DURBAN – Andza, a competition which aims to develop South Africa’s top entrepreneurs and fast-track them to success, will be open for entries until 19 July 2019.
Andza offers South Africa’s top start-ups the chance to be considered for R10 million in investment funding and acceleration. The winner of the accelerator will receive a cash prize of R250 000 while each of the two runners-up will receive R125 000.
The SA Innovation Summit, Africa’s biggest startup event, is hosting Andza in collaboration with the SA SME Fund.,
Andza said that the purpose of acceleration is to develop an existing business by providing support which can include training, mentorship, and other resources.
Andza is a XiTsonga word meaning to grow and multiply in great numbers which resonates with what the competition envisions for South African businesses.
Andza will focus on seed, venture, and growth stage businesses. Following an extensive, country-wide search for the country’s most innovative and talented entrepreneurs, the search will be narrowed to the 10 best startups who will pitch their businesses in front of a panel of industry leaders at the 2019 SA Innovation Summit. The summit will take place in Cape Town from the 11-13 September
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., one of the partners of the SA SME Fund.
Entrepreneurs are encouraged to take this opportunity and enter their innovative solutions before the closing date of 19 July 2019.