JSE takes a closer look at 10 South African tech SMEs

For 10 South African technology companies, the next 16 weeks will be about answering a fairly basic question: can the business convince someone to put money into it? The Johannesburg Stock Exchange (JSE) and the Technology Innovation Agency (TIA) have selected the companies for a new programme that will help them prepare for investors and find commercial opportunities. The programme started on 30 September and covers businesses in healthcare, agriculture and fintech.

What the companies will get

These are not companies being handed funding by the JSE. Instead, they will spend the programme working on their investment pitches, preparing for investor discussions and making connections through the exchange's network. The companies were chosen based on what they have already built, how far they are in running their businesses and whether there is a commercial case for what they are selling.

That distinction matters. A company can have a good piece of technology and still struggle to raise money. Investors want to know how many customers it has, how much money it makes, what the funding will pay for and whether the business can grow beyond its current market. For a small company, putting all of that together can be difficult. The JSE's programme is intended to help with some of those gaps. Participants will work on investor presentations and get access to a market access day and sector-specific engagements. The JSE and TIA expect the companies to finish with pitch packs that can be taken to potential funders, as well as new market contacts.

There is also a possible route into the JSE's AltX market, although that is not automatic. Companies that meet the requirements could be considered for AltX screening. Being part of the programme does not mean any of the 10 businesses will be listed.

The gap between having an idea and making money

This is where TIA comes in. The agency backs technology and innovation, but getting a product out of a laboratory or development environment and into the hands of paying customers can be a much harder job. Patrick Krappie, TIA's executive for innovation enabling, said commercialisation and market access remain challenges in South Africa's innovation chain. The JSE believes it can help by bringing its investor and business networks into the process earlier.

Why the JSE is getting involved earlier

That is different from the traditional role of a stock exchange. Usually, a company starts thinking about the JSE after it has already grown to a reasonable size. It needs a track record, financial information, governance structures and a business that investors can understand. The new programme starts before that point. There are already technology companies on the JSE that have made the journey. Fintech company Optasia joined the Main Board in November 2025 at an implied market capitalisation of R23.5 billion. 4Sight, a technology group, moved from AltX to the Main Board in January 2025. The 10 SMEs taking part now are much smaller. They still have to prove their products, win customers and build revenues.

What this means for the 10 SMEs

For these companies, the useful part of the JSE programme may have little to do with the stock exchange itself in the short term. A meeting with the right investor, customer or business partner could be far more valuable. The JSE is testing whether getting involved at that stage can help more South African technology companies eventually become large enough to tap into formal capital markets.