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Startup Knight 2014 is Back

Byte Orbit has launched it’s annual startup competition – Startup Knight – for the third time and the 2014 event is set to be bigger and better than ever with more prizes, more time to enter and a more structured entry process.

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Startup Knight aims to empower aspiring tech entrepreneurs and visionaries in South Africa.  The competition is divided into two phases, namely the Startup Phase and the Concept Phase.  The Startup phase requires that the entrants already have a working prototype or a product that is in the market.

The concept phase on the other hand requires that entrants have and innovative idea that has commercial viability or the ability to attract high volumes of users. The entrants for the concept phase are required to demonstrate research into the concept as well as offer a go to market plan and revenue model.

The theme for Startup Knight 2014 is “Technology That Enables”.  Byte Orbit elaborates on the Theme as concepts and start-ups that are focused on innovations that enable SMEs to operate more efficiently, more competitively or achieve scalability.  Think FreshBooks, DropBox, Salesforce, Linode, MailChimp, etc.

The grand prize for the Startup division consists of software development to the value of R150 000 as well as R100 000 in PR. This year Startup Knight is adding a runner up prize of R50, 000 in the Startup division that can go towards PR or software development.  As in previous years, Byte Orbit will take a negotiated minority equity stake in the winning Startup.

The grand prize for the concept division is R100,000 in cash. Startup Knight introduces two more prizes in this division – two runner up prizes of R35,000 and R25,000 respectively.  The winning entry will cede the rights to the concept, however Byte Orbit will endeavour to engage the winner in building and commercialising the concept.

The winners will also be given the opportunity to showcase their business at the Standard Bank Matchi Event in Johannesburg in December.  These winning businesses will join 23 other FinTech business at an exclusive showcase event to be held at Standard Bank Offices in Rosebank that will host top FinTech companies and sponsoring banks from around the world.

Entries will open on Monday 15 September 2014.  All entries need to be submitted by midnight on Sunday 26 October.  Participants can enter online at www.startupknight.co.za

Eight Startup finalists and eight Concept finalists will be selected and will be announced by Friday 31 October 2014. The finalists will be required to attend a mentorship day on 7 November at Byte Orbit Offices in Durbanville, Cape Town where they will have to pitch to well known entrepreneurs in the industry.

The finalists will be required to pitch to a judging panel on 8 November and the winners will be announced on the evening of 8 November at the Startup Knight cocktail event.

So if you have a great idea or a promising startup, get your entries in at StartupKnight.co.za and you could be the next Mark Zuckerberg, Elon Musk or Bill Gates.

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5 Ways SMMEs Can Best Use An Incubation Centre

Here are some tips on how entrepreneurs can make the most of these incubation centres.

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Incubation centres play a meaningful role – not only in South Africa but around the world – as they groom SMMEs and give them access to opportunities that will help them survive in a competitive marketplace. These centres help entrepreneurs modernise their businesses with world-class technology, while providing insights that can help turn ideas into products. Incubation centres offer infrastructure and support, knowledge-sharing and a unique environment that helps strengthen their businesses.

Earlier this month, Cisco South Africa launched its R10 million Edge Incubation Centre in Pretoria where 30 SMMEs per year will have the opportunity to make use of the platform and speed up their entry to market. The centre gives SMMEs access to complete business facilities including workspaces, video conferencing and collaboration platforms, boardroom and training facilities, and access to global Cisco experts who can help them develop business ideas in a digital world.

Here are some tips on how entrepreneurs can make the most of these incubation centres:

1. Collaboration

Gain insights from global experts using the latest Webex technology and collaborate with other SMMEs. Utilise the meeting spaces to drive commercial sales initiatives with the help of business support facilities.

2. Resources & Equipment

Make use of laboratories and tools like cloud-based facilities, smart interactive whiteboards for content sharing, video conferencing, and meeting rooms. Utilise the high-tech customer demo centre as a practice platform.

Related: The Definitive List Of South African Business Incubators For Start-Ups

3. Support

Take advantage of the enablement programmes as well as the ongoing training and development. Knowledge transfer will always help your business. Utilise the technical support and business insights to grow your business and make it competitive in the digital economy.

