Sony Pixel Power calrec Sony

SA investors need to invest in local entrepreneurs: the Triggerfish story

04/03/2014

SiMODiSA forum set-up for South Africa's entrepreneurs and investors to help promote the conditions necessary for entrepreneurial activity to flourish, something South Africa desperately needs. Malik Fal from the Omidyar Network opened up with some powerful numbers: By Jean-Michel Koenig

There are 50 million South Africans of which 15 million are economically active. Of these, 10 million are employed with only 5 million earning sufficient income to be registered taxpayers. This is a ticking time bomb, as he said.

Ultimately, this trajectory will not lead to a stable and prosperous society unless something dramatically changes. While small pockets of VC funding exists, our local VC industry is still in its infancy and there is not nearly enough capital available for them to invest in the promising businesses they see, particularly for funding rounds greater than R20-million.

At Triggerfish, we were fortunate to raise development funding from the Business Partners Venture Fund who stepped up to the plate after we approached over 130 investors in the last two years. Their funding gives us the resources we need to continue with our development work so that we don't lose momentum.

Triggerfish is already a significant scalable global business, with multi-million dollar revenues, producing a world-class product into a multi-trillion dollar industry undergoing rapid change. We have distributors around the world and there is simply no company better placed than us to change the way the world sees Africa - tens of millions of people in over 70 countries will see our movies.

khumba_triggerfish

Despite all of this, it was still incredibly difficult for us to raise money. One significant corporate investor turned us down because they couldn't accurately calculate their Return On Investment (ROI). This is impossible to calculate for a high-risk, growth investment. Instead the focus should be on whether or not the opportunity is real and the management team competent.

I believe the funding problem exists across the entire SME sector from the township fruit-vendor to middle-class kids working on the next big thing from their bedroom. Apartheid effectively put a bubble on South Africa's economy and even though it's ended, the bubble remains. The political and economic environment is not conducive to the growth of SMEs. At Triggerfish we have bumped up against every hurdle from constrictive IP regulations to exchange controls and funding. We know how hard it is.

Besides the difficult regulatory environment, the shortage of risk capital is probably the biggest challenge we face. We cannot expect to build the economy we need unless we start to believe in ourselves and invest in our own entrepreneurs. If people are unable to feed their families or find decent work, social unrest quickly follows. There has to be the hope that people can do something for themselves. Small business will be key to South Africa's future.

Koos Bekker is stepping down from Naspers after finding incredible success with Chinese entrepreneur, Pony Ma, who founded Tencent. News24 reports that he hopes to travel to places like Seoul and San Francisco where the future is being manufactured, and see if there are new technologies we should be trying out. I would love to invite Mr Bekker to come visit us at Triggerfish to see how we are manufacturing the future not 20 minutes from the headquarters of Naspers.

If we're not prepared to invest in local entrepreneurs, our future will look more like the riots in Venezuela or the Ukraine. South African corporates and investors need to enable funding to SMEs to kick-start growth. They need to boldly lift their appetite for risk.

At Triggerfish we are putting in place a plan to raise further funding from overseas. The risk capital we need is not available here and we cannot wait any longer. Great businesses are not started off the back of great spreadsheets. On paper it will never make sense. Like climbing Everest, it is a bloody-minded act of the will that starts with the heart and we need to find investors, with the resources and risk appetite, who understand this.

http://ventureburn.com
LINK: http://www.filmcontact.com/africa/south-africa/sa-investors-need-inves...
See more stories from filmcontact

Most recent headlines

10/12/2025

Sound-Alike Commercials Are Part of Sports' Soundtrack

Sound-Alike Commercials Are Part of Sports' Soundtrack Johnny Cash for Coca-Cola is the latest in a long litany of sonic approximationsBy Dan Daley, Audio ...

10/12/2025

Immersive Sound Is Logical Next Step for Sports Venues

Immersive Sound Is Logical Next Step for Sports VenuesSound-systems suppliers are sanguine, but the market has its challengesBy Dan Daley, Audio Editor Wednes...

10/12/2025

The Romans Built Arenas for Immersive Sound 2,000 Years Ago

The Romans Built Arenas for Immersive Sound 2,000 Years AgoThe historic Arena of Nimes in France is still in use todayBy Dan Daley, Audio Editor Wednesday, De...

10/12/2025

SVG Summit 2025 Preview: Audio Workshop Hits on Immersive, Virtualized, and Next-Gen Streaming Workflows

SVG Summit 2025 Preview: Audio Workshop Hits on Immersive, Virtualized, and Next...

10/12/2025

SVG Summit 2025 Technology Exhibits Preview: Audio Spotlight

SVG Summit 2025 Technology Exhibits Preview: Audio SpotlightBy SVG Staff Wednesday, December 10, 2025 - 8:21 am Print This Story | Subscribe Story Highlig...

10/12/2025

SVG Europe Audio: Listening to the Sounds of Powder and Ice at Milano Cortina with a Behind the Scenes Tour of OBS and NBC's Audio Set Ups

SVG Europe Audio: Listening to the sounds of powder and ice at Milano Cortina wi...

