A new competition has been launched for individuals and small and medium sized businesses developing or pioneering innovative technology, to provide them with access to local and international networks, mentorship and funding to help them take their projects to the next level. Interested parties have until 30 September 2013 to pitch their ideas.
Sponsored by government’s Technology Innovation Agency (TIA) and Sasol’s ChemCity enterprise development vehicle, the Step-Up Technology Innovation Competition is open to innovations in the health and biotechnology, chemicals, mining and manufacturing, information and communication technologies, food and agriculture, energy and green environment sectors.
Any South African over the age of 16 can enter the competition online on www.step-up.org.za. The multi-faceted collaborative programme aims to address the most relevant networking, business, financing and knowledge requirements of each participant who reaches the finalist stage.
“This is the Idols for innovators. Step-Up has pulled together the collective energy and resources of government, venture capitalists and incubators to steer early-stage initiatives up the value chain into sustainable production,” says Martin Feinstein, former CEO of Proudly South African and Enablis, who will be running the initiative alongside the TIA and Sasol ChemCity.
Over and above the benefits associated with winning the competition, the TIA and Sasol ChemCity will evaluate entries for inclusion in their extensive range of financial and non-financial support programmes, whether it is an initial idea or an existing innovation business.
Finalists and winners stand to benefit from global introductions to business leaders through the SABLE Accelerator (South African Business Link to Experts), an international partnership group dedicated to helping South African entrepreneurs, new venture startups, academic institutions and companies commercialise technology innovations, promote and protect intellectual property, fund new business concepts, finance growth and expand into global markets.
Top achievers in the competition will be assessed for possible funding by venture capital and growth funding vehicles with a focus on alleviating the country’s socio-economic and environmental challenges. These include global and local heavyweights Hasso Plattner Ventures Africa, Impact Amplifier, Crowdinvest and Horizen Ventures.
With access to knowledge and networks also critical to grow innovation-based businesses, Step-Up finalists and winners will share in the vibrant regional network-building and mentorship capacity of enterprise development bodies such as Enablis and SAINe, while those whose innovations require software development can enter into Microsoft’s Bizspark developer programme.
All entrants will receive up to four hours of high-value consulting time with selected SABLE advisers, as well as a three-month engagement with experienced and reputable industry mentors. In addition, in partnership with the SA Business and Technology Incubation Association (SABTIA), entrants who would benefit from incubation will be referred to appropriate incubators.
For more information visit www.step-up.org.za
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