South Africa: Bolt backs township mobility startups with $22,664 accelerator boost
Ten new ventures born from Bolt's first South African startup accelerator show promise in transforming transport and tourism.
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Bolt has invested €20,000 (approximately R406,600) in seed funding for ten emerging South African entrepreneurs, marking the end of its first-ever Accelerator Program in the country. The initiative, launched with startup academy Pranary, was open to drivers and couriers on Bolt's platform — aiming to turn gig workers into business builders.
From 578 applications, 120 candidates joined a business boot camp covering market analysis, financial modelling, and product validation. Twenty made it to the final round, pitching their ventures to a panel of judges. The top ten each received €2,000 (approximately R40,660) in seed funding.
Three standout entrepreneurs received special recognition:
- Kamogelo Modise: Most Innovative Idea for Lupa Township Delivery, a zero-emission bicycle delivery network tailored for township communities.
- Vutivi Shivambu: Most Scalable Idea for Liftsearch, a ridesharing platform connecting verified passengers and drivers for long-distance rural travel.
- Shannon Adams: Best Pitch for Explore.Sa.App, linking tourists with vetted drivers doubling as local guides.
Each finalist will also participate in six weeks of additional mentorship to further develop their ventures.
Sandras Phiri, CEO of Pranary, emphasised the programme's practical approach:
'These participants didn't just sit through lectures; they built real businesses. Our mentorship brought in active founders and investors to guide them in creating ventures that are not only viable but needed.'
The Gauteng Department of Economic Development (GDED) partnered with Bolt in this initiative. Mpho Nawa, acting head of department at GDED, stated:
'This partnership helps with job creation and unlocks further economic growth and diversification in townships, especially in the digital sector.'
Bolt's Accelerator Program reflects its broader aim to empower its driver and courier community with opportunities beyond the ride, helping them become active contributors to the country's evolving mobility landscape.
All rights reserved. © 2022. Bizcommunity.com Provided by SyndiGate Media Inc. (Syndigate.info).
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