With an internet penetration of 63%, one of the largest open-access fiber networks in Africa, and a bustling community of investors, Cape Town is home to almost 60% of South Africa’s startups. The city also has the continent’s highest number of accelerators, with more than 20 programs and 25+ co-working spaces. Both the local and national government is dedicated to further growing the area’s ecosystem. The Digital Economy unit at the Department of Economic Development and Tourism collaborates with the Western Cape Government, City of Cape Town, Wesgro, and various ecosystem organizations such as CiTi, Silicon Cape, LaunchLab, and Startupbootcamp, to launch initiatives aimed at positioning Cape Town as Africa’s Tech Capital. The University of Cape Town, Stellenbosch University, CPUT, and the University of the Western Cape, in addition to six TVETs (Technical and Vocational Education and Training) in the region supply growing companies with a pipeline of talent. Cape Town is home to over 30 venture capital firms, including Naspers, one of the world's top tech investors, as well as an active community of angel investors. Naspers Foundry is a $100 million fund to support South African startups. The Technology Venture Capital (TVC) fund set up by the Department of Trade, Industry and Competition (DTIC) and managed by the International Development Corporation (IDC) provides support and seed capital for the commercialization of innovative ideas. Cape Town attracted $88 million in VC funding in 2020.