Mr Price Foundation Awards R1 Million to AI Startup Founder
Mr Price Foundation Awards R1 Million to AI Startup Founder. South African entrepreneur Kamogelo Selepe has been named the overall winner of the Mr Price Foundation’s Bindzu Youth Fund programme, securing the competition’s top prize of R1 million following a nationwide search for promising young business owners.
The competition attracted 1,692 applications from entrepreneurs across South Africa, highlighting growing interest in youth entrepreneurship and innovation. After a multi-stage selection process involving training, mentorship, business development support and funding opportunities, Selepe emerged as the programme’s top-performing entrepreneur.
Selepe is the founder of ArcaneEdge, an artificial intelligence-powered marketing technology company. The business has developed a platform that enables companies to simulate consumer behaviour and test marketing campaigns before committing advertising budgets.
According to the Mr Price Foundation, ArcaneEdge achieved the highest revenue growth among participating businesses during the assessment period, recording a 486% increase in revenue.
The Bindzu Youth Fund was established to support young entrepreneurs by providing access to funding, mentorship, business support and investment-readiness training. The programme aims to address common challenges faced by emerging business owners, including limited access to capital and business development resources.
Of the 1,692 applications received, 1,125 entrepreneurs were accepted into the programme. Participants then progressed through a structured development process that included entrepreneurship training, mentorship opportunities, business boot camps and practical support designed to help them strengthen and grow their ventures.
Following the development phase, 27 businesses received funding and additional support. The process culminated in a national pitch competition, where 10 finalists presented their businesses for evaluation.
The judging process considered factors including business performance, growth potential, commercial viability and broader economic impact.
The competition also recognised entrepreneurs operating in agriculture and manufacturing.
Western Cape entrepreneur Khaya Burwana secured second place and received a R250,000 prize for Agrikey Farming, a hydroponic farming business that supplies food products to retailers, communities and informal traders. The company reportedly used programme support to automate its irrigation systems.
Third place was awarded to Gauteng entrepreneur Makatu Tshivhula, founder of The Light Candles. The candle manufacturing business received R150,000 after expanding its production capacity and inventory through support received during the programme.
The three winning businesses represent diverse sectors of the economy, including artificial intelligence, agriculture and manufacturing.
The Mr Price Foundation said the Bindzu Youth Fund seeks to help young entrepreneurs build sustainable businesses capable of creating employment opportunities and contributing to economic growth while overcoming barriers that often limit the development of early-stage enterprises.
