Telkom’s FutureMakers program works with Aions Creative Technology’s business builder service to help South African start-ups.
After a competitive pitching process, Telkom FutureMakers gave R58 million (about $3.8 million) to Aions. This shows that the program is committed to helping small, medium, and micro-sized businesses (SMMEs) in the ICT sector grow and work together.
Telkom FutureMakers started in 2015 and has already helped over 2,500 ICT companies with R250 million.
Telkom executive for business and supplier development Mmathebe Zvobwo said, “In line with Telkom FutureMakers’ focus on innovation, we fund and help start-ups in every way.” “Part of this focus is the need for a good way to get investments in digital value propositions based on innovation.”
The goal of the partnership with Aions is to keep Telkom FutureMakers’ promise to invest in small companies in the ICT sector, give them access to the market through their supply chains, work with businesses owned by young people and women, and promote inclusive innovation.
The Chief Executive officer of Aions and co-founder of Aions, Mitchan Adams, said, “As venture builders, we give start-ups the seed funding they need and then work closely with the founders to make them market-ready so they can proliferate and hire more people.” “We think that Telkom’s goal of growing and building businesses, especially in poor areas, fit well with this approach.”
Aions is currently mentoring three start-ups: Level, an online platform for financial wellness and salary-linked benefits; Scooter, a start-up that makes electric scooters; and Tubby’s Kitchen, which makes a variety of healthy kitchen goods with cannabis in them that can be used at home. Adams said that with the money from Telkom, this number would grow to at least 10 in the next year.
ICT is a well-known industry that can open up job opportunities, especially for young people. It creates a better and more prosperous future for all. Our collaboration with Aions Creative Technology was a natural fit because of how similar our goals are to theirs in expanding the digital economy. Both organizations are working to change the current economy to be more robust and sustainable.
The partnership between Telkom FutureMakers and Aions Creative Technology is expected to help the ICT sector in South Africa grow and give young people and people from poor areas a chance to get jobs.
Through this new relationship, local start-ups will get the help they need to prepare for the market and increase and create more jobs. With the help of Telkom FutureMakers and v, ICT SMMEs are on their way to becoming an essential part of the digital economy, leading to a better future for everyone.