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Last week we took a look at the finalists for the U-Start Bloom Business Plan Competition. U-Start, the Italian funding platform behind the competition, have now released the names of the six winning South African startups chosen for the startup showcase to be held in Milan later this year.
Winners are split between two groups.
Growth sector winners
Medical Diagnostic — The company manufactures lateral flow rapid diagnostic test kits.
Ad Dynamo — An advertising network. The startup isn’t listed as an initial finalist and appears to have been a late entry.
Seed sector winners
Perk — Earn points, called perks, for walking into brick-and-mortar stores.
Wabona — Instant, on-demand South African movies and TV shows.
The six teams receive flights and accommodation for two nights in Milan, Italy as well as mentorship, incubation, training and one-on-one introductions to a network of pan-European investors. The teams have also been pre-selected for the Cape Town chapter of Seedstars World.
The event was MC’d by Vuyisa Qabaka, a prominent member of the South African entrepreneurial community. Each of the finalists had a chance to pitch their business in the allocated time of three minutes followed by a questions and answers from the judges.
The judges had previously vetted all the finalists for the competition. This either included a business plan, set of financials or a full pitching deck.
U-Start’s global online platform aims to put entrepreneurs worldwide in touch with international investors most focused on innovative, high growth, and impact-driven projects.