The first Africa-based Startupbootcamp accelerator concluded with a demo day in Cape Town last week, where it was announced participating companies had signed a total of 32 agreements with corporate partners.
Disrupt Africa reported in August 10 startups were selected to take part in the inaugural Startupbootcamp programme in Africa, namely Brownie Points, Fo-Sho, Brave, Got Bot, Just Now, Virtual Drive, Yethu, Dusu Pay, Khoyn, and MOBicure.
The aim of the programme was to help bridge the gap between corporates and startups, with the 10 startups securing 32 signed agreements with large companies. These deals included pilots, proof of concepts, experiments and contracts with the sponsors, partners, investors and other corporates.
The Startupbootcamp Cape Town programme is also incorporating a fractional investment platform, EasyEquities, which allows anyone to invest in these startups. Interested parties can join the crowdfunded SA Startup Basket from December 15.
At the beginning of the programme, six of the 10 startups had no revenue and two did not even have concrete products. Now, every company is generating revenue and has commercial contracts, while two of the startups have also broken even in less than three months.
Every business has either received or actively engaged in discussions to raise funding from angel investors and venture capitalists, with two of the startups – Fo-Sho and Brownie Points – securing investment well ahead of Demo Day.
“Demo Day represents the culmination of more than two years of collaboration with leading global stakeholders focused on innovative technology-driven solutions to challenges faced on the African continent. Startupbootcamp Cape Town is the first mentor-driven, multi-corporate backed accelerator programme for top-tier tech ventures in Africa,” said Philip Kiracofe, co-MD of Startupbootcamp Cape Town.
“This was the first multi-corporate backed, multi-sponsor backed Accelerator on the continent and it proved in demonstration that startups and corporates can collaborate successfully in the innovation space,” said Zachariah George, co-MD of Startupbootcamp Cape Town.