The International Finance Corporation (IFC) and Solcon Capital have entered into a strategic partnership aimed at driving the deep tech sector in India and South Africa towards unprecedented levels of innovation.

This collaboration is a concerted effort to catalyze the digital economies of these dynamic markets.

This alliance is focused on identifying and investing in pioneering companies within domains such as 5G, artificial intelligence (AI), the Internet of Things (IoT), big data, and cybersecurity. It holds the promise of unlocking the transformative potential of these technologies.

The deep tech market is on an explosive growth trajectory. This is evidenced by the projected leap in the 5G infrastructure market from $20.19 billion in 2022 to a staggering $348.76 billion by 2030.

This partnership between IFC and Solcon Capital couldn’t come at a more opportune time. Sarvesh Suri, IFC’s Regional Industry Director, highlighted the strategic alignment between IFC’s expertise in emerging markets and Solcon Capital’s proficiency in deep tech investments.

This convergence, he believes, heralds a new era of innovation and cross-continental collaboration.

Andile Ngcaba, Chairman of Solcon Capital, envisions this partnership as a catalyst for nurturing deep tech companie. This will foster robust technological ecosystems, and ultimately, forge connected and efficient societies.

Ngcaba’s vision extends beyond mere financial investments. He sees this collaboration as a means to empower local talent, fuel innovation, and drive socio-economic development in both India and South Africa.

The collaborative efforts between IFC and Solcon Capital promise to redefine the deep tech landscape in these regions, providing a significant impetus to their digital economies.

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As a member of the World Bank Group, the IFC stands as the world’s largest global development institution for the private sector in emerging markets.

IFC’s multifaceted expertise encompasses supporting private sector growth, issuing bonds, investing in labeled bonds and loans. They develop fund structures, build financial industry capacity, offer risk-management products, and provide structured-finance products.

Through its extensive network and resources, IFC aims to leverage its deep understanding of emerging markets to facilitate sustainable and inclusive growth in the deep tech sector in India and South Africa.

Solcon Capital, on the other hand, is a global deep tech investment holding company. It is focused on identifying and investing in promising areas of innovation and development within the tech industry.

With a keen eye for disruptive technologies and a track record of successful investments, Solcon Capital is poised to play a pivotal role in driving forward the deep tech landscape in India and South Africa.

The strategic partnership between IFC and Solcon Capital aims to accelerate the development of deep tech companies in South Africa and India. It aims at facilitating cross-collaboration, leverage diverse talents and markets, and ultimately propel the digital economies in these burgeoning markets.

By pooling their resources, networks, and expertise, IFC and Solcon Capital seek to create an enabling environment for deep tech innovation and entrepreneurship to thrive.

Solcon Capital’s investments are expected to benefit from the exponential growth projected in sectors such as the IoT market, slated to expand from $544.38 billion in 2022 to $3,352.97 billion by 2030, and the 5G Deepstructure market, poised to skyrocket from $20.19 billion in 2022 to $348.76 billion by 2030.

Through targeted investments in high-potential startups and emerging technologies, Solcon Capital aims to drive innovation, create jobs, and stimulate economic growth in India and South Africa.