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Incubator slash dev lab, PlayLogix, recently announced its Startup Build Pack. This programme is said to provide entrepreneurs with real tangible support focused on product creation — not just PR and business advice.
There are so many incubators popping up across Africa but early stage tech startups still has a very high failure rate. In South Africa this has become increasingly popular. PlayLogix aims to set itself apart from other dev labs and incubators by focusing on product development with a more hands-on approach.
While PlayLogix builds tech products, it also supplies business support and strategy to help focus the idea and make sure startups are building the right thing.
The incubator notes the high failure rate is mainly due to a disconnect between some of the critical ingredients one needs to get a startup off the ground. With a great deal of experience in building complex scalable startups, PlayLogix aims to help avoid many of the early stage pitfalls while also “de-risking the technical side” of the business for potential investors.
The new Startup Build Pack is said to provide this crucial recipe needed for a startup’s success. Ranging over six months the, programme will help building the product to getting the startup to the traction stage as quickly as possible so that it can start making revenues and completing a due diligence pack.
This programme’s resources and services claims to be over R450,000 worth and aims to reduce the technical risks in getting the product out there. The company’s press release notes that, in return, the program costs R200,000 in cash and PlayLogix takes a 15% equity stake in the startup.
Once the startup’s product has been created, PlayLogix will focus on helping it get revenue and guiding startups to become independent and sustainable as quickly as possible. For more information about this programme and PlayLogix see the company website here.