AlphaCode selects four South African Startups for additional funding
Four startups were selected to proceed, receiving additional funding of US$35k each and three months of personalized business support.
The four startups are:
- AgriCool is an e-marketplace that connects smallholder farmers and consumers to a fair and reliable market.
- Bento is an out-of-the-box employee rewards and benefits network.
- Imfuyo Technologies is a smart farming solution that offers livestock farmers greater control of their operations at affordable prices.
- MatchKit is a platform that helps athletes better monetise their careers.
“Despite a turbulent year, a number of entrepreneurs saw an opportunity to fill a void in the financial services and related industries sector. Those who placed in the top four received additional support and mentorship. The intensive curriculum began with an emphasis on entrepreneurship and the refinement of business models. The second step will concentrate on revenue generation, according to Andile Maseko, AlphaCode’s head of ecosystem development.
“We were blown away by the degree of determination shown by these ten startups as they concentrated on increasing traction using what they learned on the AlphaCode Incubate program. Every year, the quality of these concepts improves. “We look forward to growing the four businesses,” Dominique Collett, head of AlphaCode and a Rand Merchant Investments Holdings (RMI) executive, said.
The four startups will also be eligible to apply for seed funding from AlphaCode’s fund, which invests in early-stage companies.
Source: Further Africa