update on projects being worked on in IS Labs and the gap between VC and new tech ideas in South Africa

The obvious questions were: Why doesn’t South Africa have more Internet entrepreneurs, and who can create the next online business that conquers the global economy?

IS Labs has identified Obami as its next incubation initiative as part of its goal to drive the development of more local Internet businesses and technologies.

Obami is a social networking site for southern African schools that helps parents, teachers and pupils keep up to date with everything that is happening at their school from a single place.

Technology start-ups will have to find alternative sources of funding as venture capital (VC) firms reduce spending. Jeff Fletcher, founder of IS Labs, says the prevailing mindset is costing start-ups. “Companies in SA want to reduce risk, they don't want to invest directly into start-ups. A cultural mind shift needs to happen – similar to that of Silicon Valley in the States. But a gap does exist in that we don't have the same amount of funds.”

Technology company Internet Solutions is putting its brains behind a new social website designed to let parents, teachers and pupils communicate online. The company’s recently formed spin-off, IS Labs, was created to seek out and develop ideas to boost internet use in SA. It is now backing Obami, a social site being developed for schools in southern Africa to help people keep up to date with school activities.

I’m an ideas man, I live with my heads in the clouds. The kind of guy who you’ll speak to with an earnest attempt at exchanging ideas and end up staring at me wondering why my eyes are twitching and I’m mumbling about the despicable despot between academia and the “masses”. I can listen I promise, but I like thinking a lot more.  read more »

IS Labs, the Internet Solutions initiative to drive more development of local Internet businesses and technologies, has been met with a positive response from both industry and individuals as a catalyst for Web innovation in South Africa.

Since its launch in July, IS Labs has seen a steady growth in the number of ideas submitted.

Entrepreneurs with ideas on how to improve the internet are being offered funding and mentoring by Internet Solutions in an effort to turn bright ideas into potential businesses.

IS Labs challenges users to submit ideas to make the South African Internet better

Internet Solutions has launched an initiative called IS Labs which it hopes will challenge subscribers to submit ideas to make the Internet better in South Africa.