U-Start, the international investment advisory firm with €3,8-billion under management, has formally launched its presence in Africa with a national pitch event held in Cape Town. Hosted on Thursday 6 March 2014, the winners were announced today, unveiling the continent’s top five tech and digital SMEs.
U-Start Conference Africa saw 17 finalists pitch to a specialist judging panel and international audience of family offices, high-net-worth individuals, VCs, Corporate Ventures and business leaders in the tech and digital arenas.
The five winners chosen as the best of African tech’ ventures were:
* Wi Group – specialists in point-of-sale integrated mobile transactions. The platform enables retailers to accept any mobile transaction application by integrating them onto one platform via wiCode, wiTag and QR Code. WiPlatform, is currently used by retailers, brands, agencies, banks, mobile communities and a host of other businesses.
* Over – an iPhone/iPad app that enables users to add well designed text and artwork to photos. Over can be integrated with all major social networks making it extremely easy for customers to share images.
* CapeRay Medical – attached to the University of Cape Town, Cape Ray Medical have designed a medical imaging product for breast cancer diagnosis. The scanner will improve the simplicity and effectiveness of breast scans.
* MellowCabs – a provider of green taxis for journeys of 1km to 3km between a train station and home or station and the office. Revenue is generated from fares and selling advertising on their vehicles.
* SteadiDrone – specialists in unmanned aerial multi-rotor systems. The 2014 SteadiDrone line of drones can be used for a wide range of applications and industries including the heavy lifting of goods and aerial filming, due to their ability to integrate GoPro camera equipment.
With platinum sponsors Barclays Africa, MyVigo and The Western Cape Department of Economic Development and Tourism, the conference followed the same format as the previous global pitch held in São Paulo.
The 17 finalists pitched their business models in successive three to four minute segments, after which, the judging panel chose the five successful candidates. Winners were selected on the premise of four principles: feasibility, sustainability, scalability and entrepreneurship.
The companies selected to pitch in Cape Town were tasked with impressing an audience of tech and digital heavyweights, predominantly from Europe.
The global judging panel included Gavin Ellis, head of Client Acquisition, Barclays South Africa; James Durrant, UK founder of Mambo; Marc Elias, CEO of Seed Engine, Catherine Townshend, head of Endeavor South Africa; Peter Van Der Zee of IDC Venture Capital; and Stefano Guidotti, CEO of U-Start – amongst other business leaders.
The audience and judging panel had one common objective: to invest in Africa’s break-through start-ups and early stage ventures of 2014.
The next steps will see the successful five flown to the flagship U-Start Conference, held in Milan on 13 to 14 May 2014. Here, all global winners from the Brazilian, African, Russian and Swiss events in 2014 will compete for final stage funding.
In addition to securing a place in the final, the winners will receive priority access to a pre-engaged network of global investors, prizes from tier one sponsors, a year’s free access to the U-Start platform and mentorship from industry leading experts. Furthermore, for the first time ever, U-Start will be running a three-day, intensive training program for each of the international winners.
“We have long appreciated the entrepreneurial spirit that exists within Africa. The continent’s profile as a tech’ hot-bed is steadily rising, hosting multiple innovation hubs and co-creation labs across the continent. What is lacking is exposure, awareness and globally led support. Three factors we championed through the Cape Town conference and global iterations of the initiative in 2014,” says Stefano Guidotti, CEO, U-Start.
“We are absolutely delighted with the success of U-Start Conference Africa. Every business that participated demonstrated pitches of the highest standard, testament to our belief that the entrepreneurial talent in South Africa is fast growing to be competitive with the likes of Silicon Valley,” says Zachariah George, COO, U-Start Africa.
“We’re excited to take all five of the African U-Start winners to Milan, not just to showcase their amazing product, but to provide them with the exposure needed to secure investment and grow on a global scale. The U-Start Conference Cape Town was developed after the success of U-Start’s flagship event in Milan, May 2013. The event, titled Bloom, attracted around 600 delegates, including international start-ups, family offices and investors.”