Tiger Bytes was declared the winner in the startup phase of the third edition of the Startup Knight competition held in Cape Town, South Africa over the weekend, walking away with ZAR250,000 (US$22,000) in prizes.
The team won the prize for its Vula Application, an online learning tool used by staff and students at the University of Cape Town, with the prize money split between software development and public relations and go-to-market efforts.
Meanwhile, in the concept phase, Mobisurance was the ZAR100,000 (US$8,900) cash winner for its plans to adopt mobile and satellite technology to provide insurance to low-end crop farmers in rural areas where standard insurance is inaccessible.
MediaBox was first runner-up in the startup phase for its hardware device that introduces 3G integration along with more input sources, while in the concept phase LanteOTC was second runner-up for its marketplace that connects SMEs with investors, and Twanga was second runner-up for its all-in-one loyalty card.
The winners will be given the opportunity to further showcase their businesses at the Standard Bank Fintech Innovation Showcase in Johannesburg on December 5.
“Since its inception in 2012, the Startup Knight competition platform has grown exceptionally when looking back over the past three years. It is also evident that the quality and quantity of entries have grown to over 150 entrants this year,” said Martin Ras, chief operations officer of Byte Orbit.
“Startup Knight is an ideal platform to showcase innovation at work, and we congratulate the winners of this year’s competition. In our continued journey to bring innovative solutions to our customers, we look forward to exploring partnership opportunities with these inspiring tech entrepreneurs,” said Paul Steenkamp, head of innovation capability at Standard Bank.