HumanIPO reported in February Seed Engine, founded by Marc Elias, had invested ZAR100,000 (US$11,400) in each of the six startups that had joined their 13-week programme which also includes office space and close mentorship.
Entrepreneurs and startups hoping to apply for the next accelerator round should visit the Seed Engine website.
Elias said: “We are looking for early stage tech entrepreneurs who have killer ideas and big dreams and who are ready for a life-changing journey.”
The six startups currently occupying the space are IntelliCred.com, Cirqls.com, After-Class.co.za, Zehoo.me, ChowHub and OnQ.
Regarding how the first programme is going, Elias said: “There is tremendous energy in our Sandton based engine room. All the entrepreneurs are making excellent progress and Seed Engine is having an immediate impact on the six start-ups and their founders.”
The Demo Day for the startups will take place on Friday, May 3, where they get a chance to show their product or service off to potential future investors.
Elias added: “Demo days provide investors with an opportunity to get involved in high growth start-ups at a very early stage. The Seed Engine programme has been developed to cater for these investors needs, getting each venture investor and growth ready.
“85 per cent of the ventures going through the top tier accelerators in the USA continue trading after four years which defies typical start-up statistics because of the approach that accelerators take in building businesses.”
