New USD 17 M Seed Fund Aims to Bridge Funding Gap for South African Startups
WeeTracker | WT Data Labs - Oct 06, 2024
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Technology Innovation AgencySA SME FundE Squared InvestmentsDepartment of Science and InnovationSouth Africa
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  • Launch of a USD 17 million seed fund for South African startups
  • Consortium includes SA SME Fund, DSI, TIA, and E Squared Investments
  • Fund aims to support at least 50 local startups
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The establishment of the Seed Fund of Funds is a significant step towards nurturing early-stage tech startups in South Africa, which have historically struggled to secure funding. This initiative not only addresses a critical gap in the venture capital landscape but also aligns with global trends of fostering innovation as a means to drive economic growth and job creation. Continued support and monitoring of the fund's impact will be essential for its success.
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