Cape Town Tech Hubbrings Corporates And Innovators Together

Amid the bars and restaurants of Cape Towns vibey Kloof Street, a converted warehouse plays host to one of the citys most exciting business spots. Set over three brightly-lit, garishly-decorated floors, Innovation City Cape Town is an invitation-only community of startups, corporates, entrepreneurs and investors. A mix of closed- and open-plan offices, social areas and beanbag-cushioned presentation theatres, the workspace is designed to spark unique and surprising collaborations and erode the traditional barriers between the startup community and the titans of corporate South Africa.

Co-founder Kieno Kammies, a Capetonian businessman and well-known local radio personality, says the concept is designed to trigger unusual partnerships, unexpected meetings, new ways of thinking and introductions to venture capital VC funders. Over a two to three-year period I think weve built a brand thats quite well entrenched in the innovation sector. Weve had Harvard visiting us, MIT rocked up to see what were doing the first hub on the continent where we have corporations all the way through to VCs in the space.

From telecoms group MTN to financial giant Old Mutual and retailer Shoprite, some of the countrys biggest businesses have used Innovation City to forge new partnerships. That is where the magic lies taking people that offer great value but who need to collaborate in order to accelerate the work they are doing and connect them with other people connecting smaller businesses and scale-ups with access to markets. Connecting corporates to diversified partnerships which are nimble and enable them to work faster.

South Africas tech sector is one of the most vibrant on the continent and Cape Town sits at its heart. The citys lifestyle advantages have persuaded around 60 of the countrys startup community to set up shop in the Cape.

The national picture is encouraging. In 2023, 60 South African startups raised funding of 512m, an increase of around 55.4 on the previous year, according to Disrupt Africas African Tech Startups Funding Report .The funding accounted for 14.8 of Africas total for the year.