R3m up for grabs for innovators and entrepreneurs

accreditation
0:00
play article
Subscribers can listen to this article
A businessman examining prototype in office. Photo: Supplied
A businessman examining prototype in office. Photo: Supplied

BUSINESS


Entries to the 2022 Gauteng Accelerator Programme (GAP) Innovation Competition have officially opened, with a total of R3 million in seed funding up for grabs for aspiring innovators and entrepreneurs to launch new businesses.

As The Innovation Hub’s flagship annual programme, the GAP Innovation Competition aims to support the next generation of South African start-ups in categories such as ICT, medicine, biosciences, the green economy and the township economy.

Successful applicants will have the opportunity to participate in training designed to help them develop critical business skills and will also be matched with appropriate mentors to provide them with guidance on their business strategies.

At the end of this programme, a panel of judges will then select winners from each of the competition’s five categories.

READ: On My Radar | Sponge cities and floating homes: The race for climate-proof housing

In addition to cash prizes and seed funding, these winners will receive incubation support at The Innovation Hub, intellectual property advice and access to a network of industry and governmental partners.

Since its launch in 2011, the competition boasts success stories such as Paseka Litabe’s Autumn Green, which offers an innovative system that can automatically switch off non-essential equipment and appliances when the national electricity grid is under strain.

Another is George Bennie’s Liaison Health Careware Suite, which uses online blockchain technology to simplify the process of large-scale health data analysis.

Advocate Pieter Holl, CEO of The Innovation Hub, says the competition aims to build a better future by supporting novel ideas and products with the potential to completely transform industries and meet the evolving needs of society.

READ: Central University of Technology faces maladministration probe

“South Africans are brimming with many wonderful ideas, but often lack the knowledge and support needed to transform these ideas into minimum viable products, successfully pitch to funders and executives, and scale their businesses.

“Through this competition, we look to plug into this gap, while embracing diversity and driving sustainable economic development.”

Competition categories

There are five main categories for applicants seeking to enter the GAP competition:

GAP Green: Addresses some of South Africa’s most pressing environmental issues such as energy security, water management, waste and sanitation, sustainable mobility and food security. The winner of this category will be incubated at the Climate Innovation Centre South Africa business incubation programme.

GAP Biosciences: Allows scientists and entrepreneurs in the biosciences space to develop and showcase technologies with a focus on agro-processing and health. This category is managed in collaboration with the Technology Innovation Agency and the Emory University’s Goizueta Business School in Atlanta, Georgia.

GAP ICT: Focuses on the development of ICT-based solutions, from internet of things (IoT) technology and artificial intelligence to educational mobile applications. The winners of this category will be incubated at Maxum business incubator.

GAP Medical: Seeks to identify and develop innovations for improving health service delivery within hospitals, specifically focusing on medical technologies and hospital processes. This category is also run in collaboration with the Technology Innovation Agency and Emory University.

Gauteng Accelerator Township Economy (GATE): Nurtures innovations that can contribute to the growth and development of township economies. This category seeks to improve government service delivery and promote the overall economy of the province and country in line with Gauteng’s Township Economy Revitalisation Strategy.

How to enter

Competition hopefuls must first join The Innovation Hub’s free sub-programme, the Business Basics Workshop, to prepare for the application process. Applications can be made online at The Innovation Hub’s website. The workshop will be held virtually for two days starting on June 22.

This workshop will cover essential topics for successfully preparing applications, as well as more information on the GAP competition.

Applicants have until July 15 to submit their online applications to the GAP competition.

The Innovation Hub will then select successful entrants for participation in the programme, and the winners will be announced in November 2022.


facebook
twitter
linkedin
instagram

Delivering the 

news you need

+27 11 713 9001
news@citypress.co.za
www.citypress.co.za
69 Kingsway Rd, Auckland Park
We live in a world where facts and fiction get blurred
In times of uncertainty you need journalism you can trust. For 14 free days, you can have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed. 
Subscribe to News24

E-Editions

Read the digital editions of City Press here.
Read now
Voting Booth
Two years after André de Ruyter joined Eskom, South Africa is experiencing its worst bout of load shedding. Is he to blame?
Please select an option Oops! Something went wrong, please try again later.
Results
No, he got in late
77% - 49 votes
Yes
6% - 4 votes
Fire the whole lot
17% - 11 votes
Vote