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African start-ups invited to apply for Future of Capitalism

Staff Writer
By Staff Writer, ITWeb
Johannesburg, 04 Jul 2024
The Future of Capitalism Start-up Competition seeks tech start-ups that can transform how businesses operate.
The Future of Capitalism Start-up Competition seeks tech start-ups that can transform how businesses operate.

African technology start-ups are invited to apply for the Future of Capitalism Start-up Competition, which offers founders an opportunity to get a share of up to $1 million (R18.5 million) to accelerate their business.

The programme aims to discover and support tech-driven innovations, with the potential to enhance their efficiency and help scale the business operations.

Start-ups across the globe are provided with mentorship, technical resources and access to a global network of experts and investors.

“If your technology can transform how businesses operate, then this is the competition for you,” according to the accelerator organisers.

“We’re on the look-out for tech that can improve things like customer experience, management systems or financial processes, among others. The investment will be offered as equity funding to tech start-ups. It may be possible to offer other types of investment, depending on the unique circumstances of the business.”

The amount of investment provided will depend on factors such as how established the start-up is, as well as the potential size of opportunity – for example, the $1 million could perhaps be invested in multiple start-ups, says the accelerator.

“The amount of equity taken will depend upon a combination of the size of the investment offered and a mutually-agreed valuation of the business.”

Eight shortlisted finalists will be invited to London for the chance to pitch their innovation in front of a panel of judges – includingexperienced entrepreneurs, tech venture capitalists, investment professionals and angel investors.

Deadline for entries is 30 September. To apply, visit the Future of Capitalism Start-up Competition website.

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