Investment group and startup accelerator partner to support black-women owned startups

Entirely black-owned broad-based investment holding company, the Mineworkers Investment Company (MIC), and Cape Town-based specialist startup accelerator company Grindstone, have entered into a partnership to fund and accelerate four black women-owned startups. This support will be delivered through the latter’s specialised accelerator programme, GrindstoneX. “As an active equity partner, MIC is committed to identifying, supporting, and growing technology-driven, innovative, high-growth businesses owned by black women in South Africa,” affirmed MIC Chief Investment Officer Nchaupe Khaole. “Our collaboration with GrindstoneX is a step towards levelling the playing field, ensuring that smaller black female-owned enterprises receive the attention and resources they deserve. It is also an investment in the future, helping narrow the gender investment gap, increase diversity in funding, and, in doing so, contributing to the growth of the South African economy.”