Posts in Tag

South Africa startup

Plans to launch Starlink in South Africa are facing delays due to Elon Musk’s attacks on the country’s Black Economic Empowerment (BEE) laws, The Financial Times reports. The policies, designed to mitigate racial inequalities formed under apartheid, require foreign investors in South Africa’s telecom sector to allocate 30% of a project’s equity to Black-owned businesses to qualify for a license. The policy is supported by the African National Congress Party (ANC), a political party in South Africa known for its opposition against apartheid. Elon Musk says the equality laws are

Google has unveiled the latest cohort startups selected for its Google for Startups Accelerator: Africa program.  The six Black-led South African startups were announced at an event coinciding with this year’s Africa Tech Festival, which was held in Cape Town, South Africa. Google for Startups Accelerator: Africa  The three-month hybrid accelerator program supports Seed to Series A technology startups led by at least one Black founder. This opportunity includes ZAR1 million ($50,000) in non-dilutive funding, up to ZAR3.6 million ($200,000) in Google Cloud credits, and access to mentorship and industry networks.  By

Registered non-profit organization Darkies in Tech has launched a new website designed to drive inclusion by providing a centralized platform for professionals of color within the South African tech industry.  Founded by Ntsako Mgiba in February 2021, Darkies in Tech has become the largest vetted community of its kind in South Africa, with over 450 members, including founders, investors, and ecosystem builders.  The community has consistently hosted educational and social events aimed at creating a more inclusive environment for Black professionals in tech. Addressing Exclusion in South Africa’s Tech Scene

A new R300-million ($15.6 million) Seed Fund of Funds has been launched to provide crucial early-stage capital for South African tech startups.  This initiative, backed by the SA SME Fund, the Department of Science and Innovation (DSI), the Technology Innovation Agency (TIA), and impact investor E Squared Investments, aims to fund at least 50 technology-driven startups. The fund seeks to address a gap in South Africa’s venture capital landscape, which has historically favored later-stage investments.  By focusing on seed capital, it will help budding entrepreneurs transition their ideas into viable

HyperionDev, a leading South African startup, has raised R95 million (approximately $5 million) to expand tech education. This latest financial infusion is part of a broader R595 million ($31.1 million) investment to accelerate the company’s expansion within South Africa and internationally, particularly in the United Kingdom. Strategic Expansion and Educational Innovation With the new capital, HyperionDev plans to broaden its reach by entering new markets and increasing tech education accessibility across its platforms. A portion of the funds will also support the expansion of the HyperionDev Academy and its scholarship programs. “This