10/12/2025

Advancements in Audio Technology: Capturing the Atmosphere of Live Sports

Advancements in audio technology: Capturing the atmosphere of live sports By David Davies Tuesday, November 25, 2025 - 09:27 Print This Story Although wor...

10/12/2025

Everything Smelled of Popcorn: The Art of Bringing the Complex Sound of Esports to Fans With Sound Supervisor Matt Gilbert

Everything smelled of popcorn: The art of bringing the complex sound of esports ...

10/12/2025

2026 Sundance Film Festival Unveils 97 Projects Selected for the Feature Film and Episodic Program

Top L-R: Ha-Chan, Shake Your Booty!, Hanging by a Wire, Broken English, Buddy C...

10/12/2025

You're in Control: Spotify Lets You Steer the Algorithm

For the first time, Spotify is giving users the power to steer the algorithm. Gustav S derstr m, Spotify's Co-President, CPO, and CTO, shares the vision beh...

10/12/2025

L3Harris to Produce Additional Solid Rocket Motors for Precision-Guided Artillery System

L3Harris' new contract for Guided Multiple Launch Rocket System Insensitive ...

10/12/2025

US Space Force Expands Offensive Space Programs Through L3Harris Foreign Sales

L3Harris Meadowlands system has been designed with an open architecture software system that allows for more flexible and efficient software updates. This capab...

10/12/2025

Football Shifts TV Viewing Towards Ad Supported, Nielsen's Q3 2025 Ad Supported Gauge Finds

During this interval, streaming comprised the majority of ad supported TV (46.4%...

10/12/2025

Bitcentral Names Venture Capital Exec Rick Arnold to Board

NEWPORT BEACH, Calif. Bitcentral, a provider of production, asset management, playout and streaming workflow solutions, has named technology veteran Rick Arnold...

10/12/2025

TV Tech Announces Winners of 2025 Best in Market Awards for M&E Tech

TV Tech is delighted to reveal the winners of the 2025 Media & Entertainment: Best in Market Awards....

10/12/2025

AIMS, VSF, AMWA, EBU To Hold Inaugural IPMX Testing, Certification Event

BOTHELL, Wash. The Alliance for IP Media Solutions (AIMS), the Video Services Forum (VSF), the Advanced Media Workflow Association (AMWA) and the European Broad...

10/12/2025

DirecTV Launches Peacock Games

In a notable example of how pay TV operators are integrating streaming services into their lineup and using those services to retain or attract subscribers, Dir...

10/12/2025

Chaos Brings Real-Time Rendering to Maya and Houdini

Today, Chaos builds instant feedback into the viewport, connecting Maya and Houdini to Chaos Vantage's real-time path tracer. Artists can now assess 3D asse...

10/12/2025

Smeup doubles capacity with Cubbit under a new agreement...

Smeup, a key partner for companies engaged in digital transformation, today announced the expansion of its adoption of Cubbit, the first geo-distributed cloud s...

10/12/2025

Mediagenix Strengthens Its Security Posture with ISO 2700...

Mediagenix, a global leader in smart content solutions to profitably connect the right content to the right audience, today announced two significant milestones...

10/12/2025

HDR10+ Technologies Unveils HDR10+ ADVANCED Dynamic Metadata Technology

BEAVERTON, Ore. HDR10+ Technologies, LLC has announced that they will soon begin the licensing and certification of devices, content, and services that support ...

10/12/2025

SMPTE, EBU, ETC Publish Report on AI's Impact on the Media

SMPTE has joined forces with the European Broadcasting Union (EBU) and Entertainment Technology Center (ETC) to publish an updated report on AI and its impact o...

10/12/2025

Clear-Com Appoints Kris Koch as New Director of Sales - N...

Clear-Com is pleased to announce the appointment of Kris Koch as Director of Sales - North & South America. In this expanded leadership role, Kris will oversee...

10/12/2025

Mavis Camera Launches Film Kit Unlocking LUT Workflows an...

Mavis today announced the latest version of Mavis Camera (v7.4), a major update to its professional iOS camera app, headlined by the launch of Film Kit - an opt...

10/12/2025

Creamsource Taps Industry Heavyweight Markus Zeiler as Gr...

Creamsource, renowned for its Vortex series of cinematic lighting, is laying the groundwork for its next phase of growth with the addition of Markus Zeiler as G...

10/12/2025

Digital Alert Systems Introduces DAS3-DC-PS DASDEC-III DC...

Digital Alert Systems, a global leader in emergency communications solutions for media providers, today announced that the DAS3-DC-PS, a new DC power supply opt...

10/12/2025

Riedel and Racing Electronics Announce Strategic Partners...

Riedel Communications today announced it has formed a strategic partnership with Racing Electronics, a premier provider of motorsport communication equipment in...

10/12/2025

GALSNGEAR Announces 2026 Leadership Retreats on East and...

