Global startup competition SeedStars World is expanding its search for South Africa’s best startup in 2016. The entrepreneurial initiative, which specifically targets emerging markets ecosystems, today announced that it would be holding competitions in Cape Town, Soweto, Johannesburg, and Durban.
After scouting the global winner from 2016, Giraffe, from South Africa, expectations will be high for the country this year.
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“With Giraffe as the global winner of our competition, we have proven that South Africa has world class entrepreneurial talent. This year is about casting our net even wider and giving the opportunity to the whole country to participate and become part of a global journey. ” says Marcello Schermer, Regional Manager for Africa at Seedstars World. He adds “We have found a great partner in Standard Bank who is investing a lot into making this ecosystem competitive and inclusive on a local and global level”
In partnership with Standard Bank, Seedstars World will host pre-selection events in Cape Town, Durban and Soweto and invite the top three from each city to the grand finale hosted at the Standard Bank Incubator in Johannesburg. An additional startup from one of the cities will also be invited, forming part of a top 10 that will compete for a place at the SeedStars World Summit in Geneva, Switzerland.
The South African leg is part of Seedstars World’s global efforts, which will see it travel to 65 countries this year to identify the best seed-stage entrepreneurs and provide them with an opportunity to win up to US$1-million and network with investors and mentors from around the world.
“Seedstars World has been a great partner to mobilise support and exposure for the Startup community in South Africa and the continent. Given the success of our partnership in South Africa in 2015, we are proud to once again be the country sponsor of Seedstars World. We look forward to another great year as we expand the Seedstars competition to include three provinces, Cape Town, Johannesburg and Durban,” says Jayshree Naidoo, Head of the Standard Bank incubator.
Applications are now open for the pre-selection events to be held in Cape Town on 27 May, Durban on 8 June, and Soweto on 14 June. Companies applying need to be less than two years old, have raised less than US$500 000 in funding and have built a minimum viable product, ideally with existing traction.
