Start-Up Index to monitor local tech companies

Speaking at the launch, Prof Mthuli Ncube, executive dean of Wits University's faculty of commerce, law and management, said one of SASI's main objectives is to create awareness in the market place around innovative SA start-up companies with the potential to compete on the global stage.

“SASI will operate as a collaboration between academia, private sector institutions and government and will include academic research around the start-up environment.

Showcase your company

“The index will publish quarterly reports that will allow all companies on the index to showcase their products and services as well as profiling key competencies and leadership,” he added.

The index will track the company's quality of products, vision, amount of funding, the investors (who are they?), sustainability (can it still exist in 10 years' time?), the traffic that is going to the company's website, and followership (hits on the company's website), among others.

The ‘free of charge' service, which will have an online presence on www.busrep.co.za and www.iol.co.za and printed in Business Report, will in the future be extended to other sectors of the economy including furniture, mining, farming, retail and many more.

More sectors in the pipeline

Ncube, who said the index chose to focus initially on tech companies because of their robust websites, said SASI is a social responsibility drive.

“This is an attempt to strengthen the SA entrepreneurship ecosystem and we don't intend to make money out of it, but we hope economic operators and partners will sign in willingly to make it sustainable.”

Currently, the index covers 29 local technology companies, with Yola (57 points), ITWeb (50), @lantic Internet (41), MXit (39) and Zoopy (32) listed in the top five.

The scores are based on YouNoodle, a first real-time and scientific measurement of private company progress. It is based on publicly available data and will be updated daily.