European micro seed fund Seedcamp has invited three South African start-ups to London to compete for a possible investment of EUR50 000.
Seedcamp recently hosted an Africa Seedcamp week and put out a call for applications for funding, which received more than 40 entries from technology start-ups across SA.
Of those 40 entries, Cognician, iSigned and GetAGreatBoss have made it to the next round of selection at Seedcamp London Week, and will now join other top start-ups from 16 different countries.
“At the end of this week, the top teams selected will benefit from a further intensive three-month support programme, where we work closely with teams to develop their business and ideas,” says Seedcamp CEO Reshma Sohoni.
The three-month support initiative includes focus on mentorship from the Seedcamp team and the network that stretches across the US and Asia.
African innovation
“Seedcamp has always had an interest in the entrepreneurial scene in Africa, and feels it is very under-represented throughout the EMEA region. We feel it is the right time for Seedcamp to help unearth some real entrepreneurial talent we know is just itching to get noticed, and become part of the wider entrepreneurial community,” says Sohoni.
Cognician is described as a "thought processor" solution provider, offering software that allows users to create, exchange, and view “cogs” - mindmaps - developed on specific topics or content to speed up recognition and learning.
“Cognician looks at an old problem from a different angle. This is something that can disrupt markets and the future plans of the team have convinced us to invite them to London,” adds Sohoni.
“What attracted us to Seedcamp was the interaction with top-level mentors. Not just investors, but product and marketing people too. Because starting a new company with limited resources means that you have to be a jack-of-all-trades. One minute, you're the admin department, the next you're forecasting turnover and right after that you're pitching your business to a room full of people you've never met,” explains Cognician COO Patrick Kayton.
The second company selected, GetAGreatBoss, offers users an opportunity to rate their boss, as well as get feedback from employees.
The third finalist, iSigned, offers secure storage for important documents and contracts.
“A great founder with multiple years of experience in the tech industry, Gareth Ochse has identified a great niche to focus on. The current traction and his approach to the market made us curious, so we took him on,” concludes Sohoni.
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