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Absa-owned fintech innovation hub Rise Cape Town has launched a new initiative dubbed Rise Scalarator, which aims to assist five female tech entrepreneurs from the Western Cape scale their startups.
The initiative aims to assist black South African tech entrepreneurs who have developed a minimum viable product scale their startups. Applications for the programme close on 9 May.
Applications for the Rise Scalarator programme close on 9 May
The programme, which was co-created with Cape Town-based accelerator 88 Business Collective, is set to kick off with a 12 week bootcamp in June and will run until November.
In a statement, the programme’s project manager and 88 Business Collective founder and managing director Antoinette Prophy said Rise Scalator is “designed to focus on the female founder holistically”.
“They will have access to an advisory board, business coach, financial management, and modelling tools, as well as access to a world-class network by being based at Rise Cape Town for the duration of the programme,” she said.
In addition, the selected entrepreneurs will get the opportunity to attend monthly networking events with tech experts and investors.
Rise Cape Town ecosystem manager Camilla Swart said that the hub is “actively enhancing the trajectory of startups and increasing long-term sustainability”.
“Providing support to the five successful applicants is an important step forward in driving-long term change in the competitive world of tech,” said Swart.