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With steed, steel and savviness at hand, South African software development company Byte Orbit recently announced its annual startup competition — Startup Knight.
A third time round, the Startup Knight is on an epic crusade that seeks to empower aspiring tech entrepreneurs and visionaries in South Africa. Cantering with the theme “Technology that Enables”, the event is seeking honourable applicants from around the country who are focused on innovations which enable SMEs to operate more efficiently, more competitively or achieve scalability.
The competition is divided into two phases, namely the Startup Phase which requires entrants to have a working prototype, and the Concept Phase which holds entrants to have an innovative idea that’s commercially viable. The entrants for the concept phase are required to demonstrate research into the concept as well as offer a go to market plan and revenue model.
The grand prize for the Startup division consists of software development to the value of R150 000 as well as R100 000 in PR. This year, Startup Knight is adding a runner up prize of R50 000 in the Startup division that will go towards PR or software development. As in previous years, Byte Orbit will take a negotiated minority equity stake in the winning startup.
|First runner-up||R 35,000|
|Concept second runner up||R 25,000|
Winning concept to cede IP to Byte Orbit.
|Winner||R 150,000 in Software development
R 100,000 in PR
|Runner-Up||R 50,000 in PR or Software development|
Byte Orbit to consume small equity stake in winner
The winners will also be given the opportunity to further showcase their business at the Standard Bank Matchi Event in Johannesburg in December.
The chosen finalists from each category will be required to pitch to a judging panel on 8 November and the winners will be announced on the evening of 8 November at the Startup Knight cocktail event.
Entries opened this week and need to be submitted by midnight on Sunday 26 October, so giddy up startups! See the Startup Knight website to enter.