Entrepreneurs on the fast track to success
Absa’s Rise innovation hub names entrepreneurs to join intensive 12-week boot camp
FIVE female tech entrepreneurs have been selected to participate in an entrepreneurship assistance programme, which is set to greatly boost their business and help close the gap in gender equality in the technology sector.
The five finalists, all based in the Western Cape, were selected by Absa’s Rise innovation hub at its Cape Town facility.
Camilla Swart, an ecosystem manager at Rise Cape Town, said according to the most recent Global Entrepreneurship Monitor, South Africa, despite climbing up one spot to rank 22nd in terms of gender parity, still had a way to go in closing the entrepreneurial gender gap. Currently, only seven women are engaged in early stage entrepreneurship for every 10 male entrepreneurs.
Swart said some industries had more work to do than others when it came to levelling the playing field. CLOSING GENDER GAP: Camilla Swart
She highlighted the technology sector as one such area that required additional support in terms of driving diversity and inclusion and local programmes.
Swart said the initiative aimed to plug the so-called “leaky tech pipeline” by actively focusing on black female business founders, and the five chosen participants had recently been announced.
“The chosen entrepreneurs will enter an intensive, 12-week boot camp that is set to culminate in a funding pitch to potential investors at Rise. Absa is thrilled to be able to support this programme, which will essentially allow the chosen female tech founders access to a world-class network by being based at Rise Cape Town for the duration of the programme,” said Swart.
Economic opportunities MEC Alan Winde said although youth unemployment was a major cause for concern in South Africa, entrepreneurs had the ability to change the picture by creating jobs for themselves and others.
“We are particularly pleased when private sector players like Absa recognise the need to develop our young entrepreneurs and nurture their big ideas here in the Western Cape.
“These five women all have great, innovative ideas that have real potential to contribute to job creation and we wish them well,” said Winde.
The five finalists are Miriam Vallie, founder of online store Lily Brinjal; Tarryn Abrahams, founder of online store Boudoir Box; Mpho Sekwele, founder of SintuOnline; Santina Iya, founder of Rydwith Holdings Security Tech; and Lizzy Mabena, founder of Zedek Fibre Telecomms, a fibre infrastructure provider.
Antoinette Prophy, the co-creator of Rise Scalerator, said, “Being part of the extensive Rise community will no doubt have a ripple effect and benefit the entrepreneurs well beyond the funding pitches.”
‘THESE FIVE WOMEN ALL HAVE GREAT, INNOVATIVE IDEAS THAT HAVE REAL POTENTIAL TO CONTRIBUTE TO JOB CREATION AND WE WISH THEM WELL’