SA start-up wins international competition

2014-05-20 14:30
iPhone 5. (Duncan Alfreds, News24)

iPhone 5. (Duncan Alfreds, News24)

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Cape Town - A South African start-up has won an award at an international conference in Italy.

According to a report on ITWeb, Over, a social photography iPhone application, was judged to be the best start-up at the U-Start Conference held in Milan.

The app is modelled on photography apps like Instagram and allows basic editing for images as well as sharing via social networks.

However, the market for third party image editors is at risk given that many modern smartphones have built-in imaging tools and some, like the Sony Xperia Z2, also have video editing tools that allow users to edit video on the device.

Investors have argued that apps should be focused on developing markets like SA, India, Brazil and China because the next wave of people accessing the internet will come from those markets.

"Emerging markets are much bigger in terms of connections than the US and Europe. It depends on what you define as global. I think it's a fail just looking at the US," Kresten Buch, managing director of 88mph told News24.

The incubator has a South African office in Cape Town and funds technology start-ups with up to $100 000 in exchange for an equity stake of at least 10%.
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