Startup accelerator to develop growth stage tech

October 17th, 2018, Published in Articles: PositionIT

IBM South Africa, through its Equity Equivalence Investment Programme (EEIP) together with Tshimologong Digital Innovation Precinct, have launched a startup accelerator taking place from 8 October 2018 to 16 November 2018. The programme is designed to develop growth stage tech and digital startups using a boot camp format.

The boot camp will focus on enablement and development through a series of short, intensive modules. Each module addressed skills, resources, infrastructure and technology growth within the startup. The programme culminates in an investment proposal and pitch whereby the winning participants stand in line to win up to R500 000 in required products and services.

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.

The startup will pitch its reasons why IBM should invest in the development of the business at an awards evening at Tshimologong Precinct taking place during Global Entrepreneurship Week 2018.

Participants need to ensure the 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. Turnover needs to be between R120 000 to R50-million per annum and the owner must be actively involved in the business.

Contact Tshimologong Digital Innovation Precinct, Tel 011 717-6390, info@jcse.org.za

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