Exits?
As a US based business school student at Wharton, I had the privilege of spending a few months last year working at a VC in the Western Cape as an intern. I was amazed at the innovation and entrepreneurial spirit that you all possess, and have been following your efforts from afar. I've also become a bit of an evangelist for the Western Cape as an innovation hub back in the states. However, the question that seems to remain answered, and an issue we debate constantly here at Wharton, is the availability of viable exit strategies for South African born companies. I think there is money ready to be put to work, but investors seem to be waiting to see the development of an exit market. What is the Silicon Cape initiative doing to support that aspect of entrepreneurship and venture capital?
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Replies to This Discussion
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Permalink Reply by Justin Stanford on -
It's definitely a core topic, which is very much up in the air at the moment. There are no clear answers. We're seeing successful businesses that decide to remain based here, as well as those that relocate to the US.
So far though, other than Thawte, there aren't really many well publicised exits. I think the SA VC model has yet to evolve and it's happening right now as we speak...
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Permalink Reply by Francis Omokhape oghuma on -
interesting Question
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Permalink Reply by Marius van Niekerk on -
A lot of us are probably confused by the SARS (read IRS) hurdles and hoops. It's easy to bring money in to the country but difficult and time-consuming to send money out, set up external companies etc.
Well, not so easy... e.g. not being able to receive money into a South African bank account through paypal.
IMHO if the flow was opened up there would be a bigger flow each way, and as the economic leader of this great continent, my money :-) would be on a greater inflow.
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