The Great Start-up Coup: How SA Can Outsmart the Global Economy
In a daring move, the UK-SA Tech Hub has injected millions of rand into the SA Start-up Act Movement, aiming to fast-track the signing of the Start-up Act into law. And the timing couldn’t be better, with the newly formed Government of National Unity (GNU) at the helm.
A Coalition for Change
The GNU has already secured significant funding, and with its powers of persuasion, the Start-up Act could become a reality sooner rather than later. The UK-SA Tech Hub is optimistic that this partnership will accelerate the passage of the Act, ensuring South Africa’s high-growth start-ups receive the policy support they need to thrive.
A Decade of Advocacy
Launched in 2014, the SA Start-up Act Movement has spent a decade fighting for change, identifying legislative hurdles that strangle small businesses’ growth. Their tireless efforts have borne fruit, with the introduction of the digital nomad visa opening doors for global tech talent.
The Digital Dawn
The movement believes the digital nomad visa is a game-changer, addressing the country’s chronic skills shortages and attracting highly skilled workers to SA’s shores. As the movement’s chairperson, Matsi Modise, pointed out, this influx of talent will not only fill skills gaps but also empower local workers with new skills and knowledge.
The Need for a Start-up Act
The SA Start-up Act Movement is now more convinced than ever that a dedicated Start-up Act is essential for creating a thriving SME ecosystem. The Act would provide legal protection for intellectual property, access to funding, streamlined bureaucratic processes, and tax incentives to encourage entrepreneurship.
Competing in the Digital Economy
As digital transformation reshapes industries and creates new opportunities, the SA Start-up Act Movement recognizes that a Start-up Act is crucial for SA to remain competitive in the global digital economy. The movement is confident that with the UK-SA Tech Hub’s support, they can bring about meaningful change and turn SA into a hub of innovation and entrepreneurship.
Will the SA Start-up Act become a reality? Only time will tell, but with the UK-SA Tech Hub’s backing and the GNU’s newfound powers, the prospects look brighter than ever.
