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The Small Enterprise Development Agency (Seda) has partnered with the SA Innovation Summit (Sais) to establish the Fem-In-Tech Development Programme. The programme aims to empower female entrepreneurs with the skills and network to grow their businesses and increase exposure to receive investment funding.
The Fem-In-Tech Development Programme is open to South African start-ups in tech and tech-enabled sectors that have female representation as founders or top management. Fem-In-Tech aims to grow female entrepreneurship in South Africa and bridge the gap for women entrepreneurs in the investment market. Participants will undergo online training culminating in a Demo Day at the Virtual Edition of the SA Innovation Summit set to take place 30 September to 1 October.
STP Executive Manager, Nosipho Khonkwane explains that the initiative aims to promote female entrepreneurship.
“There is a compelling need to grow the rate of female entrepreneurship in South Africa, particularly in the tech and tech-enabled sectors. This programme seeks to be that bridge to accessing much-needed capital investment and business networks”
The chosen 20 top startups with the potential for high growth will be matched with potential investors from around the globe. In addition, Anza Capital will take a select few on an Investor Tour with US and European investors and stand a chance to receive funding of R2 – R5 million to grow and scale their business. Through this programme, opportunities will be created with potential investors and business supporters
Fem-In-Tech will facilitate and promote the growth of a female founders community where they are able to support each other on their journeys.
The Demo Day will enable these founders to showcase their start-ups at the SA Innovation Summit and pitch their business case to potential investors. The summit will equip them with these skills prior to the Demo Day and a select group will be matched to potential business supporters and funders through the Match and Invest Platform.
Chairperson of the SA Innovation Summit, Dr. Audrey Verhaeghe comments on the importance of the initiative.
“We need to look at the performance stats in early-stage businesses to see that this asset class of female founders, needs much more attention. That is what we are doing with this programme.”
How to apply
Budding female entrepreneurs can apply online by simply registering their details.
The criteria for entries include the following:
- Applicants must be a female founder or co-founder of a business
- The business must be in operation for less than five years (minimum one year)
- The stage of development must be at seed capital, angel investment or Venture Capital
- With regards to product and innovation, it should be unique with a competitive advantage (IP/ trade secret/non-replicable x-factors)
- The business must have an attractive market size
- With regards to product maturity, it should be either minimal viable product or pre-commercial, or early-stage commercialised or ready to scale.
Seda and Sais are encouraging women entrepreneurs to take advantage of this opportunity to upskill, access financial and business support to grow and scale, gain market and media exposure, and network with potential enablers and sponsors.
Entries close on 24 July 2020 and entrants will be notified if they are successful prior to the entry closing date. The event will take place between 30 September to 1 October and will be held virtually.
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Featured image: Supplied