Today’s top entrepreneurship and business stories (5 July)
Countdown to the Small Business Expo and #BuyaBusiness Expo
Thebe Reed Exhibitions in partnership with Eskom has announced that will host two new format business exhibition titles, the #BuyaBusiness Expo and Small Business Expo, which will both be staged at the Ticketpro Dome in Northriding Johannesburg from 8 to 10 September 2016.
Both expos are designed to foster business growth through support in the areas where it is most commonly needed: business skills and relationship development.
Among the highlights of the #BuyaBusiness and Small Business Expo will be: business speed dating sessions; an all-new Investors and operators club for high profile investors and business partners, networking functions; development Den workshops on business trends and strategy, management; financial and digital, business bootcamp workshops for early stage start-ups; full on Franchising Theatre workshops hosted by SA Franchise Warehouse; Techpreneur Pavilion for tech-based small business and entrepreneurs; Wealth Masterclasses; The Chat Room networking lounge and internet café
The Small Business Expo, and the #BuyaBusiness Expo offer one-stop franchise and business opportunities, business tools, information and networking for anyone considering starting their own business, and for those already in business and looking to expand. Entrance is free if you register online here or visit www.buyabusinessexpo.co.za.
Call for entries for Shark Tank SA
The organisers of Shark Tank SA are looking for entrepreneurs with the next ‘Big idea’ to come and pitch for investment on the first South African Season of “Shark Tank South Africa”.
Entrepreneurs who make it into the ‘Shark Tank’ will have three minutes to pitch their business to the sharks. During the pitch they will brief the sharks on how much money they are seeking, and how much of their company equity they are willing to hand over to the sharks. For example, a pitcher could ask for an investment of R100 000 in exchange for 10% of their company. There are no limits on the investment requests but, in order to succeed, pitchers must secure the full amount they ask for although the equity split can be negotiated. If the pitcher does not secure the full investment amount pitched for they go home with nothing.
Historically on the show the most successful deals are with people that have a physical product that they are already selling. For instance, they have designed a product but have not been able to sell it due to the high cost of manufacturing in bulk. If they could secure capital from a shark they would be able to bring the manufacturing price down and make more product at the same time, securing better penetration into the retail market and becoming more competitive.
Seedstars World heads to Mozambique
Seedstars World, the global seed-stage startup competition for emerging markets and fast-growing startup scenes, is returning to Mozambique on 15 July 2016, with the support of Standard Bank and local ambassador UX Information Technologies, an ICT4D reference in the country.
In line with its mission to place the spotlight on entrepreneurs from emerging markets, Seedstars World is travelling to 65 countries globally and 20 in Africa this year to identify the best seed-stage entrepreneurs and provide them with an opportunity to win up to USD 1.5 million and network with investors and mentors from around the world. Its previous participants have raised over USD 61M collectively, providing employment to more than 360 employees worldwide.
The companies selected to pitch at the Seedstars Maputo event need to be less than 2 years old, have raised less than USD 500,000 in funding and have built a minimum viable product, ideally with existing traction. The Seedstars World team is searching for one additional criterion – the startup’s regional and global scalability. With a strong network of international partners such as Inmarsat, INADEM, Standard Bank and Deloitte, Seedstars World is looking for smart startups that solve regional issues and develop profitable products for the global market, to support their regional businesses and growth.
“After kicking off last year’s Africa tour in Mozambique and finding a young but vibrant ecosystem, we can’t wait to come back and see the massive growth and development that has taken place in the country’s startup ecosystem since last year,” says Claudia Makadristo, Associate for Africa.
After a successful collaboration with Standard Bank in South Africa, where Seedstars World organized a country wide pitching competition, both parties will continue their collaboration in Mozambique.