Access to funding and “technical skills” are among the top “perceived constraints” on entrepreneurs in Cape Town, early results from a Silicon Cape survey have demonstrated.
Silicon Cape has published the first results from their State of South Africa’s Tech Startup Industry survey today.
So far 225 people have responded to the survey, which will remain open until June.
Alex Fraser, Silicon Cape chairman, said: “Through mapping the Silicon Cape ecosystem we can see where our strengths and capabilities lie, allowing for greater collaboration and synergies within the community, and ultimately growth of the start-up tech sector.
“In addition, Silicon Cape is committed to developing an enabling environment for tech businesses, which we can only do if we know what the big challenges are entrepreneurs face.”
Of those questioned so far, 60 per cent said they were self-funded, while only eight per cent said they had received funds from venture capitalists and two per cent from bank loans.
Other statistics revealed the education make-up of the startup sector. 35.5 per cent said their highest education level was post-graduate qualification, while 34.5 percent said university.
Of those surveyed 74 percent were already, or plan to be, involved a second startup.
Roger Norton, portfolio holder for marketing and communications, said: “There is a distinct lack of data about local entrepreneurship and we’re hoping to address that with more initiatives like this.
“The tech startup scene still requires lots more collaboration, less red tape and more support, but it is clearly moving in the right direction. To get there we’re going to have to engage with each other and continue building awesome companies.”
The survey can be filled out by clicking here.
