MTN Solution Space opens applications for 2018 Venture Incubation Programme

Building Africa’s next innovative tech startup? The MTN Solution Space — an initiative of UCT’s Graduate School of Business (GSB) and MTN — is looking for you and has opened applications to its 2018 Venture Incubation Programme (VIP).

Applications to the programme, which is set to kick off on 3 April, will close on 28 February.

To be considered for the programme, applicants should already have an initial concept development showing a deep understanding of the market environment and potential problems. The solutions must also be innovation-driven and scalable.

A minimum viable product that’s ready for early market testing will also make applicants stand out.

In the past two years the Venture Incubation Programme has assisted 30 startups

Applicants must also be part of a team of a minimum of two entrepreneurs, including the founder or the major shareholder.

In addition, applicants must be able to commit to spending 30-hours a week at the MTN Solution Space for the duration of the 12-week programme.

“We are looking for people who have commitment and passion. We want the doers, the movers, the makers and the creators to apply for this programme,” MTN Solution Space manager Sarah-Anne Alman said in a press release yesterday.

Valued at R300 000

The programme is valued at over R300 000 and aims to provide participating startups with mentorship, access to workshops and industry expertise that will assist digital enterprise founders to develop new ventures and validate business models.

The programme also provides participants with access to funding and the MTN Solution Space’s network.

Alman urged African digital startups to take advantage of this opportunity.

“The first 90 days of a startup are the hardest and when entrepreneurs are least supported. This programme is geared to present entrepreneurs with all the tools needed to implement their ideas and bring them to fruition,” she said.

“The idea is to inspire, nurture and equip the next generation of entrepreneurs to build a better future for the African continent,” she added.

Since its launch in 2016, VIP has assisted 30 startups. These include eating out app Feastfox, chat platform Chat2Brand, online emotional intelligence platform Mygrow and consumer neuroscience consultancy Neural Sense.

“Innovative ideas and technology disruption are the way of the future and MTN is at the forefront of helping to pioneer solutions that impact and shape the future of the continent,” said MTN Group vice president for digital services, data analytics and business development Stephen van Coller.

“The MTN Group is interested in startups that are contributing to sustainability on the African continent through digital solutions for commerce, health, education, agriculture, fintech, energy and the Internet of Things (IoT),” added Van Coller.

Featured image: MTN Solution Space via Twitter