Gauteng Innovation Competition

Description

The Gauteng Innovation Competition (GIC) is an initiative of The Innovation Hub (TIH), Gauteng Growth and Development Agency (GGDA), and Gauteng Department of Economic Development (GDED). The 2011 edition of the competition attracted more than 130 entries and over R1 million in prize money was awarded. The 2012 edition of the competition is looking for innovations that address key service delivery challenges in the province within two themes; mobile and green technologies. Municipalities and key sector stakeholders have assisted us in identifying seven high priority opportunities within the two themes.

Website

http://gic.theinnovationhub.com/participation/rules/

Competition Organizer

The Innovation Hub

*International Event*

Submission Date

10-31-2012

Business Plan Submission Date

10-31-2012

Awards Date

11-04-2012

Total Prize Cash (US Dollars)

$59,607

Competition Category
  • Technology - Other
  • Business - Global
  • Graduate - Global
Who's Eligible
  • The competition is open to individuals, small teams and business entities in South Africa.
  • Teams or individuals based outside of Gauteng may enter, but the judges’ scoring will be heavily weighted in favour of entrants based within the province.
  • Entrants are not required to be formally registered as a legal business entity to enter the competition, but they must be registered in a form appropriate to an SMME before receiving any prize money.
  • Entries from established businesses must not have a turnover of R5 million or more in the last financial year.
  • Individuals and companies that entered the previous competition are eligible to enter this year and are allowed to submit the same innovation. Innovations that received an award from the previous competition will however not be eligible for a prize again this year.
  • Members of the competition steering committee, advisory panels or adjudication panels, and their immediate families, may not enter the competition.
  • Award winners will need to enter into an incubation agreement described below.
Competition Prizes

The total prize money is R1 million with a R500,000 pool available for both the mobile and the green theme. The top three submissions in each of the two themes will receive the following prizes:

  • First place – R250,000: R75,000 as a cash prize, and seed funding of R175000
  • Second place – R150,000: R45,000 as a cash prize, and seed funding of R105,000
  • Third place – R100,000: R30,000 as a cash prize, and seed funding of R70,000

Prizes will not be allocated by theme focus areas. In other words, more than one prize can be allocated to a single focus area, and not every focus area will receive a prize. Seed funding will be given in approximately three payments, tied to agreed development milestones. In addition to the cash prize and seed funding, the three winners will receive mentorship and commercialisation support. Where possible, the theme coordinators will facilitate linkages with local government for potential procurement of the solutions. Please refer to the Rules page for more information on eligibility and the awarding of prizes.