Second round of Seed Engine Business Accelerator opens
The Seed Engine Business Accelerator programme has opened a second round of applications for early stage technology entrepreneurs.
The programme offered R100 000 and a 13-week boot camp for up to ten selected start-ups to turn their technology business ideas into international ventures.
“The search is on to find up to ten distinctive and disruptive business concepts. There’s been a dearth of tech start-ups in South Africa, but we are turning this around by growing an integrated ecosystem, which will contribute to job creation,” Seed Engine CEO Marc Elias said in a statement.
The programme, a Redwood Capital initiative, offers, besides others, coaching, mentoring, workspace and seed capital in exchange for equity.
The programme would also enable the entrepreneurs to raise more than R2-million in a second round of funding and mingle with potential investors at a demo day hosted by Seed Engine.
Seed Engine had already selected six ventures for its first 13-week accelerator boot camp, during the first round, which attracted over 300 applications.
The boot camp was currently under way in Sandton, Johannesburg, with the first demo day scheduled for May 3.
The next programme begins in June 2013.
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