Accelerator program calls for disruptive South African agritech and clean-tech startups

Anza Capital, a Pan-African venture capital (VC) firm, in collaboration with the Institute for the Future of Work (IFOW) at Tshwane University of Technology (TUT), has introduced the Innovating for Tomorrow: Anza-TUT Future Tech Challenge. This initiative aims to stimulate innovation and entrepreneurial development.

As per the announcement, the challenge is designed to discover and expedite the growth of start-ups with high potential in the fields of agritech, digital technology, and clean technology.

The competition presents an opportunity for start-ups to compete for up to R5 million in VC investment from Anza Capital, contingent upon a thorough due diligence process. The challenge serves as a springboard to empower tech entrepreneurs and assist them in mastering the intricacies of expanding their businesses.

TUT has announced its commitment to offer substantial in-kind support and access to its comprehensive resource infrastructure for the initiative.

Participants selected for the challenge will gain exclusive entry to the SA Innovation Summit 2024 (SAIS), where they will have opportunities to pitch their ideas, engage in networking, and attend specialized workshops aimed at enhancing their potential for securing deals.

The SAIS is renowned as Africa’s premier start-up event, attracting a confluence of entrepreneurs, investors, and innovators from across the continent to exchange ideas, build connections, and encourage cooperative efforts.

Dr Unene Gregory, the IFOW manager for public-private partnerships, expressed enthusiasm about the partnership with Anza Capital for this venture. The challenge is in line with IFOW’s goal to collaborate with key players in advancing impactful research and innovations, especially those related to the fourth industrial revolution (4IR), which tackle societal issues. This initiative also supports TUT’s vision of being a university that transforms knowledge into practical applications, including conducting meaningful research.

Anza Capital, an early-stage VC firm, is committed to propelling innovation and growth within the agritech, digital tech, and cleantech sectors.

Van-Lee Gunyere, a principal at Anza Capital, remarked on the collaboration with TUT, highlighting the firm’s role in nurturing early-stage tech and innovation start-ups to contribute to Africa’s economic growth.

Gunyere pointed out that African nations typically invest only 0.42% of their GDP in research and development, with only a few reaching close to 1%, compared to the global average of 1.7%. Anza Capital seeks to bridge this funding gap by helping local universities commercialize their research and intellectual property on a global scale.

The 2023 African Private Capital Industry Survey indicates that Southern Africa has shown resilience in investment, with a 26% volume of investments and a 44% share in investment value.

Start-ups that satisfy the eligibility requirements, such as demonstrating substantial growth potential or owning unique deep tech or intellectual property, are invited to apply.

The challenge aims to foster talent based in South Africa, contributing to the dynamism and endurance of the local innovation ecosystem, as emphasized by TUT and Anza Capital.

Interested innovators are required to submit their application by 31 May.

For more information on the challenge and to submit entries, visit the challenge website.