Township tech startups accelerator launches 

Budding township-savvy entrepreneurs are encouraged to apply to a new accelerator program. 

Established by Akro Accelerate (Pty) Ltd in partnership with Imvelo Ventures (Pty) Ltd, the digital accelerator offers to create new opportunities to black-owned and founded township startups. 

The accelerator is targeted at providing assistance to black-owned township tech startups

Budding entrepreneurs will be given access to support, a network with numerous mentors, allowing them to connect with experts in their industry, and established business owners. 

Imvelo Ventures is a black-owned and black-managed VC and an approved SARS section 12J Venture Capital Company. They support companies across all life cycles, as long as they represent interesting and commercial investment opportunities. 

Anton Baumann Board member of Imvelo Ventures explains that as a Johannesburg based investment company they are a strong supporter of entrepreneurship in South Africa 

“We aspire to unlock growth opportunities for both the startups in townships as well as for our partners. We look for South African businesses that embrace transformation, and we know that the townships have what we are looking for: disruptive business models, scalable businesses, and strong entrepreneurs that show resilience and leadership.” 

The partnership between the duo is seamless due to Akro’s capacity to assist entrepreneurs at each stage in the life-cycle of their ventures paired with Imvelo’s commitment to the sector. 

Akro’s motto ‘Think Bigger, Build Better, Move Faster’ is integral to everything they do and they understand the most valuable way to move a startup forward is through practical, hands-on assistance. 

This partnership with Imvelo Ventures mirrors Akro’s values and strategy that this will be a seamless integration of the overall mandate and focus of both stakeholders to give the opportunity to township startups. 

The founder is integral to any progress for a startup, and thus ensure that Founder Growth is an essential pillar to the work they do with startups. 

Basel comments on the importance of the development of skills for entrepreneurs. 

 “Entrepreneurship is a long, difficult journey that can be isolating, and we know that resilience is important – as well as knowing your own strengths and weaknesses. We cannot ignore this core element of a startup’s success or failure, whilst working on strategy, systems, and tech development.” 

The accelerator programme 

The accelerator programme begins on 7 September 2020, and is broken down into three elements: 

● 20 startups will join a filtered eight-week coaching and mentoring programme. 

● 10 startups will be offered a more in-depth, high-touch intervention, which culminates in Demo Day on 6 November 2020, where each of these 10 startups has the opportunity to pitch for one of three grants to the value of R100 000. These grants will be awarded at the sole discretion of Imvelo Ventures. 

After Demo Day, the 10 finalist startups will continue with ‘light touch’ assistance for a further 12 weeks. 

Please note that all startups applying must have access to technology and data whereby they can access group webinars. 

Applications for this progamme close on 21 August 2021. Includes a chance to win 1 of 3 R100,000 in grant funding (at the sole discretion of Imvelo Ventures)

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