Gauteng home to most tech startups, but Cape firms still more successful – survey

• Gauteng is now home to 55% of tech startup founders — ahead of the Western Cape’s 37%.
• In all, 36% of Western Cape startups report turning a profit or generating significant revenue, compared to 22% in Gauteng.
• The percentage of black tech startups has risen from 26% in 2015, to 56% this year.
• Just seven percent of black tech startups turn a profit, versus 15% of their white counterparts.
• Over a quarter of startups plan to raise angel or VC funding, but only eight percent receive such funding.
• Successful startup founders are most likely to be white males from the Western Cape.

The Western Cape may long have been held as the most popular region in South Africa in which to run a tech startup, but it seems this is no more. Gauteng has emerged as the most popular province to run a tech startup in the 2018 Ventureburn Tech Startup Survey powered by Telkom Futuremakers.

But going on this year’s findings and those from Ventureburn’s 2017 survey, Western Cape startups are still more successful — with a higher percentage reporting having turned a profit or generated significant revenue, than tech startups based in Gauteng.

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Source: Ventureburn