Any black-owned, entrepreneurial IT company can enter the competition during the month of August. In September, the entrants will be briefed on how they will be measured, and six months later, in February/March 2009, the winner will be announced. A panel of skilled and experienced IT and business executives will score the entrants over the six month period using the following criteria:
1. Financial performance e.g. cash flow management and revenue growth
2. Customer retention and sales
3. Internal processes e.g. the quality of the company’s business plan and systems to implement it
4. Learning and growth e.g. the culture/approach of the individual or organisation
The successful entrant will receive a year’s free office space in the Bandwidth Barn in Cape Town, one of the leading business accelerators in South Africa. Office space includes access to meeting rooms and a shared reception, as well as networking opportunities with other tenants also in the IT industry. BSG, a black empowered business and software solutions delivery company will sponsor the office rental. Bandwidth Barn will sponsor a year’s mentoring programme for the competition winner. Chris Vermeulen, GM of the Bandwidth Barn, says that this is an important component as many IT entrepreneurs lack the skills required to run a successful business.
“IT entrepreneurs are often technically skilled, but lack business know-how,” he says. “Mentoring programmes have proven to be very successful to help IT start-ups find their feet.” To have access to office space in the heart of Cape Town’s business district is also a key advantage for an entrepreneur. BSG recognised this need and therefore approached Bandwidth Barn to partner with them in the BSG/BWB Enterprise Development Award.
“This forms part of our BEE enterprise development strategy,” says Greg Reis, CEO at BSG. “We are committed to helping BEE IT companies and providing office space takes care of a fundamental requirement for a credible and successful business.” Vermeulen says that the Bandwidth Barn welcomes this partnership as it is committed to finding more ways to extend its support to BEE IT companies. The Bandwidth Barn is a subsidiary of the Cape IT Initiative (CITI), a networking and cluster development agency that brings together people, ideas and capital to grow the Western Cape’s ICT sector. CITI’s goal is to promote Cape Town as a global IT hub and gateway into Africa, thus facilitating the creation of jobs and prosperity through IT.
Application forms for the competition are available on www.bandwidthbarn.org and www.citi.org.za
Contact information:The Bandwidth Barn Chris Vermeulen General Manager Tel: 021 409 7000 Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Red Ribbon Communications Elanza Mouton Tel: 022 433 4700 Cell: 072 469 4759 Email: This email address is being protected from spambots. You need JavaScript enabled to view it.