Cape Town is one of the participating cities in the Living Labs Global Award 2011. Living Labs Global is a non-profit association based in Copenhagen (Denmark) with the objective to promote innovation in services and mobility in cities.
Cape Town is looking to establish a new type of Venture Capital Fund on the African continent that is geared towards indigenous entrepreneurs’ who use technology to create innovative solutions for Africa’s challenges.
By using new technologies and funding systems such as micro-credits, community finance, social networks and open data systems entirely new ways of connecting investors and entrepreneurs may be found. If successful, these entrepreneurs will become the employers of tomorrow, provide real solutions and give investors healthy returns. Africa is the world’s newest market and has in excess of 1 billion people.
Entrants are requested to submit a Showcase detailing their solution.
The eight winners of the Living Labs Global Award will be invited to pilot their solutions in these cities, proving the effectiveness of new solutions and offering a first step for innovative providers to enter new markets.