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MMI Holdings, through innovation unit Exponential Ventures, is the proud founding partner of digital technology hub Tshimologong Precinct

Published: Aug 31, 2016 8:00:00 AM South Africa Standard Time

Tshimologong aims to grow skills, create jobs, encourage the establishment of new businesses and promote the regeneration of Johannesburg’s inner-city area.

MMI Holdings, through its innovation unit Exponential Ventures, is proud to be a founding partner of the newest digital technology hub in Johannesburg, the Tshimologong Precinct.

Tshimologong, which means new beginnings in Sesotho, aims to grow skills, create jobs, encourage the establishment of new businesses and promote the regeneration of Johannesburg’s inner-city area.

Jonathan Stewart, Managing Partner for Africa Investments at Exponential Ventures says "Our investment in the Tshimologong Precinct forms a meaningful part of our innovation and enterprise development programmes where MMI is committed to partnering with and sometimes investing in upcoming businesses especially in the digital space."

The precinct also aims to provide a collaborative space where entrepreneurs can come together and get the resources required to nurture their businesses to reach the next level. In addition to making a monetary investment, MMI will provide mentorship and other forms of assistance from the business, where its expertise and networks can make a material difference in the lives of entrepreneurs, as they conceptualise, develop and scale their young businesses.

"Digital innovation is where future growth and employment will be created. As mooted at the World Economic Forum in January 2016, we are entering an era of automation, constant connectivity and an ever-increasing pace of change. The business world is already experiencing the disruptive powers of the Fourth Industrial Revolution through the sharing economy and the technologies and innovative business models that enable it. Similar trends and potentially disruptive business models are starting to emerge in the financial services industry as well, for example in the FinTech, InsureTech, EduTech and HealthTech startup worlds, where MMI clearly has a strategic interest," says Stewart.

"Furthermore, over and above our own strategic interests, we believe it is our responsibility to help create the space for these businesses to be born and nurtured and we are privileged to be able to partner with Professor Dwolatzky and our other founding partners to make this happen. This is a fitting space for the hub to be, given its central location in the heart of Braamfontein and its proximity to the University. We look forward to being a part of the space and working with the businesses that will emerge from here," concludes Stewart.


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