Nick Allen - Afrikan Heroes

New Opportunities as Savant Build Programme Invites South African Based Hardware Startups

July 6, 2022

There is a new window of opportunity for South African hardware startups as they have been invited to apply for the Savant BUILD programme, a structured incubation programme that offers selected companies access to various forms of support.

A hardware technology incubator, Savant was established by Nick Allen in 2005, and provides commercial support to innovators and inventors who have developed science and engineering based technologies and products.

It launched a venture fund in 2019 after raising ZAR110 million (US$7.8 million) from the SA SME Fund, and has since invested in a number of companies, including Jonga and SmartBlade. Now, in partnership with multinational precious metals mining company Sibanye-Stillwater, it has developed a structured incubation programme that will prepare successful candidates for various funding opportunities offered by Savant Venture Fund and Sibanye-Stillwater iXS.

The Savant BUILD programme will run from September 5, 2022 until February 10, 2023. Selected startups will have access to a network of partners, as well as a one-on-one specialised mentoring experience. They will also have access to dedicated support, hands-on workshops, and an array of curated resources.

Savant will invest ZAR100,000 (US$6,000) in services, and in return receives the option to purchase five per cent equity in the company. Applications are open to August 14.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Hardware Funder Savant Makes Five Investments Worth $1.22m

August 17, 2021

The hardware tech incubator Savant has made five investments worth a total of $1.22 million over the last 12 months. A hardware technology incubator, Savant was established by Nick Allen in 2005, and provides commercial support to innovators and inventors who have developed science and engineering based technologies and products. It launched a venture fund in 2019 after raising ZAR110 million (US$7.8 million) from the SA SME Fund, and has since invested in a number of companies, including Jonga and SmartBlade.

In the last year, Savant has made five investments. In the second half of 2020, it backed Astrofica Technologies, which aims to build an African-owned and controlled satellite constellation that offers highly accurate, real-time earth observation data; Cognitive Systems, which has built an AI engine on which specific AI solutions can be built; and Vekta Innovations, which has developed a fitness and health management solution that is used in industrial and professional sports settings.

So far in 2021, Savant has invested in Inxor, an advertising technology provider that replaces the traditional price pole with an intelligent brand engagement solution; and Renewco, which builds, owns and operates small scale utility power generation and waste management capacity in the local market. It is also about to do a follow-on round into Vekta.

More than $1.22 million has been deployed into those five companies.

“Savant is happy to take the early stage investment risk that other investors won’t – filling a crucial gap in the ecosystem,” said Allen.

“One of Savant’s approaches is to invest small amounts of up to ZAR1.5 million at a very early stage in order to prepare companies for going to market and ensure they are investment ready. This ensures we have a consistent pipeline of investable deals that we can invest significantly more into. This helps us lower risk and build a broader portfolio. We love innovators that build hardware that makes a difference. In other words: real products that solve problems.”