Written by A Botha
Having just completed 2 weeks of workshops on Start-ups in SA, I would like to say that although it is difficult to start a business and obtain funding, if you have a dream.....FOLLOW YOUR DREAM! and success will FOLLOW YOU.
The following article from :http://finweek.com/2013/10/29/entrepreneurship-new-opportunites-for-sa-start-ups/ October 29, 2013 shows that there is "movement" out there. A business accelerator called Seed Engine, offered 6 new ventures the opportunity to present their business plan and obtain funding. They were chosen from 300 applications.
Says Marc Elias, CEO of Seed Engine: “We take a 20% stake in each
business, so we are invested in the outcome. Interestingly, the average
valuation of each of the ventures at the start of the journey is
R500 000. At Demo Day, where they pitch their ideas to potential
investors, the average is around R3m – a substantial increase in a very
short time."
He also said:“We take people with strong ideas and we turn them into
leaders.”
A list of current ventures can be found in the original article. If anybody is interested to apply for Seed Engine’s next accelerator starting in February 2014 they should go to www.seedengine.co.za. Contact Seed Engine if you would like to attend the next Demo Day. (I am in no shape of fashion involved or receive compensation for this post.)
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