The SA Innovation Summit, Africa’s largest start-up event, has launched ANDZA, a competition which will offer SA’s top entrepreneurs the chance to be considered for R10 million in investment funding and acceleration.
The winner will also receive a cash prize of R250 000 while each of the two runners-up will receive R125 000.
ANDZA is being launched in collaboration with the SA SME Fund which is committed to developing South African entrepreneurs as an integral part of developing the country’s economy.
ANDZA – a XiTsonga word meaning to grow and multiply in great numbers resonates with what the competition aims to achieve; which is to develop SA entrepreneurs and fast-track them to success.
Following an extensive search throughout the country for South Africa’s most innovative and talented entrepreneurs, the field will be narrowed down to the 10 best start-ups who will pitch their businesses in front of a panel of industry leaders at the 2019 SA Innovation Summit which is taking place in Cape Town from 11-13 September.
Chairperson of the SA Innovation Summit, Dr Audrey Verhaeghe, says: “I am thrilled to collaborate with the SA SME Fund. It enhances the Summit’s footprint as a giant accelerator for the economy. We link start-ups and entrepreneurs with markets and funding. The ANDZA competition is the vehicle that takes this impact to the next level.”
ANDZA will focus on seed, venture and growth stage businesses. The top start-ups will be considered for acceleration to the value of up to R10 million through the SA SME Fund's partners, which include Knife Capital, 4Di Capital and Savant Capital. In order to be eligible for acceleration, participants will need to meet the requirements of the specific accelerator.