South African hardware startups 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.