Why SA’s start-ups are not winning any races
Lack of early-stage funding, poor skills preparation and too little holistic focus are just some of the hurdles
The start-up scene in SA is burgeoning. There are more than 300 incubators and entrepreneur development organisations and a few industry bodies. The available capital pool has increased substantially in recent years and throw a stone in Johannesburg or Cape Town and it will hit a start-up co-working space. According to a report, Unicorns, Gazelles & Leapfrogs: Fast-tracking the South African start-up ecosystem, there have been successes. The report, released last week, showcases wins such as education tech company GetSmarter being sold to US-listed 2U in April for more than $100m; fintech businesses such as WiGroup and Yoco, which are experiencing exponential growth in SA and on the continent; health tech start-up LifeQ which has formed a prosperous relationship with Garmin US; and Johannesburg recruitment company Giraffe beating 54 finalists from around the globe in the last Seedstars World entrepreneurship competition. In March, Johannesburg was the first African city to host the ...
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