Six innovators selected for Industry 4.0 Challenge
The Department of Communications and Digital Technologies, in collaboration with Standard Bank, has selected six local tech start-ups to participate in the 2019 edition of the Industry 4.0 Challenge.
The challenge,now in its second edition, seeks to identify and develop technology entrepreneurs and start-ups that have built innovative solutions relevant to the fourth industrial revolution.
The competition, which opened earlier this year, provides access to customised support programmes and master classes through Standard Bank’s Enterprise Development and Incubator.
The “big six” start-ups selected from hundreds of applications include: artificial intelligence-powered financial literacy platform Akiba Digital; health-tech start-up Technovera which has developed Pelebox smart lockers; water filtration autonomous solution Kusini Water; e-learning start-up Smartipants Technologies; sport tech company 3DIMO; and independent software vendor Omnipresent Global.
The start-ups’ founders will be introduced to leading venture capitalist firms, private equity companies, industry experts and senior executives across multiple sectors on a global stage, through an all-expenses-paid international exhibition courtesy of the department and Standard Bank.
The entrepreneurs have travelled to Budapest, Hungary, where they are showcasing their products and services at ITU Telecom World currently under way.
“Beyond these business-changing initiatives, the six companies will be able to compete for the opportunity to be nominated in ITU Telecom World’s global SME award, host country SME award and also receive a ‘recognition of excellent certificate’ certifying they are the best displaying their wares at the national pavilion in which they are represented,” according to Standard Bank.
The bank says following this event, further development programmes, exposure trips, funding and access to market opportunities by Standard Bank Enterprise Development will be opened to the selected companies.