South Africa – 20 September 2013 – The path to successful commercialization is almost never straightforward or simple. If it was, we would all be wealthy entrepreneurs. The Step-Up Technology Innovation Competition gives individuals, groups and small businesses the opportunity to have their technology innovations evaluated and assisted with access to support programmes.
These include introductions to investors and venture capital funds; consideration for TIA innovation and business support funding and non-financial support; introduction to short or long term mentors relevant to your industry and business; exposure to the range of DTI and DST incentive programmes for emerging and growing businesses; and assistance with selection of and access to incubation facilities.
South Africans over 16 with technologically innovative ideas – be it the seed of a thought, design saved on a memory stick, collection of parts or something produced and ready for retail shelves – are reminded that entries into the Step-Up Technology Innovation Competition (www.step-up.org.za) close in just over a week on 30 September 2013.
Local innovation alive and kicking
Entries to date, says competition manager Martin Feinstein, are inspirational in that 58% are raw ideas, 23% ideas in development and 19% existing innovations – highlighting the fact that South African entrepreneurs are coming up with more new innovation ideas now than historically. As founding CEO of Enablis and former CEO of Proudly South African, Feinstein has vast experience in working with South African entrepreneurs.
“What makes the Step-Up approach different, is that we threw the nets wide open for local technology innovation concepts that have commercial application and growth potential, whether in idea form or in a start-up or trading business,” says Feinstein. “We’re not after fancy jargon, buzz words or super-optimistic projections. But time is running out, and we are thus calling on would-be innovators to finalise their online entries without delay.”
The business case for a well-prepared entry
Feinstein advises entrants to not leave their entry forms to the last few days, as adjudicators can spot the difference between a rush job and a well thought through entry. “Tell us in your own words what your technology innovation is, why you believe it’s different or better to what’s out there, and how it can be the basis for a solid business – that’s what it will take you to the top,” he says.
“We’re not looking for fancy jargon, buzz words or super-optimistic projections. We seek solid technology innovation concepts, whether in idea form or whether in a start-up or trading business, that have commercial application and growth potential.”
Announcement: the judging phase
If you are selected as a finalist after the first round of scoring, which will be based on the content of your entry form, you will be invited to make an “in person” presentation to the judging panel for your industry sector. This will be a one-hour presentation, during which you will be able to explain your idea or business in detail, with the emphasis on the commercial potential of your idea or innovation.
The judges will also be able to pose questions to you. The panel presentation will be conducted in a supportive and enabling environment, and you will be able to bring colleagues, prototypes, samples or any other supporting elements to assist you in explaining your proposal.
These panels will select the winners in each industry sector. The competition covers technology innovations in these six sectors: Health and biotechnology, chemical, mining and manufacturing, information and communication technologies, food and agriculture, and energy and the environment.
Step-Up rewards
Supported by the Technology Innovation Agency’s higher risk appetite and Sasol’s ChemCity incubator, Step-Up will evaluate entries through October for inclusion in an extensive range of financial and non-financial support programmes, granting finalists and winners with access to prestigious local and international networks, mentorship and funding.
Rewards include global introductions to business leaders through venerable international partnership group, The SABLE Accelerator (South African Business Link to Experts) and vibrant regional network-building and mentorship through enterprise development bodies Enablis and SAINe, while qualifying innovations involving software development gain entry into Microsoft’s Bizspark developer programme.
Winners, who will be announced during a gala event in December, each get 4-hour consultations with SABLE advisers, a 3-month engagement with experienced and reputable industry mentors and, in partnership with the SA Business and Technology Incubation Association (SABTIA), entrants may be referred for small business incubation.
ENDS
Connect with Step-Up on social media
Web site: www.step-up.org.za
Facebook: www.facebook.com/pages/Step-Up-Technology-Innovation-Competition/153632241485487
Twitter: @StepUpTech
More Info link:: http://www.step-up.org.za
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Author: Lani Botha from Independent Consultant. Originally distributed by MyPR.co.za.
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