A South African mobile applications company took third prize at the 5th Global Forum on Innovation and Entrepreneurship, in East London, yesterday.
The forum, which is organised by the World Bank's infoDev, the Department of Science and Technology (DST) and the Eastern Cape Province, this year drew 50 companies from all over the world.
According to DST spokesperson Veronica Mohapeloa, companies enter the Dragon's Den Pitching competition at the forum, where they present an innovative technology developed by the organisation in front of a panel of judges. The jury - consisting of angel investors, top policy-makers and international donors - judge the pitches on the criteria of commercial potential, long-term success and impact on society.
Afroes, which walked away with $8 000 in prize money, creates African mobile applications and tools for social development agencies and corporate enterprises. The start-up company was founded by Anne Shongwe and is hosted by mLab, in Pretoria, at the Innovation Hub.
mLab Southern Africa CEO Derrick Kotze says: "We are very excited that Afroes has won such a coveted prize. It is important for African-based start-ups to get the opportunity to pitch in front of a global audience to win mind-share in the mobile innovation space."
Science and technology minister Derek Hanekom said Africa was embracing its role in advancing the global innovation agenda, at the same time empowering citizens, creating jobs and growing the economy. "African innovators, like Afroes, are increasingly receiving global recognition in important technology areas. Such success stories clearly illustrate the impact innovation can have."
He said the DST supports research, development and innovation activities, with the ultimate aim of contributing to a more competitive economy through the development of small enterprises, for example, and to an improved quality of life for people in the country and region.
Apart from Afroes, other South African companies that entered the competition include Kuza Mobile, Khaya Power and Mobiflock. They were among the Top 20 of the Top 50 companies.
Apart from the competition, the Global Forum is a platform to connect entrepreneurs with mentors, financiers and partners from around the globe, and to exchange ideas of how to create the right "ecosystem" for innovative firms.
The first to be held in Africa, the forum offered participants an opportunity to learn how innovations can boost job-led growth and tackle economic and social needs, while using the full power of information, communication and green technologies.
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