#GALSNGEAR is launching two signature leadership retreats in early 2026, designed to equip women in media, entertainment, and technology with the tools to lead...

10/12/2025

CVP Launches Global Price Guarantee for Seamless Internat...

Providing worldwide customers with total confidence through transparent, all-inclusive pricing CVP, one of Europe's leading suppliers of professional video...

10/12/2025

Securing the Future of Broadcast TV in the U.S.

With the Federal Communications Commission working on new rules for the deployment of NextGen TV, next year promises to be an important one for both the future ...

10/12/2025

Former Charter CEO Tom Rutledge to Receive Cable Centers Bresnan Award

DENVER Tom Rutledge, director emeritus and former president and CEO of Charter Communications, will be honored with the 2026 Bresnan Ethics in Business Award by...

10/12/2025

Cadent Acquires YouTube Measurement Firm VuePlanner

NEW YORK Novocap's Cadent has acquired VuePlanner, a YouTube video ad planning, optimization, and measurement company in a deal that will help Cadent expand...

10/12/2025

Avoid Playlist Conflicts: Scheduling Back-to-Back Special Playlists

In preparation for the madness of March, here are some important reminders for scheduling back-to-back Special Playlists. The first Special Playlist MUST end b...

10/12/2025

VEON's Rising Capital Markets Profile Strengthened by Inclusion in Key Global Indices

10 Dec 2025 VEON's Rising Capital Markets Profile Strengthened by Inclusion...

10/12/2025

VEON Recognized for JazzCash, Kyivstar and Jazz at the World Communication Awards 2025

10 Dec 2025 VEON Recognized for JazzCash, Kyivstar and Jazz at the World Commun...

10/12/2025

Tribeca Films to Release the Independent Documentary Film Beam Me Up, Sulu by Timour Gregory and Sasha Schneider

December 10th, 2025 TRIBECA FILMS TO RELEASE THE INDEPENDENT DOCUMENTARY FILM...

10/12/2025

Sky extends partnership with the Ladies European Tour for a landmark 30th year

Wednesday 10 December 2025 Sky extends partnership with the Ladies European Tour for a landmark 30th year Sky and the Ladies European Tour (LET) have announce...

10/12/2025

Walk-on if you love the darts: James Maddison, Luke Littler and Big John star as Club 180 opens before 2026 PDC World Darts Championship

Wednesday 10 December 2025 Walk-on if you love the darts: James Maddison, Luke ...

10/12/2025

Rohde & Schwarz presents world's first RF power sensor with 0.80 mm RF connector for gapless DC to 150 GHz coverage

Rohde & Schwarz presents world's first RF power sensor with 0.80 mm RF conne...

10/12/2025

2026 Starts With a Swoon: Kim Seon-ho and Go Youn-jung Lead Can This Love Be Translated?', Premiering January 16

Back to All News 2026 Starts With a Swoon: Kim Seon-ho and Go Youn-jung Lead C...

10/12/2025

'Berlin and the Lady with an Ermine' Arrives to Netflix on May 15

Back to All News Berlin and the Lady with an Ermine Arrives to Netflix on May 15 Entertainment 10 December 2025 GlobalSpain Link copied to clipboard THE N...

10/12/2025

From stand-up to Foxtrot: Comedian Michael Fry revealed as fourth contestant for Dancing with the Stars 2026

It's out of the frying pan and into the sequins for comedian and actor Micha...

10/12/2025

Documentary film on the extraordinary life of Patrick Lydon, pioneer of social inclusion and disability, to premiere on RT

Born That Way airs Thursday 18 December on RT One and RT Player Born That ...

09/12/2025

2025 Sports Broadcasting Hall of Fame: Pam Oliver, Sideline Icon Who Redefined the Role

2025 Sports Broadcasting Hall of Fame: Pam Oliver, Sideline Icon Who Redefined t...

09/12/2025

SVG Summit 2025 Technology Exhibits Preview, Part 2

SVG Summit 2025 Technology Exhibits Preview, Part 2By Jason Dachman, Editorial Director, U.S. Tuesday, December 9, 2025 - 7:17 am Print This Story | Subscr...

09/12/2025

SVG Summit 2025 Preview: Cloud Production Workshop Spotlights Live and Non-Live Workflows in the Cloud

SVG Summit 2025 Preview: Cloud Production Workshop Spotlights Live and Non-Live ...

09/12/2025

Next-Generation Content Protection: Multi-Technology Security is Integral to Combating New Threats

Next-generation content protection: Multi-technology security is integral to com...

09/12/2025

CBS Sports Provides One-of-a-Kind Production' for UEFA Champions League Crossover Event

CBS Sports Provides One-of-a-Kind Production' for UEFA Champions League Cro...

09/12/2025

Spanish Professional Basketball League Relies on NETGEAR AV, MAM Tech for Seamless Production

Spanish Professional Basketball League Relies on NETGEAR AV, MAM Tech for Seamle...