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South Africa "accelerates" in Silicon Valley

tia acceleration

 

The Portuguese company LBC has been granted the project by TIA - Technology Innovation Agency of South Africa for a start-up design and implementation in Silicon Valley.

With 11 years of experience completed last November, the Technology Innovation Agency (TIA) has a very clear purpose: to be the leading innovation agency to stimulates and support technological innovation to improve the quality of life for all South Africans in order to obtain socio-economic benefits to South Africa and increasing their global competitiveness and opportunities.

 

Silicon Valley, the entrepreneurship world in a valley

With more than 50 years of history, Silicon Valley is the most efficient economic ecosystem in the world, being a worldwide reference in innovation and entrepreneurship. Here, the venture capital is available in greater quantity and quality, plus a huge concentration of many ideas and talents. According to TIA, it’s crucial to introduce South Africa into this circuit, strengthening their entrepreneurial ecosystem and accelerating the introduction of technological innovations in Africa.

The strategic role and motivation

A South African incubator in Silicon Valley can become a key project for TIA as it addresses all of it’s strategic roles present in what they established as their mission.On the one hand while this project connects TIA to the world's leading technology center, on the other hand it promotes links between South Africa and countries with the most advanced innovative ecosystems, the latest technology developments, competitiveness improvement, and the promotion of job creation. To summarize, we can consider six main ideas to be the focus of this decision:

  1. Open up new opportunities for South African entrepreneurs and innovators by opening up access to the top innovation and entrepreneur ecosystem in the world;
  2. Assist selected and promising start-ups to further develop their business ideas and models, access new knowledge and new sources of funding and also new partners;
  3. In this way, promoting the incorporation of innovation into the South African economy, increasing its competitiveness and export potential and creating new jobs;
  4. Leverage TIA’s role relating to technological innovation and start-ups in SA, reinforcing all strategic roles: Connector, Active funder, Facilitator, Service provider, Thought leader;
  5. Reinforce the TIA’s brand, by associating it with a top brand;
  6. Bring back new ideas and methods for promotion of technological innovation and entrepreneurship – sharing and application of knowledge.

This project involves the design of the acceleration program, it’s assembly and management for one year. A working visit to Silicon Valley by representatives of TIA and the South African Ministry of Finance took place from 4th to 8th February. The concept designed by LBC was submmited to TIA management in February and the start of the acceleration program must occur before the summer.

For Senisha Moonsamy, Director of TIA in charge of this project, LBC offers guarantees given the quality of work they has been developing on projects in South Africa, their 10-year experience of supporting for start-ups and immersion programs in Silicon Valley, as well as the vast network of partners, entities and experts with whom the company has been working in Silicon Valley. 

LBC has more than 1000 projects in 12 countries in the field of management and digital transformation consulting, having been present in San Francisco since 2008, dedicated to the supporting start-ups, business innovation and immersion programs in Silicon Valley.   

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