South Africans looking to turn their ideas into fully-fledged businesses can now use the Object Astra platform to make connections with people that can turn those ideas into a reality.
Now launched in SA, Object Astra is described as a “matchmaking tool for start-ups”.
The launch comes shortly after Andile Ngcaba, technology pioneer and founding partner and chairman of Convergence Partners Investments, touted broader support for local start-ups and SMMEs.
According to the company, Object Astra has been in development for several years, but its launch was accelerated by the COVID-19 pandemic.
On an economic front, the outbreak of the coronavirus has resulted in catastrophic outcomes across the globe, with millions of people unemployed and having to rely on government support for their financial needs.
In SA, government introduced the Temporary Employer/Employee Relief Scheme and R350 Social Relief of Distress grant, among others, aimed at alleviating the financial losses imposed by the pandemic.
As a result of the economic conditions brought on by the pandemic, Object Astra says many have considered starting their own businesses or finding other creative ways to supplement their income.
However, they cannot always connect with people they need to enable and encourage a business to really take off.
Object Astra, which has already been rolled out in the UK, aims to fill that gap, it states.
It uses algorithms and artificial intelligence to link people who have a business idea with those who have the skills they need, in exchange for equity in the business.
Christiaan Trahms, co-founder of Object Astra, says: “This is exactly what South Africa needs. Being a South African myself and growing up in a tiny town in Jeffreys Bay, I know the drive, power and sheer will our country has to build great things.
“South Africans want to be their own boss; they need it. Look at all the government schemes on offer. But the problem is there is no place for people to turn to make their ideas real; here we give you the help – Ubuntu.”
The platform was founded by two former JP Morgan technologists, and is now opening to new registrations in SA and rolling out its full launch.
The company says the site costs R15 a month to use, and people who sign up to the platform can create a profile, submit their ideas and skill, and wait for prospective collaboration opportunities to roll in.
Trahms adds: “We sped up the launch when it became clear that millions of South Africans out of work need to do something to supplement their incomes and change their lives in being their own boss.
“So many of these people will have great ideas for a business, but don’t know where to look for advice, or find the people with the skill sets they need.
“Object Astra fills this gap by matching people with an idea with those who can help them turn it into a reality.”
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