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All posts tagged "Startups"

  • Business, SA set to benefit from innovation and startup ecosystems

    Global accelerator programmes are vitally important in bringing new technologies into the insurance industry’s value chain, writes Stanley Gabriel, head of innovation at Old Mutual Personal Finance. By partnering with such initiatives, companies like Old Mutual continue to explore how to streamline, reorganise or redesign business models, legacy processes and systems to enhance customers’ experience. Entrepreneurship and small businesses are driving economic development in South Africa, with startups and small businesses contributing an estimated 50% to 60% to the national Gross Domestic Product (GDP). It comes as no surprise then, that the 2017 Old Mutual Savings and Investment Monitor found that 39% of...

  • Sureswipe’s new POS Lite is a game-changer for small retailers and startups

    For a small retailer or startup to be successful and move to the next level, it’s important that systems are in place to track inventory, recon and balance merchant batch closure, manage multiple store and staff sales and have immediate access to real-time data that helps make better management decisions. South Africa’s long-standing fintech player, Sureswipe has launched a new Point of Sale (POS) app and an online business management portal that will change the way small retailers, startups and pop-up shops process card payments from customers and manage their businesses. Sureswipe POS LITE comprises an app and online portal which...

  • Advice for startups that ship large quantities of products

    If you are starting a new business that will be shipping lots of products either domestically or internationally then you need to make sure you have the capabilities and resources to be able to send your products to your customers.  Know the risks Over 50% of startups fail within the first year so you need to make sure you know the market you are going into, and that there is a demand for another competitor in this market. There are big risks when going it alone and starting a new business, but with that comes great reward if you can get it...

  • Slowing economy is biting into startups’ profit reveals Ventureburn survey

    South Africa may have seen an explosion in venture capital (VC) deals of late -- with the value of VC deals having increased by 134% in 2016 over 2015 -- but just 10% of tech startups are turning a profit, reveals the Ventureburn Tech Startup Survey powered by Telkom Futuremakers. The figure of 10% revealed by the survey -- which sampled 260 startup founders from across the country in an online survey in October -- is down from 17% in a survey of 197 founders conducted by Ventureburn in 2015. Gross domestic product (GDP) growth is expected to remain under two percent...

  • View the full 2017 Ventureburn Tech Startup Survey presentation

    The 2017 edition of the Ventureburn Tech Startup Survey powered by Telkom Futuremakers, has uncovered a host of detailed insights into the South African startup landscape. From sources of funding and racial breakdowns to the most successful sectors, the survey covered a variety of topics. We have plenty of articles on Ventureburn, but find our comprehensive report embedded below. More information on the Ventureburn Startup Survey: A picture of two worlds - black tech startups struggling, finds new survey White males in Western Cape the most successful startup founders - survey Slowing economy is biting into startups' profit reveals Ventureburn survey Startups hold unrealistic view...

  • Infographic: the 2017 Ventureburn Tech Startup Survey

    The 2017 Ventureburn Tech Startup Survey, powered by Telkom Futuremakers, has delivered plenty of insights into the South African startup landscape. The survey, following on from 2015's seminal survey, saw over 250 South African startup founders respond. But what should you know? You can view all the articles here, but we've also prepared an infographic for your convenience, outlining a selection of findings. Check it out below. More information on the Ventureburn Startup Survey: A picture of two worlds - black tech startups struggling, finds new survey White males in Western Cape the most successful startup founders - survey Slowing economy is biting into startups' profit...

  • Tech startups crucial to Pick n Pay’s technology strategy says executive

    South Africa retail giant Pick n Pay has in the last year worked closely with "at least" 10 startups on various projects that have been delivered into the business, says the retailer's deputy CEO Richard van Rensburg. "Tech startups are crucial to Pick n Pay’s technology strategy," Van Rensburg told Ventureburn last week, in a set of emailed responses. He says over half of the retailer's spend on innovation is with startups. "We have recently completed re-platforming all our systems across the group , from in-store point-of-sale (systems) through logistics and distribution, buying, customer loyalty and finance. Our core business systems are up to date and...

  • Pitching to Woolworths? Not just about idea, but team behind it – online head

    Do you have an idea for an app or platform that you want to pitch to Woolworths? Getting the retailer's attention is not just about how strong your idea or solution is, but comes down to the potential of the person or the team that is involved, says the retailer's head of online Liz Hillock. In a Q&A below, Hillock responded to questions from Ventureburn on what to prepare yourself for as a tech entrepreneur looking to sell an innovative solution to Woolworths. It’s difficult for any corporate to invest in an idea that is untested. Consider getting a proof of concept...

  • Startups, have an app or web platform you want to sell to Old Mutual?

    Have an insuretech product? Startups should spend more time getting to know the challenges insurance companies face before approaching a corporate. So says Stanley Gabriel, head of innovation at Old Mutual Personal Finance. In addition startups should know their story and understand Old Mutual's constraints and limitations, while remaining flexible on how these can be addressed or overcome. "Don't engage on a proposed partnership unless your product or service is ready for testing -- this only leads to disappointment for all parties involved," says Gabriel. Startup shouldn't engage on a proposed partnership unless their product or service is ready for testing says Old Mutual innovation head Ventureburn spoke to...

  • Still stuck in school — NITDA’s awkward romance with Nigerian startups [opinion]

    When many Nigerian founders of startups are asked to list their major challenges, they often mention the lack of support from the Nigerian government. While this is a widely accepted position in the country’s startup ecosystem, government officials and politicians at all levels believe the industry is getting more than enough support from the government -- which set up the National Information Technology Development Agency (NITDA). The agency has been tasked with developing the country’s ICT industry. How it perhaps started So how did it come about? The theory is that some years ago some international tech experts visited Nigeria's then president Olusegun Obasanjo at the...

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