New Economy Accelerator picks 10 startups for programme

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The African Transition To A New Economy (ATTANE) network has announced the 10 South African startups that will join its inaugural New Economy Accelerator (NEA) programme, aimed at developing base of pyramid (BoP) businesses.

Disrupt Africa reported last month ATTANE, a community of people looking for ways to promote an inclusive sustainable development pathway, has opened applications for the NEA programme for businesses in South Africa servicing the low income sector.

Ten startups from Gauteng, the Western Cape, Eastern Cape and KwaZulu-Natal have now been chosen for the nine-month programme, with the selection panel having considered factors such as scalability, new economy fit, employment creation, innovation and investment readiness.

The startups are Geza Jozi, Khona Cafe, Last Mile for BoP, Let’s Go Trade, Naturally Good, Sidingulwazi Co-Op, Umgibe, Use-It, Y-Waste and Zuka. Over the course of the programme, which begins next month, they will receive expert one-on-one coaching, high-quality skills training workshops and intensive business support, as well as access to finance to grow their businesses.

Expert webinars and fireside sessions will also be offered with experts in variety of topics related to investment readiness, global expansion, media, government engagement and business development.

“These enterprises form the building blocks of an inclusive and prosperous society,” said programme convener Dr. Mao Amis.

Michael Weatherhead of the New Economy Foundation said the NEA was an important initiative as it supports radical experimentation in order to carve out a “different way of doing”.

“It creates the space for a different definition of economic activity and does so with practical examples on the ground. People are crying out for actual examples of doing things differently and the activities of the programme participants provide those examples of how to support a flourishing society within planetary limits,” he said.

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Passionate about the vibrant tech startups scene in Africa, Tom can usually be found sniffing out the continent's most exciting new companies and entrepreneurs, funding rounds and any other developments within the growing ecosystem.

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