Awards an incentive for tech start ups
Entrepreneurs usually end up funding their ventures from their own resources or borrowing from family and friends.
At the moment nobody really knows just how much money is available nor how much is actually needed.
So the organisers of the annual Technology Top 100 awards and its key sponsors, the science and technology department and Eskom, are conducting a survey to quantify how much money is available to nurture early stage science and technology ventures.
It will also identify who the active funders are, and define the challenges and opportunities in the market.
The survey is also supported by the AltX board of the JSE and by Fundman, a website that links fund seekers with providers.
The launch of the survey ties in with a call for entries for the Technology Top 100 awards.
The contest aims to reward organisations that use technology and innovation to make their operations more competitive and for the value their use of technology brings to the economy. “This celebration of excellence is also a celebration of truly South African innovation,” said Science and Technology Minister Mosibudi Mangena.
It is open to small and large enterprises, science councils and universities.
Organisations that develop new technologies or use existing technology in innovative ways can also enter, even if they are in nontechnology sectors such as the banking industry.
“Many past entrants have testified to the value of Top 100 status, enabling their businesses to win new contracts and sometimes even being the difference between being in business and not,” said Stephan Lamprecht, GM of the awards.
The reason the organisers are researching the availability of venture capital is because many companies that have previously entered the emerging company category have demonstrated outstanding innovation, but a lack of money has prevented their products from reaching the market or has prevented the business from growing at the rate it could.
The website — www.tt100.co.za — can be used to enter the awards or to complete the venture capital survey.
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