Telkom FutureMakers has partnered with Aions Creative Technology to support South African startups.
Telkom FutureMakers, South African telecoms company Telkom‘s Enterprise and Supplier Development program, has announced a partnership with venture builder firm Aions Creative Technology. The collaboration aims to grow South African startups and came about after by a pitching process that saw Aions awarded ZAR58 million (USD 3.2 million) in funding. The partnership reflects Telkom FutureMakers’ commitment to developing and partnering with South African ICT SMMEs.
Telkom serves a large range of business and residential customers, and offers integrated voice, data, fixed, mobile, IT and data center solutions. Telkom FutureMakers is Telkom’s Enterprise and Supplier Development program. The program aims to develop and partner with South African ICT SMMEs.
Aions Creative Technology is a South African venture builder firm that provides seed funding and end-to-end support for startups. Their focus is on innovation, and they aim to transform startups into market-ready offerings that can scale rapidly and employ more people.
Investing in innovation
Mmathebe Zvobwo, Telkom Executive: Enterprise and Supplier Development, said, “What sets Aions apart from other entrants is that they provide both funding and end-to-end support for start-ups, which is in line with Telkom FutureMakers’ focus on innovation. Part of this focus includes the need for a suitable vehicle to achieve investments in innovation-based digital value propositions.”
Venture builders
Mitchan Adams, co-founder and CEO of Aions, stated, “As venture builders, we provide the seed funding the start-ups need, and then work closely with the founders to transform them into a market-ready offering that can scale rapidly and employ more people themselves. We believe this approach resonated strongly with Telkom’s goal of growing and building businesses, especially in disadvantaged areas.”
Supporting South African startups
Currently, Aions is mentoring three startups, including Level, Scooter, and Tubby’s Kitchen, the Telkom funding will see this number grow to at least ten over the next 12 months.
South Africa is considered one of the ‘Big Four’ in terms of startup investment in Africa, along with Nigeria, Kenya and Egypt. The Big Four accounted for 75% of the continent’s startup investment in 2022.
Notable South African startups include Curbon, Franc, Zoie, Parket and Floatpays.