The SA Innovation Summit has launched the ANDZA competition, which will offer entrepreneurs the chance to be considered for ZAR10 million (US$616,000) worth of funding and acceleration.
Launched in collaboration with the SA SME Fund, ANDZA – a XiTsonga word meaning “to grow and multiply in great numbers” – aims to develop South African entrepreneurs and fast-track them to success.
ANDZA will focus on seed, venture and growth stage businesses, offering 10 startups the chance to pitch their businesses in front of a panel of industry leaders at this year’s SA Innovation Summit in Cape Town on September 11-13.
The winner will receive a cash prize of ZAR250,000 (US$15,400), while two runners-up will each receive ZAR125,000 (US$7,700). All selected startups will be considered for acceleration to the value of up to ZAR10 million through the SA SME Fund’s partners, which include Knife Capital, 4Di Capital and Savant Capital.
“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 startups and entrepreneurs with markets and funding. The ANDZA competition is the vehicle that takes this impact to the next level,” said SA Innovation Summit chairperson Dr Audrey Verhaeghe.
Applications are open until July 19.