Start-up funding is critical for a thriving innovation ecosystem.
South Africa, as Africa’s third largest and most diversified economy on the African continent, holds immense potential for economic and social development. With its abundant natural resources, youthful population, resilient infrastructure, and deep capital markets, South Africa can regain its position as a dynamic force on the African stage.
The Start-up Act lobby group also focuses on the most pressing issues that younger generations care about, given the relative youth of founders. High on its priority list are issues around energy transition and climate change, along with the varied consequences of this. This funding is critical for nascent innovations to get off the ground, gain some traction, and help start-ups be geared for successful fundraising to scale up.
Closer to home and following the trend, 2021 saw funding in the South African ecosystem reach the top of its apex – bringing the country to second in terms of total funding to start-ups in 2022. But it was short-lived: In 2022, South African start-up funding fell to fourth behind Nigeria, Kenya and Egypt, with early-stage funding particularly hard hit.
The recently launched progress report for 2022/23 reported: Over 2022, traction was gained with the public sector, with the introduction of the Sona announcement on start-up Visa and red tape reduction by President Cyril Ramaphosa, among others. Successes hailing from Tunisia and Kenya show promise, and South Africa can greatly benefit from such a regulatory framework.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
CT Spurs Appoint Technical Director After Poor StartCape Town Spurs have confirmed the appointment of a technical director after starting the season with seven straight losses.
Read more »
Matlou optimistic of Chiefs success despite slow start“No matter how many minutes I play, what matters most is me playing, giving my best,' says Matlou.
Read more »
EA launches FC 24 in fresh start after Fifa splitEA has launched its first soccer game without the Fifa tag, betting FC 24 will maintain the momentum in its top franchise.
Read more »
Oil Prices Up Nearly 30% in 3rd Quarter at Highest Level Since Start of Ukraine ConflictNEW YORK (Sputnik) – Crude prices fell on the last trading day of September on growing unease over how the world might cope in the coming months with increasing energy costs, but those betting on higher oil prices still won big on the month and quarter, helped largely by the Saudi and Russian production cuts. […]
Read more »