Grindstone has unveiled its selection of 15 green technology start-ups for participation in its accelerator program. The collaborative effort between Cape Town-based accelerator Grindstone and the Anglo American Foundation (AAF) marks the initiation of the Grindstone South Africa program, with a specific aim to empower entrepreneurs in the green sector.
The chosen start-ups include VEZ Technology, Ground 2 Tap, I-N-TECH, Boombadotmobi, First Drop Hydration, Tsehla Holdings, GreenMovement, MKGreen Solutions, The Green Cab, Imperative Energy Group, Lily Loompa Upcycled Homeware, RE: HEAT Africa, Isphepho Group, PWK Waste Management and Recycling, and Umlilo Energy South Africa.
In a joint statement, the organizations express the program’s objective of assisting 15 technology and technology-enabled start-ups in the green sector by providing them access to secure funding and valuable market opportunities.
Maike von Heymann, Head of the AAF, emphasizes, “From solar power to waste management, to water filtration systems, this cohort of 15 start-ups are driving positive change in their communities across South Africa. At the Anglo American Foundation, we are proud to partner with Grindstone; together, we champion entrepreneurship that not only creates quality jobs, with a focus on youth, but also paves the way for a greener, more sustainable world.”
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The program is scheduled to span over six months, commencing this month, and is tailored for post-seed to Series A start-ups operating within the green sector. Grindstone highlights that the winning company will be rewarded with a cash incentive at the program’s conclusion.
Start-ups involved in the program will gain access to knowledge through plenary workgroups covering strategy, branding, marketing, sales, technology, legal and intellectual property, valuation, finance, mentoring hours, secure funding access, and valuable market opportunities for networking, social media, and environmental, social, and governance (ESG) assessments.
Furthermore, these companies will benefit from mentorship provided by Grindstone alumni and established ecosystem network partners, including Green Cape and Savant.
Earlier in the year, Grindstone collaborated with Naspers Labs to launch the GrindstoneX female entrepreneur program, which selected ten local female-founded start-ups for participation.
Recognizing the expanding technology landscape, Grindstone emphasizes the potential of the green economy to create meaningful job opportunities in South Africa while simultaneously supporting environmental sustainability.
Catherine Young, Managing Partner at Grindstone, acknowledges the rapid growth of the green sector and underscores the need for a corresponding surge in impact investing and a focus on youth job creation in the primary and secondary markets related to the green economy.
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Young states, “By supporting innovation in the green sector, including clean energy, decarbonization, sustainable food production, climate tech, and more, we can improve millions of lives, as well as drive sustainable economic growth and job creation in vulnerable communities. Our partnership with the Anglo American Foundation will help South African entrepreneurs at the forefront of building a more sustainable future. It ties in perfectly with our own ESG focus, which is strengthened through partnerships like this.”
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard