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Young CT firm scoops entrepreneur award

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Wireless hotspot provider RedButton has scooped the first prize in the VeloCITI competition, having increased its turnover five-fold since joining the business acceleration programme. It wins R60 000.00 worth of business support. 

VeloCITI aims to grow young ICT entrepreneurs and companies who have great business ideas, but may lack the experience or support to grow the business from an idea into a profit making company. The annual programme is run by business accelerator Bandwidth Barn, on behalf of the Cape IT Initiative.
RedButton installs and supports wireless hotspots and currently supports 60 nationwide. The company has agreements with UCT, various hotels as well as
restaurants.
"VeloCITI has been an excellent boost for our business. We've learnt far more than just what we were exposed to in the workshops. Our internal systems are now able to accommodate our growth and our company strategy is a lot clearer," explains Kilian Hagemann, RedButton director, at the graduation ceremony last night.
Hagemann says the company was not expecting the phenomenal growth it enjoyed during the programme. "Our revenue increased five fold during the nine months of the course, and I attribute a large part of that to the practical application of what we learned."
South African small business is struggling currently and liquidations are at the highest levels in a decade.  Small business in particular is buckling under the cost of money and a shortage of skills.
"In this unfriendly environment it is imperative that we intervene with programmes such as VeloCITI, where young companies are given the practical support and nurturing that can mean the difference between success and failure," comments Odette Potter, general manager of Bandwidth Barn and coordinator of the project.
The runners up were: Freelancentral, Silulo Technologies and MLT Tech.
The selected companies will receive ongoing business support, including premises in CITI¹s business accelerator Bandwidth Barn in Cape Town¹s CBD, from which they will work.