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Cape Town-based virtual business incubator The Startup Hatchery and Entrepreneur Traction have partnered to launch a quarterly entrepreneur pitching and learning platform, the Pitch Tank Pitching Competition 1.0.
The Pitch Tank Pitching Competition 1.0 is set to be launched Saturday 24 February at Barclays Rise Cape Town.
The competition is said to offer early-stage entrepreneurs an opportunity to learn, grow, connect and boost their confidence through pitch presentations.
“As part of the pitching platform, entrepreneurs get invaluable mentorship and business support through an experienced group of judges and industry experts, as well as a cash prize for the winners,” said Tania Cunningham, The Startup Hatchery co-founder.
“The competition is a great opportunity for entrepreneurs to pitch their innovative business ideas and determine if they are able to capture and retain the attention of possible investors and initiate vital business relationships.”
She added that the launch event will be attended by angel investors, venture capitalists from the HWeb Fund, and innovators.
“Initially the event will be held in the Western Cape and will be growing into other provinces as more partners come onboard,” she continued.
The Pitch Tank Pitching Competition 1.0 will enable participants to ‘determine if they are able to capture and retain the attention of possible investors and initiate vital business relationships’
Cunningham noted that 32 innovators had applied to pitch at the launch event.
“We were quite impressed by the quality and as a result selected 10 finalists and two wild cards to pitch on the day,” she added.
To participate in the competition, startups will require an innovative business idea or startup that has been running for more than three years. In addition, the business must have a scalable revenue model.
Judges at the event will include consultant Lara Rosmarin, the HWeb Fund managing partner Eric Pol, and head of Wesgro Invest SA One Stop Shop Salman Kajie.
The first, second and third place winners of the Pitch Tank Pitching Competition 1.0 will all receive 12 months virtual business incubation with The Startup Hatchery. In addition the first place winner will also receive a branding package and a content package on 2oceansvibe radio.
Launched last year, The Startup Hatchery has incubated 20 startups from Cape Town, Gauteng, KwaZulu Natal and Botswana.
On Tuesday 27 February, the incubator will launch a “self-paced” 12-week virtual business incubation programme.
“The concepts and skills presented throughout the 12-week online programme will help entrepreneurs gain hands-on experience to launch an actual business,” Cunningham noted.
“It will not just be a business concept described on paper, but the incubation programme will help entrepreneurs build a functional business.”
Featured image: (left) Startup Hatchery CEO and co-founder Nasmera Buckus and Startup Hatchery co-founder and chief digital marketing officer Tania Cunningham (Supplied)