South Africa's Seed Engine is open for applications [updated]
Seed Engine, a seed accelerator based in Johannesburg South Africa, has opened the application process for its first cohort. They're looking for 10 startups for their 13 week program. Each team gets R100,000 (about $11.5k US) startup capital. Seed Engine takes a 20% stake in return. Applications are open until the end of November 2012. The first cohort will start in February 2013.
Says Marc Elias of Seed Engine, “The search is now on to find the ten best distinctive and disruptive business concepts that deserve a chance at success. We are looking for early stage entrepreneurs who have a big dream to fulfill.”
Entrepreneurs will get the standard accelerator coaching, mentorship, work space and support followed by a demo day in front of potential investors. Interested startups can apply at www.seedengine.co.za.
Seed Engine has enlisted a number of partners. Tiber, one of the largest private property owners and construction companies in South Africa, has provided Seed Engine with free rent for the first accelerator as well as assistance with the construction of the work space. Redwood Capital Partners have provided Seed Engine with capital to develop the innovative work space and will be mentoring the entrepreneurs through the activation process. Urban Everest, a coaching and leadership facilitation company have joined Seed Engine to develop the accelerator program and coach the entrepreneurs.
There's a lot happening in the accelerator/incubator scene in Africa. Here are some things we've written about in the last few months: