Google Launches Technology Incubator in South Africa

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(memeburn) — Google has chosen Cape Town as a pilot for a new technology incubator called Umbono which aims to bring together seed capital, Google mentorship, angel investors, local tech stars, entrepreneurs and business leaders.
If successful in Cape Town, Google may take the model to other parts of the globe. Google says it chose Cape Town because the city is in “the process of positioning itself as a hub for innovation and technology”.
The search engine expects that successful funders will move to Cape Town and work “onsite” to take advantage of the opportunity. The search monolith says the incubator is “in keeping with its ongoing commitment to foster innovation in Africa” and it will help selected startup teams transform their ideas into companies. Umbono is Zulu for “vision”, “sight” or “idea”.

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