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Cape Town has reported one of the biggest increases in the recruitment of workers in the start-up and technology fields across South Africa, according to the Cape Argus.
According to research by job search engine Adzuna, Cape Town has had a +28% increase in recruitment in the past six months, with more than half of the jobs based in Cape Town; Johannesburg accounted for 34% of jobs, Pretoria for 5%, and Durban for 3%.
Vuyisa Qabaka, Marketing Manager at Woodstock-based Bandwidth Barn, believes that the results are accurate. The reason for the city's success is: "We have a more mature ecosystem", said Mr Qabaka.
While there are gaps in areas such as access to capital, the city ranks top in idea generation, idea validation; as well as basic and general conceptualisation.
"That is why we stand head and shoulders above the rest," Mr Qabaka added.
The Bandwidth Barn provides space, resources, physical infrastructure, programmes, and fund networks and in so doing, fosters innovation. The Barn will be opening facilities in Nyanga and Khayelitsha next year.
Alan Winde, Minister of Finance, Economic Development and Tourism says the Barn concept is making a real impact on the success of start-ups. Bandwidth Barn has assisted 89 businesses in the past year.
Mr Winde, added that the province is fast becoming a hub for information and communication technology entrepreneurs. This sector employs 30,000 people and contributes ZAR 3 billion (USD 300 million) to the provincial GDP.
Between 2006 and 2010, the Bandwidth Barn tenants and more than 50 successful graduates added more than ZAR 800 million (USD 76 million) a year to the region's economy, and supported almost 2,500 direct and indirect jobs.
"Apart from addressing skills gaps and small business support, our focus is on creating a business-friendly environment where entrepreneurs can also live a good lifestyle. This includes ensuring that we have broadband speeds that are able to connect our entrepreneurs to the overseas market," Mr Winde concluded.