Stellenbosch University’s LaunchLab incubator has teamed up with real estate capital growth fund ATTACQ to host an innovation challenge focusing on the retail industry, with the winning participant to secure ZAR100,000 (US$7,435) in seed funding.
The challenge seeks to capture new ideas and business models that may create the next breakthrough innovation in the retail industry; and to connect entrepreneurs in the field with ATTACQ, with a view to participating in making an impact on retail in Africa.
While ATTACQ focuses on real estate, the fund says the nature of its clients’ interaction with their properties is changing, and as such ATTACQ wants to create a pipeline of added-value opportunities for its clients.
The challenge in particular seeks innovations which responding to the e-commerce needs of clients and customers; enhance customer experience, comfort and convenience; facilitate payments within ATTACQ properties; or address operational issues, such as utilities, security, and cleaning.
A Pitching Platform will be held at LaunchLab on August 29, at which applicants will be asked to pitch their business ideas. The finalists selected at the event will progress to a second round of pitching, to be held on October 19.
Participants stand to win ZAR100,000 (US$7,435) in seed funding, as well as ZAR150,000 (US$11,152), or six months’ worth, of LaunchLab incubation and support.
Details of the Pitching Platform can be accessed here.