4. Connectivity

This is your main tool in a digital marketplace. Make use of the high-speed broadband facilities and develop your digital skills because you will need it.

5. Sales

Don’t forget to utilise the pre-sales support as this may give you the edge in the marketplace. Gain insights and experience and use it to your advantage.

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9 In 10 Workers Want A Festive Gift From Their Employer To Make Them Feel Valued

29% Would like to receive vouchers from their company.

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As the festive season approaches, digital print company instantprint have revealed what managers can be doing to show staff they are appreciated.

Over 9 in 10 workers (94%) want a gift from their employers to make them feel valued, appreciated and happy this Christmas.

The research, which surveyed 1,500 UK office workers, also revealed the most in demand gifts that employees would like to receive from their employers:

  • 29% would like a gift voucher
  • 8% would like an early finish
  • One in five (20%) would like a free bar at the company Christmas party
  • One in ten (10.3%) would like a physical gift
  • 7% would like a charitable donation to be made in their name.

Related: Why Innovative Employee Benefits Are Your Competitive Advantage

Different sections of the workforce had varying demands. IT professionals would prefer an early finish this festive period, with 35% in the IT department choosing this as their ideal Christmas gift.

Senior management seem to have a more selfless approach to the gifts they would like to receive. One in ten (11%) said they would like a charitable donation to be made in their name, compared to the average demand for this present of just 7%.

There was some difference between men and women too. Women are the ones really pressing for gift vouchers, with 33% saying they are the ideal present, compared to just 23% of men. Male employees seem to prefer a free bar, with 22% choosing this, compared to just 18% of women.

James Kinsella, CEO and Co-founder of instantprint, said about the research:

“Most organisation take part in the festive period, with decorations, Christmas parties and office Secret Santas.

“But this research highlights how important a small show of gratitude can be for your workforce. Something as simple as an early finish, free bar at a party or a Christmas gift voucher can make employees feel valued and appreciated. This in turn can help boost employee morale, loyalty and productivity in the workplace.”

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South African Students To Battle In Universities Business Challenge To Win Up To R50 000

Students will compete in a simulation that encourages business skills.

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Cognity Advisory’s Universities Business Challenge (UBC), sponsored by General Electric (GE), launched in July this year, has seen 500 students from 13 different universities across South Africa participate in a business simulation competition, that’s designed to develop their entrepreneurship skills. The challenge is now down to just 10 teams from five different universities (approximately 50 students), who will travel to Johannesburg to compete in the two-day final event on the 5 and 6th December 2018.

The ten teams competing in the final includes three teams from the North West University, two from Mangosuthu University of Technology, two from the Vaal University of Technology, two from the University of Limpopo and one from The University of KwaZulu Natal (UKZN). These teams will be competing for the chance to win up to R50,000.

Related: Call For Applications: Young Entrepreneurs Global Exposure Trips

The aim of the UBC, now in its second year in South Africa and 20th year globally, is to tackle South Africa’s high level of youth unemployment. Statistics South Africa (Stats SA) announced that South Africa’s official unemployment rate increased by 0.3 of a percentage point to 27.5% in the third quarter of 2018.

The competition simulates a business environment, with students given a problem to solve. The simulation is designed to foster skills such as analytical thinking, problem solving, commercial awareness and team-working. The challenge is designed to empower young people and equip them with the necessary skills to succeed in business.

Tope Toogun, development advisor and CEO of Cognity Advisory says, “Students are very prepared in terms of theory when they leave university, but not the practical skills they need to start and run a business. Seeing as SMEs make up 90 percent of formal businesses it’s really important that these students know how to build a business on their own or at the very least, in small teams.”

Toogun explains how the simulation encourages business skills, “The students competing in the challenge learn all about managing people, customer service, working in teams and how to create a start up without even realising they are being exposed to all these skills. These are the skills that will separate the members in the final. Students must work as a team and make instinctive decisions.”

Cognity Advisory is engaging students through social media competitions and newsletter updates. These competitions include spot prizes for students who post an image or video and receive the highest engagement on it.

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