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SA’s Awethu to offer top incubatees $8k investment

SA’s Awethu to offer top incubatees $8k investment

South African SME investment company Awethu has opened applications for its Micro-Business Incubator, with the top three performers to receive equity investment of up to ZAR100,000 (US$8,000) in their startups.

Disrupt Africa reported last year Gauteng-based Awethu was utilising partnerships with South Africa’s Jobs Fund and the Small Enterprise Finance Agency (SEFA) to incubate and invest in entrepreneurs in the province.

Awethu runs six-month incubator programmes for startups, funded by the Jobs Fund, and also recently partnered SEFA to launch a ZAR64 million (US$5.7 million) investment fund for selected startups.

Applications are now open until August 31 for its incubator, with 240 spaces available for the six-month programme that begins in October. The value of the programme is ZAR45,000 (US$3,700), with the best three performers in the incubator to receive equity investments of up to ZAR100,000.

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