Much is made of the role of tech incubators and accelerators in getting startups from idea to viable business. For South African entrepreneurs, this can often be a process steeped in frustration and disappointment rather than fame and fortune. Funding is often flagged as the biggest hurdle that these entrepreneurs face, but speak to venture capital (VC) firms and they say a lack of bankable ideas, not money, is the problem.

VCs, after all, have to secure a return on their investment and the local pool of money doesn’t allow them the freedom their counterparts in Silicon Valley enjoy.