Western Cape tech startups are invited to apply for the first cohort of the Cape Venture Bridge, a new programme run by AfricArise that aims to prepare them for international VC and market expansion.
AfricArise, part of the AfricArena network, is delivering the six-month programme with support from the Western Cape Government’s Department of Economic Development and Tourism (DEDAT).
Twenty startups will be selected for cohort one, to receive training on market entry beyond South Africa, cross-border finance and regulation; and investor pitching, as well as at least 12 hours of one-on-one mentorship and ZAR125,000 (US$7,500) in tech credits through programme partners. All participants will also take part in a public pitch event in Cape Town.
The top five startups will join a fully funded delegation to GITEX Africa in Morocco, which takes place in April next year, with investor and partner meetings arranged ahead of their arrival.
“Cape Town founders are building companies ready to compete well beyond our borders. The Cape Venture Bridge gives them the investment readiness, the mentorship, and for the top five, a seat at GITEX Africa in Morocco, where investors and partners are looking for exactly what the Western Cape has to offer,” said Dan Mabbyalas, director of programmes at AfricArise.
He said the programme was particularly keen to receive applications from women and young founders across the province.
Tim Parle, chief director for the digital economy at DEDAT, said the Western Cape was home to some of the continent’s most innovative technology businesses.
“DEDAT welcomes initiatives of this nature that contribute to entrepreneurship, economic growth and job creation in the province. We are particularly encouraged by efforts to broaden participation by women-owned and youth-owned businesses, as well as entrepreneurs from across the Western Cape,” he said.
The programme is open to technology or innovation-driven startups registered and operating in the Western Cape, across sectors including SaaS, climate-tech, agritech, fintech, e-commerce and e-health. Applicants must be planning to enter international markets within the next 12 months, and must be led by at least two co-founders or full-time team members able to attend programme activities.
Over its first 12 months, the Cape Venture Bridge aims to support 40 startups across two cohorts, deliver more than 80 pre-arranged investor meetings and 50 business-to-business introductions, and help facilitate over ZAR3 million (US$180,000) in capital.
Applications are here until November 15.
The post Applications open for Cape Venture Bridge programme for Western Cape startups appeared first on Disrupt Africa.