Latest news with #Pranary
IOL News
5 days ago
- Automotive
- IOL News
Bolt Invests over R400 000 to support emerging mobility entrepreneurs in SA
Launched in December 2024 in partnership with business academy Pranary, the program attracted over 578 applications nationwide, with Gauteng submitting the highest number. Image: Supplied. E-hailing company Bolt said it concluded its first Accelerator Program in South Africa, awarding €20,000 (over R400 000) in funding to ten participants. Bolt said that the initiative marked a significant step in the company's efforts to support entrepreneurial growth within its driver and courier community. Launched in December 2024 in partnership with business academy Pranary, the program attracted over 578 applications nationwide, with Gauteng submitting the highest number. Women made up 7% of the applicant pool. "When we empower everyday entrepreneurs with the tools to build, we don't just ignite businesses, we transform communities and shape the future of Africa's mobility. True innovation thrives in an ecosystem where ideas are nurtured, collaboration is championed, and every voice has a seat at the table. At Bolt, we're building more than a platform, we are cultivating a movement," said Lerato Motsoeneng, Bolt's Senior General Manager for South Africa. After a rigorous selection process, 120 drivers and couriers were chosen to join the Bolt Academy, where they received training in key areas such as market analysis, value proposition design, customer validation, and basic financial modelling. Twenty participants advanced to the final phase, where they worked closely with industry experts and mentors to refine their ideas. Their journey culminated in a live pitch event, with a panel evaluating their concepts on innovation, feasibility, and community impact. Each of the ten selected finalists received €2000 (over R40,000) in seed funding and will participate in six weeks of additional mentorship to further develop their ventures. At the awards event, three individuals received special recognition for their groundbreaking contributions to innovation and entrepreneurship. The awards highlighted excellence across three key categories: Kamogelo Modise received the Most Innovative Idea award for Lupa Township Delivery A sustainable, cost-effective, zero-emission bicycle delivery network designed to bridge the delivery gap in township communities through a community-driven model. Vutivi Shivambu was awarded the Most Scalable Idea for Liftsearch A ride-sharing platform that connects verified passengers with verified drivers, offering safe, affordable, and convenient long-distance travel to and from rural villages. Shannon Adams won the Best Pitch award for platform that links tourists with vetted drivers who also act as tour guides, enhancing travel experiences with local insights and safe transportation. Sandras Phiri, CEO of Pranary, emphasised the importance of practical application. 'These participants didn't just sit through lectures, they built real businesses,' he said. 'Our mentorship approach brought in active founders and investors to guide them in creating ventures that are not only viable but needed. These entrepreneurs are addressing genuine challenges in the transport space.' The Gauteng Department of Economics (GDED) is Bolt's strategic partner in creating a vibrant economy in Gauteng. Mpho Nawa, the acting Head of Department at GDED, lauded the Accelerator Program as a game-changer and said it was an example of initiative that impact our communities. 'The initiative signifies our commitment to playing a leading role in supporting initiatives that empower communities and create rising stars. This partnership would help with job creation and unlock further economic growth and diversification in townships, leading to more investment from various sectors. This will help us develop a vibrant and competitive economy in the townships, especially in the digital sector. As a Government that cares we recognise the pivotal role that innovation plays in uniting our country. This partnership with Bolt marks a significant step in supporting township businesses," Nawa said. The Accelerator Program reflects Bolt's 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.
Zawya
7 days ago
- Business
- Zawya
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. Image supplied 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 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. Provided by SyndiGate Media Inc. (
