Over the past four months LaunchLab ran the entrepreneurial challenge across partner university campuses in the South Africa to source innovative smart city ideas to help build smart urban development Waterfall City. This was done for the second year in partnership with Attacq.
The challenge formed part of the LaunchLab’s Breakthrough Innovation Platform that officially kicked off with a briefing workshop, held on 17 August at the Nedbank Stellenbosch University LaunchLab. More than 50 aspiring and practicing entrepreneurs and enthusiasts attended the workshop, where Attacq provided an overview of the business, allowing participants to understand first-hand the challenges and opportunities within the industry and focus their business ideas. The challenge was open to anyone with solutions that address opportunities specifically in; locations technologies, transportation, security IoT, loyalty and technology to improve the experience in spaces, where people live, work and play. Their ideas were either pitched at participating campuses or submitted online.
LaunchLab received more than 60 submissions which were then narrowed down to the top 12 finalists. The finalists pitched their smart city innovation ideas on 26 October at the Nedbank Stellenbosch University LaunchLab to a panel of judges consisting of four senior executives selected from Attacq and the LaunchLab.
“We realised significant value from the previous LaunchLab programme, and this one promises to be even better. We are currently working with two of the concepts from our 2016 Retail Challenge, and are customers of a third. Our intention this time round is to access new ideas and create the next breakthrough innovation in the smart cities sector, bringing the use of smart technology to a new level in Africa,” says Michael Clampett, head of Retail Asset Management at Attacq.
“Attacq will carefully monitor the development of these six winning business ideas and work with the LaunchLab team during the next phase to gauge their potential to add value to our business and existing stakeholders.”
Says Philip Marais, LaunchLab’s CEO, “LaunchLab’s Breakthrough Innovation Platform is ideal for established businesses that are looking to tap into new markets and future revenue streams by accessing new external breakthrough ideas. We saw a lot of success through the last retail challenge with Attacq and we expect even more from this Smart Cities Challenge. Attacq are great partners for any startup team to engage with to see their dream become a reality.”
“External business ecosystems such as LaunchLab are far better equipped to incubate new creative ideas effectively and efficiently. The established business can continue with its day-to-day business, while LaunchLab helps entrepreneurs to develop new business ideas for them. LaunchLab monitors the progress of these business ideas and mentors the entrepreneurs, with assistance from the established business, through the LaunchLab Lift-Off Programme process,” he adds.
The Attacq Smart Cities Innovation Challenge winners, who will proceed to the LaunchLab Lift-Off Programme, are:
