The first 10 startups to complete 88mph’s Cape Town accelerator programme will pitch to potential investors at Demo Day on Thursday, April 25.
The ten startups joined the programme at the start of February, originally nine to be joined later by Zapacab, and have since benefited from 88mph investment, incubation and mentorship.
Speaking to HumanIPO Sylvia Brune, programme manager at 88mph, said: “I think we have got all 10 startups to a place where they are addressing real market needs and have brought their products to a stage where customers are actually willing to pay for them.”
The Demo Day will be held at the 88mph Garage, in the Woodstock Exchange, Cape Town, with the first part, from 4pm, open to VIPs only.
Others are welcome from 6.30pm, with the second round of pitches open to the public and beginning at 7pm.
Regarding what 88mph and the startups want to achieve from Demo Day, Brune said: “None of the startups will be cashflow positive within half a year or a year so to continue their growth and make sure they survive and our investment doesn’t get lost, the main goal is to get them follow-on funding.
“That is why investors are the key target for Demo Day. It is about getting as many investors as possible excited about the same idea. Investors don’t like to invest alone.”
As to what kind of people who should be attending the public part of Demo Day, Brune said they could be potential clients or customers of some of the startups or even people with the relevant experience or skills to join one of the teams.
She said: “If the startups do get the next round of funding then they will need to build up their teams pretty quickly.”
Among the startups are Near A Builder, a platform for consumers to be connected to trusted tradesmen, property web application The Massive, run by a sibling trio, and Easy2Map, which launched its application mydoorhandle last week.
Online video streaming service Wabona has already won a place on the U-Start trip to Milan next month to meet a network of European investors.
The other startups on the programme are Peach Payments, ShopDeploy, ApexPeak, Homebug and Adrenaline Hunter.
People interested in attending Demo Day on Thursday, April 25, from 6.30pm, can RSVP here.
