Cape Town-based incubator and accelerator French South African Tech Labs (FSAT Labs) has opened the call for applications to its third class of entrepreneurs, with selected startups to receive training and support worth up to ZAR500,000 (US$41,000).
The six-month FSAT Labs programme aims to help the selected entrepreneurs turn their ideas into minimum viable products and ultimately sustainable businesses, with a focus on digital innovation in the areas of smart city, smart education, smart commerce, smart home and smart media.
The programme, which was first launched last year and has incubated eight startups to date, offers startups up to ZAR500,000 (US$41,000) of in-kind investment in the form of offices, professional training and tech services. FSAT Labs’ partners and experts will mentor and coach the selected startups.
It will also provide participating startups with access to angel investors and venture capitalists, while they will also benefit from legal, accounting, digital, marketing, communication and strategy services among others.
FSAT Labs works in partnership with the Small Enterprise Development Agency (SEDA) and international technology firm Methys, and aims to act as a gateway between France and South Africa.
Applications are open until May 27, with interested parties required to fill in an application form and build a pitch deck, which can then be emailed to FSAT Labs.
Selected startups will be invited to a pitch competition at the FSAT Labs offices in Century City on June 4, where the top four pitches will win entry into the six-month programme, which is set to kick off in mid-June.