LaunchLab, a network of Stellenbosch University campus-based business incubators, in partnership with MultiChoice, ran an entrepreneurial challenge across its partner university campuses in the Western Cape to unleash innovation in media. It has now selected three winners who will receive seed funding and incubation support from the LaunchLab for the next 12 months to be used to launch and grow their business ideas.
Brandon Pascal (LaunchLab’s Operational Manager) and Nomfundo Mncube (MulitChoice Innovations Manager, Strategy and Business Development) handing over First prize to Number Boost.
The challenge was open to anyone with an innovative idea for the entertainment value chain (production, processing, distribution or consumption) who wanted to pitch a business idea at one of the participating campuses or to submit a video pitch online.
“LaunchLab’s Breakthrough Innovation Platform is ideal for established businesses that want to access new breakthrough ideas from outside their own businesses to tap into new markets and future revenue streams,” says Philip Marais, LaunchLab’s CEO. “External ecosystems like the LaunchLab are far better equipped to test new ideas quickly and at a low cost. It is better for established businesses to stick with their proven business models, while the LaunchLab helps them to find new business models − although they still remain part of the process, helping to judge the progress of the business ideas and to mentor the entrepreneurs through the LaunchLab Lift-Off Programme process,” Philip added.
First place: NumberBoost (R50,000): A spatial-data science tool for demographic analyses and targeting.
Second Place: Mediatisers (R30,000): A virtual marketing space for media used in advertising.
Third Place: Eightstreet Stories (R20,000): A mini-series production house making short stories for exclusive mobile platform consumption.
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