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Startupbootcamp Cape Town's top 10 startups sign 32 deals
Last week, the Startupbootcamp cohort showcased its top 10 startups, selected from a pool of 514 applicants, to global investors, sponsors and partners at its first Africa-based demo day in Cape Town.
This inaugural African Startupbootcamp programme helped bridge the gap between corporates and startups with the top 10 startups securing a record number of 32 signed agreements with large companies. These 32 agreements that were facilitated by the Startupbootcamp Cape Town team included pilots, proof of concepts, experiments and contracts with the sponsors, partners, investors and other corporates.
“Demo day represents the culmination of more than two years of collaboration with leading global stakeholders focused on innovative technology-driven solutions to challenges faced on the African continent. Startupbootcamp Cape Town is the first mentor-driven, multi-corporate backed accelerator programme for top-tier tech ventures in Africa,” says Philip Kiracofe, co-MD of Startupbootcamp Cape Town.
A first for accelerators globally, the Startupbootcamp Cape Town programme incorporated a fractional investment platform, EasyEquities, which allows anyone to invest in these startups. Now anyone can boost these 10 African startups and their own investment portfolio by joining the crowdfunded SA Startup Basket through EasyEquities, available from 15 December 2017.
When the programme started earlier this year, six of the ten companies had no revenue and two didn’t even have concrete products. Now, all of the top 10 are generating revenue and have commercial contracts. Two of the startups have also broken even in less than three months. All these budding businesses have either received or actively engaged in discussions to raise funding from angel investors and venture capitalists. Two of the startups, Fo-Sho and Brownie Points, secured investment well ahead of demo day.
“This was the first multi-corporate backed, multi-sponsor backed Accelerator on the continent and it proved in demonstration that startups and corporates can collaborate successfully in the innovation space,” states Zachariah George, co-MD of Startupbootcamp Cape Town.
