SA’s I’M IN Accelerator to provide startups in 2020 cohort with up to R1.5m in funding [Updated]

UPDATE 20 January 2019: Subsequent to this article being published, I’M IN Accelerator told Ventureburn that it will provide startups that are accepted into its 2020 cohort with up to R1.5-million in funding instead of the R1-million which it had initially stated in its earlier statement. The accelerator attributed the change to an error in its earlier statement.

SA tech startups selected to join I’M IN Accelerator‘s 2020 cohort will get access to up to R1.5-million in funding, strategic business and technical support, as well as access to the Johannesburg-based accelerator’s networks.

The seed-stage focused accelerator aims to back black-owned startups.

In a statement last Thursday (16 January) called on SA tech startups with minimum viable products (MVPs) to submit applications for its six to nine-month long programme (the length of the programme varies depending on what stage of development the startup is at).

Applications for the programme will close on 31 January and the accelerator is looking to select about 15 businesses for the cohort.

Applications for I’M IN Accelerator’s 2020 programme will close on 31 January

“For our 2020 cohort intake, we call upon South African tech startups that are actively working towards solutions that impact globalisation, spread ideas and reshape societies and economies,” the accelerator said in the statement.

The accelerator earlier this month announced the appointment of Brillianaire Consulting’s Octavius Phukubye as its entrepreneur-in-residence.

I’M IN Accelerator said in a statement at the time on LinkedIn that Phukubye will be responsible for the accelerator’s programme strategy and operating model, as well as activities that include recruitment, investment and post-investment value creation — including stakeholder, entrepreneur and strategic partner engagement.

I’M IN Accelerator, which was founded by Polo Leteka (pictured above), launched its first programme in 2017. Since then, the accelerator says it has trained 44 businesses and provided funding worth R24-million.

Read more: I’M IN Accelerator to commence with all-women cohort in May
Read more: I’M IN Accelerator aiming for an all-women cohort before the end of the year
Read more: I’M IN Accelerator finally under way, here are the startups in the first cohort
Read more: SA accelerator for black startups I’M IN tight-lipped on selection of first cohort [updated]

Featured image: I’M IN Accelerator founder Polo Leteka (IM IN Accelerator via Facebook)