The five finalists in an entrepreneur competition run by co-working operator The Workspace and MiWay business insurance have been chosen.
One more workshop, followed by the contestants’ last chance to pitch their businesses, will take place before the winner is announced on September 13.
The finalists are cloud-based loyalty management platform and app for SMEs Loyal 1, finance solution company Matla Risk Management, events and catering business Sindi’s Best for All, mining tech integration partner Dwyka Mining Services, and Minatlou Trading 251, supplier of general and women-specific protective personal equipment and clothing.
They each stand a chance to win a prize worth over ZAR350,000 (US$27,000) to help set them up for a period of 12 months, which includes 12 months free office space at The Workspace’s Village Road premises, free Wi-Fi, free phone rental, free business insurance and business advice, as well as all risk equipment insurance, free tea and coffee, free usage of meeting and board rooms, free security and 24-hour access, free parking and a new laptop.
Phakiso Tsotetsi, co-founder of the Hookup Dinner and one of the judges, said a pitch-readiness workshop helped whittle down the top 10.
“It helped the entrepreneurs in developing concise, repeatable sales pitches for their businesses, which afforded them the opportunity to get closer to being chosen into the top five,” he said. “As it stands we are very excited about the decision we have made and looking forward to the rest of the journey in this competition.”
Loyal 1 founder Tshireletso Hlangwane said he had been given the opportunity to learn from judges, as well as a shot at prizes that would help grow his business and become a “well-oiled machine”.
“Many entrepreneurs in South Africa need such skills in order to improve the business and grow their businesses,” he said.