countries, Seedstars World selected 20 of the most promising startups to pitch at the regional summit in Maputo. The 20 startups were selected during Seedstars World's year-long tour of African startup ecosystems "During 2017 we got to witness growing ecosystems, better startups and more involvement from public and private partners," Seedstars World regional manager for Africa Claudia Makadristo said in a statement. "We are very...

  • Misk Foundation, Bill and Melinda Gates Foundation launch Misk Grand Challenges

    Two philanthropic organisations, The Misk Foundation and the Bill and Melinda Gates Foundation, yesterday announced that they have partnered to launch a new initiative, the Misk Grand Challenges. In a press release, the Misk Foundation stated that each of the philanthropic organisations will contribute $5-million towards the initiative. The Misk Grand Challenges will award 100 innovators and thinkers from around the world $100 000 each in seed funding grants to prove their concepts. Misk Grand Challenges winners will each get $100 000 in seed funding grants The initiative, which is aimed at youth, seeks to achieve three objectives. These are namely: empowering...

  • Edtech startup M-Shule selected to represent Kenya at Seedstars summit

    Kenyan edtech platfom M-Shule has been selected as best startup at Seedstars Nairobi and will represent Kenya at the Seedstars Summit set to take place in Switzerland in April next year. At the summit, the startup will get an opportunity to pitch for $1-million in equity funding. In a press release Seedstars World said 11 startups were invited to pitch at the event held last Friday (10 November) at Nailab in Nairobi. M-Shule pitched against 11 other startups to win Seedstars Nairobi A jury consisting of representatives from Jumia, GSMA, Novastar Ventures, Stanbic Bank Kenya and Seedstars World picked the winners. M-Shule was selected for its edtech platform...