Software giant Microsoft has signed up two more companies as part of its R475 million local equity equivalency programme.
The two new partners - iSolve Technologies and Mmapro IT Solutions - will join the four firms that are already being aided to grow through the plan.
Microsoft SA MD Mteto Nyati says the companies have the potential to be grown into global IT firms. “We can end up exporting technology. This is something unique; this needs to be supported.”
In March, the software giant announced the first four companies with which it is partnering as the initial step in its seven-year equity equivalency plan, which analysts previously hailed as “unique”.
Microsoft will provide funding and advice to help the companies grow internationally and become globally competitive, but will not take an equity stake in return. The first four firms were: BUI, Chillisoft, Home Grown and Maxxor.
The software company first stated its intention to invest R475 million in a handful of small empowerment companies in the sector last April. However, the plan was held up while Microsoft and the Department of Trade and Industry ironed out the details of the scheme.
Subsequently, in May, the company said it would expand the programme to add additional firms to the initial four.
Keen interest
iSolve Technologies CEO Jayesh Nana says the company wants to benefit from Microsoft's global reach and know-how. “We'd like to learn some of their tricks.”
Nana adds that iSolve has about 10 staff members and started operating in 1999. It has created a digital credential system and also plays in the e-commerce space.
Mmapro MD Mmabatho Nyaredi notes that the company, which started in 2005, wants to tap into Microsoft's global presence to benefit from research that will aid its innovation.
Nyaredi says the company is set to pilot a cross-border system that will alert authorities when drivers do not have the correct permits, and is also working on a solution that will eliminate paper-based traffic fines.
Parbhoo says the first four companies, announced in March, are doing well. He adds the companies have been setting targets and some have needed to be restructured.
Almost all of the initial partners have expanded their staff complement and at least 20 jobs have been created so far, notes Parbhoo.
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