South Africa’s best startups eye R15 million prize

10 of South-Africa’s best seed stage startups will compete to represent the country at the Seedstars Summit and win up to $1 million (R15 million) in equity investment.

In partnership with Standard Bank, Seedstars World will host pre-selection events in Cape Town, Durban and Soweto and invite the top three from each city to the grand finale hosted at the Standard Bank Incubator in Johannesburg.

ISeedstars World said it will visit 65 countries in 2016 to identify the best seed-stage entrepreneurs and provide them with an opportunity to win up to $1 million and network with investors and mentors from around the world.

Events will be held in Cape Town on May 27, Durban on June 8, and Soweto on June 14.

Companies applying need to be less than 2 years old, have raised less than $500,000 in funding and have built a minimum viable product, ideally with existing traction.

After the pre-selection events in Cape-Town, Durban and Soweto, up to 10 of the best seed stage startups will be invited to the grand finale in Johannesburg to pitch for the opportunity to compete at the Seedstars Summit, that takes place every year in Switzerland.

In 2015, South-Africa was represented by Giraffe, who was announced the global winner of Seedstars World’s 2015 edition.

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South Africa’s best startups eye R15 million prize