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Innovative SA entrepreneurs with business, product or tech ideas which can support the wine and related industries in the country stand a chance to win a share of R150 000 in the recently launched SA Wine Industry Innovation Challenge.
The challenge is an initiative of The Wine Industry Network for Expertise and Technology (Winetech) in partnership with LaunchLab and Stellenbosch University’s Faculty of AgriSciences. Entries are set to close on 28 September.
The challenge is open to innovators with a self-sustainable business idea — no matter how simple or small — that addresses a particular social issue, impacts communities, empowers the disadvantaged, and has the potential to solve local problems in innovative ways.
Entries for the SA Wine Industry Innovation Challenge are set to close on 28 September
In a statement earlier this week, Winetech executive manager Gerard Martin said the wine industry is under severe pressure from many angles. These, he said, include climate change, water scarcity, consumer and competitor behaviour.
“So in order to compete successfully in a very dynamic global market place, the innovation challenges are becoming more complex. As the old formulas and playbooks seem less relevant with emerging non-traditional competitors, it is becoming clearer that a new, more experimental mind-set is needed to test new approaches to innovation,” said Martin.
A jury panel comprised of wine industry representatives as well as business leaders and technology experts will select the challenge’s top 10 finalists.
Selected finalists, who are set to be announced on 2 October, will receive exposure to a broader network of investors at the final pitching event, of which the date will be confirmed on the challenge website.
Learn more about the SA Wine Industry Innovation Challenge submission requirements here.