Startup entrepreneurs with innovative products and ideas that could disrupt the wine industry both locally and internationally are hereby invited to apply to the Wine Industry Innovation Challenge.
This challenge came about after a partnership between FinTech and the Stellenbosch University-based incubator LaunchLab and Faculty of AgriSciences. There is $10,600 (R.150,000) prize money up for grabs for the winner.
Other than the cash award, the top participating startups will also benefit from exposure to a broad network of investors. The investors come from various backgrounds including the wine industry, business community, and the tech sector.
“We are passionate about advancing the South African Wine Industry, and paving the way for success by creating and sharing knowledge. We make it our mission to identify, prioritize, commission, completer, and transfer research, development, and innovation projects and initiatives that will directly contribute to strengthening the profitability and competitiveness of the industry,” said Gerard Martin, the executive manager of Winetech.
“The wine industry is under severe pressure from many angles, so in order to compete successfully in a very dynamic global marketplace, the innovation challenges are becoming more complex. As the old formulas and playbooks seem less relevant with emerging non-traditional competitors, it is becoming clearer that a new, more experimental mindset is needed to test new approaches to innovation.”
If you are a startup entrepreneur with an innovative product or idea that you believe will revolutionize the wine industry. You need to submit your application to this competition using a three-minute video pitch, briefly explaining what your product or idea is all about. You must also mention how your product or idea can be implemented as a sustainable business. Application window closes on September 28, 2018.