AWS to incubate 100 black SA entrepreneurs in $25m initiative

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Amazon Web Services (AWS) has partnered South Africa’s Department of Trade and Industry (dti) to incubate 100 black entrepreneurs as part of a ZAR365 millon (US$25 million) initiative.

Signed on the sidelines of the South Africa Investment Conference this week, the agreement will see AWS invest ZAR365 million (US$25 million) in the dti’s B-BBEE Equity Equivalent Investment Programme (AWS EEIP).

The fund will be invested in the development of 100 per cent black-owned South African small businesses within the ICT sector, with these businesses to be brought into the AWS supply chain and receive incubation.

Teresa Carlson, Amazon vice president: worldwide public sector, said the venture was a long-term project.

“I’m sure we’ll find many other ways to work together and prosper,” she 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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