The Empire Partner Foundation (EPF) Tech Fund, in collaboration with the Department of Science, Technology and Innovation (DSTI), has launched an ambitious new venture-building programme to nurture 20 innovative tech startups across South Africa.
This pioneering initiative focuses on empowering young entrepreneurs committed to using technology — specifically artificial intelligence (AI) — to address some of the country’s most pressing socio-economic challenges.
The government has hailed the programme, which seeks to accelerate the growth of early-stage startups as a bold step towards strengthening the country’s entrepreneurial ecosystem.
The programme aims to foster sustainable ventures that can drive long-term impact across sectors such as education, healthcare, sustainability, and employment through equipping these startups with crucial resources, mentorship, and technical support.
EPF Tech Fund CEO, Joanna Govender, stressed that the initiative is more than just about supporting individual startups. She underlined that it represents a transformative effort to catalyse social equity and economic development.
“By equipping young entrepreneurs with critical resources, we’re helping them address some of South Africa’s biggest challenges head-on. This initiative isn’t just about fostering individual startup success; it’s about creating a legacy of innovation that will uplift communities and shape a sustainable, prosperous future for South Africa,” said Govender.
The selected startups will have the opportunity to benefit from a comprehensive support system that includes mentorship from industry leaders, business development expertise, and preparation for future funding rounds.
Govender underlined that the well-rounded approach ensures that participants are positioned to grow their businesses and for long-term success.
One of the programme’s key focus areas is economic empowerment. Special attention will be given to youth- and black-owned startups, which are often underrepresented in South Africa’s tech industry.
The government believes that prioritising these groups in this programme will contribute to job creation in underserved communities and reduce inequality.
Dr Konanani Rashamuse, chief director: Innovation Priorities and Instruments at the DSTI, emphasised the importance of this initiative in fostering innovation that can have a tangible, lasting impact on South African society.
“The DSTI believes that AI has the power to reshape the future of business and society, and South Africa’s youth are in an ideal position to lead this transformation. Through this programme, we are providing young South Africans with the tools they need to thrive in an ever-evolving digital economy,” he said.
The venture-building programme is designed to align closely with national priorities, including poverty alleviation, skills development, and improving living standards.
Additionally, it will encourage the development of tech solutions that address critical issues like healthcare access, renewable energy, and food security. Environmental sustainability is also a key pillar, with a focus on supporting innovations that contribute to carbon reduction and align with global climate goals.
According to the DSTI, the programme’s impact will be measured through several key metrics, including job creation, revenue growth, and community engagement.
Regular assessments will ensure transparency and accountability, providing stakeholders with clear insights into the programme’s progress and outcomes.