Earlier this month, car-based startup Ducere Holdings took home the R1-million prize at the Green City Startup competition in Johannesburg. The company created the MISER Hydraulic Hybrid Transmission Systems for vehicles, which is able to save up to 70% of fuel usage, and reduce CO2 emissions.
Ventureburn had a chance to catch up with Andre Reyneke (pictured top right), MD of the startup, to find out how the company will be using their prize money and new-found business fame.
When asked about asked why Ducere Holdings was entered into the competition, Reyneke didn’t sugarcoat his answer and said the prize and marketing were draw cards.
“We wanted to get some visibility and a sense of the market’s response to our technology, which we believe is best of breed and a disruptive innovation. The funding was very attractive. The business practices review and network interaction was an added bonus.”
On the topic of marketing, the startup has received more traction from the competition as well as opportunities that they otherwise wouldn’t have had.
“We have had marketing/PR opportunities and it is still ongoing, we have had interest from several parties and people are taking our technology a lot more serious now… it has certainly opened some doors for us!”
He went on to say that the prize money of R1-million will be used to complete the pilot MISER Hydraulic Hybrid Transmission project. They will also be able to have the results independently verified and published in journals across the globe.
“In addition, the prize money gets us in a position to sell the first units… this is huge for us!” adds Reyneke.
Reyneke says the company plans to commercialise the product for February 2017, as well as expand their offices in the UK to include France as well.
Finally, when asked about further funding for Ducere Holdings, Reyneke said it’s a definite.
“The international expansion which now has high priority will be expensive.”
Watch a video below on the MISER Hydraulic Hybrid Transmission Systems.