The winner of the upcoming the Startup Accelerator, organised by IBM South Africa and Tshimologong Digital Innovation Precinct, will go away with a prize of R500 000.
The initiative offers an opportunity for emerging black enterprises in the tech space to pitch for growth support. To win the investment, the tech startups need to demonstrate how the investment will be used to accelerate the business. The growth trajectory the investment will yield must be based on tangible outcomes simulating financials and thus demonstrating an increase in revenue or job creation. The investment must include their technology requirements for both internal operations and product scaling.
Interested participants need to ensure their business has a minimum of one-year trading as a CIPC registered business. The Growth Stage Tech Startup should be Black South African owned and managed entity with turnover of between R120 000 and R50 million per annum. And the owner must be actively involved in the business.
This year’s startup accelerator is set for the 8 October 2018 to 16 November 2018. The Startup Accelerator is designed to enable the development of Growth Stage Tech and Digital Startups, using a bootcamp format that will run over six weeks.
The organisers said the bootcamp will focus on enablement and development through a series of short, intensive and rigorous modules. Each module is specifically selected to address skills, resources, infrastructure and technology growth within the startup. The bootcamp culminates in an investment proposal and pitch.
Shaun Randles, Enterprise Development Manager at the Tshimologong Precinct, said “Growing technology startups has long been a focus of the Precinct and we are pleased to partner with IBM SA to further develop this vital segment of the market. This bootcamp is centred on investment, one of the critical elements of any growing business. We look forward to working with the teams to make a bottom-line investment in tomorrow’s future technology leaders,”
The Startup Accelerator is an initiative of the Enterprise Development Programme (EDP), one of 3 streams of the IBM SAEquity Equivalence Investment Programme (EEIP). The EDP is focused on the enablement of entrepreneurs and businesses with a highly specialised ICT focus in globally relevant areas of technology such as Big Data Analytics, Cloud Computing, Internet of Things and Cybersecurity, amongst other things.