BUSINESS Cape Town hosts local Startupbootcamp tech solutions programme

GLOBAL industry- focused accelerator group Startupbootcamp launched a programme in Cape Town as it seeks to set up a footprint in Africa.

The group said start-ups from around the world could now apply to be part of the intense support programme which would be run for three months. It said appli- cants should be in a position to provide technology solutions applicable to diversified financial services and related industries. The launch comes after a trend analysis found that 161 applications to the global programme invested in eight teams from Africa in total, three of which are in the current InsuTech cohort. The programme, which begins in September, will bring together top start-ups from around the world, a mentor network of industry experts and entrepreneurs and major players in banking, insurance, consultancy, leasing and technology as founding partners.

Startupbootcamp said the programme would see 10 selected provided with 15 000 each. Economic Opportunities MEC Alan Winde welcomed the accelerator to Cape Town.

“Startupbootcamp’s decision to launch their African programme in Cape Town speaks to the business confidence they have in the Western Cape. The region has emerged as a centre for venture activity in South Africa,” Winde said, adding that the majority of South Africa’s start-ups are based in the Western Cape and 75% of venture capital deals were concluded in the prov- ince.

“The onset of the fourth industrial revolution is dismantling the barriers to entry in most industries, generating an increase in the number of people who can meaningfully participate in the economy. This is why we have prioritised the support of entrepreneurs in the Western Cape, and expanding access to affordable public internet. Startupboot- camp will play an important role in growing innovative entrepreneurs.”

Zach George, co-managing director of the Cape Town programme, said; “We are thrilled that for the very first time in Africa, a comprehensive integrated programme exists to provide corporations across multiple industries the ability to engage directly with innovative technology- focused ven- tures, establish commercial engagements and explore direct investment opportunities.”

Philip Kiracofe, co-managing director of Startupbootcamp Cape Town, said: “The African tech and digital landscape is growing exponentially, and we believe that the future of innovation will come from Africa. Cape Town is one of the most vibrant and creative hubs on the continent.”