Competition injects R5m into innovationGlobal Entrepreneurship Week, celebrated this year from 16 to 22 November, connects innovators across the world to more than 9-million potential collaborators, mentors, and even investors.
South Africa’s scientists, engineers and entrepreneurs are great innovators, yet few ideas make it from conceptualisation to implementation. The Innovation Hub’s annual competition, the Gauteng Accelerator Programme (GAP) Innovation competition aims to bridge this gap by providing seed funding and development support to entrepreneurs working on novel technologies which positively impact society and improve the efficiency of government service.
The GAP competition opened during lockdown in April this year and all those who entered stand a chance of winning their share of R3-million in prize money and R2-million in business support to help grow their business.
“We’ve seen an increased drive and passion for getting things done and supporting our nation during this difficult time,” says Advocate Pieter Holl, CEO of The Innovation Hub. “We want to help drive innovation and inject cashflow into the economy by supporting our nation of dreamers and implementors.”
The finalists for this year’s competition have been selected, represetning their fields in five key categories: Township Economy, Bioscience, ICT, Medical and Green.
The Gauteng Accelerator Township Economy (GATE) category is aimed at identifying and nurturing township-based innovations that will contribute to growth and development in township economies. Last year’s winner, Kutsala Publishing, creates indigenous content that African children can relate to, changing the narrative for African storytelling.
GAP Bioscience assists scientists and entrepreneurs in pursuing commercially viable opportunities for cutting edge bioscience technologies, and GAP ICT identifies researchers and entrepreneurs working on ICT-based solutions to our country’s biggest challenges.
GAP Medical focuses on identifying and nurturing health innovations that will contribute to the improvement of health service delivery in hospitals and GAP Green looks for emerging entrepreneurs developing green technology solutions. To manufacture affordable biodiesel and enable rural economic development and job creation, last year’s winners in the GAP Green category, Sanineat, grow low-cost drought resistant Moringa plants in Mpumalanga and Limpopo.
“These categories have been meticulously chosen to bring forward the best projects that South African entrepreneurs and scientists have to offer. They represent the unique challenges that need solutions in South Africa today,” explains Holl.
The Innovation Hub works in collaboration with various entities in the private sector, both locally and internationally, and with local and national government to give South African entrepreneurs the support they need on their entrepreneurial journey. The prizes and support for the programmes are made possible by the Technology Innovation Agency (TIA) and Emory University’s Goizueta Business School.
The finalists will be judged by a panel of national and international industry experts, entrepreneurs and field specialists in each category. The winners will receive assistance in the form of seed funding opportunities, business incubation support, tailored mentoring and personalised business support during the first year.
The winners of the 2020 GAP competition will be announced on 26 November during a virtual awards ceremony and will start their year-long incubation in January 2021.