PITCH & PERFECT

COMPETITION

News

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The SA Innovation Summit and the Small Enterprise Development Agency (Seda), of the Department of Small Business Development, are presenting Season 5 of the Pitch & Perfect Masterclasses and Competition – “Bridging the Gap between Entrepreneurs and Funders” 

The initiative provides SMMEs across the country, including those with support from Seda branch clients and Seda supported business incubator clients, with professional tools on how to present business cases effectively and efficiently, in persuasive pitches to potential funders, improving access to market, technology and finance. 

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WHAT TO EXPECT?

SMMEs are invited to apply online or visit their nearest Seda branch or relevant Seda-supported incubator to register as a client and request to be added to the registry for regional Pitch & Perfect sessions. 

Branches, Incubators and Provincial Offices together with the Seda Technology Programme will then choose the best ideas and businesses that will pitch in the regional competitions to a panel of judges made up of representatives from developmental funding institutions, commercial banks and venture capitalists. The panel will judge the pitching, score the pitch, deliberate, moderate and give a final score with advice on improvements and praise where an enterprise has done well. 

WHY PARTICIPATE?

The initiative aims to: 

  • Match entrepreneurship and innovation to technical funding 
  • Improve leverage of internal and external Intellectual Property assets 
  • Improve business pitching ability, for access to finance. 
  • Improve quality deal flow for investors through market-ready SMMEs 
  • Improved access to finance for SMMEs 

PITCH & PERFECT CRITERIA

Product and Innovation

Is the product/service convincing and innovative? Why is now a good time? Is the need fulfilment clear? How has IP been used?

Market Demand

Are customers, segment sizes, distribution and after-sales proven? Is there sound knowledge of alternatives and competitive advantage?

Revenue / Feasibility

How is revenue generated? Have operations, marketing, pricing, volume, costs, risk mitigation, and return on investment been quantified?

Scalability

Can the team and offering grow quickly, outpace competitors, and penetrate new markets?

Entrepreneurial Personality

Is there evidence of driven entrepreneurial mind-set, risk-taking, action, accountability, and learning from failures?

PRIZE OFFERING

The winners of the National Pitch & Perfect Competition will be awarded with: 

  • 1st place: Technology incentives to the value of R 300 000 
  • 2nd place: Technology incentives to the value of R 200 000 
  • 3rd place: Technology incentives to the value of R 100 000 

The following conditions apply on this offer

  • These prizes will not be given as cash but as a technology incentive, in the form of technology/equipment procured on the winners’ behalf from a supplier of their choice, together with a co-payment by the winner to the supplier of an additional 10% of the award.
  • The incentive is budgeted for the 2021/2022 financial year and requires entering a 3-year contract for reporting of impact return on investment achieved, through growth in sales turnover and employment. 
  • An incentive application process will be followed during which the technology/equipment request will be vetted for applicability to the business, and for compliance to supply chain management policies according to the Public Finances Management Act.
  • The requisite business and financial details for the incentive application is to be accompanied by supporting documents such as 3 quotations, financial statements, tax clearance, supplier CSD registration and Standard Bid Document forms.

TERMS & CONDITIONS

Please take your time to carefully submit your pitch as this application will be the first level of evaluation. 

You can enter as an individual, group or a company. 

The Intellectual Property should belong to you or your company and you should be able to supply proof of ownership on request. 

Entries to this competition close on 25 June 2020, and the last semi-final regional competitions are at the end of August. 

The SA Innovation Summit and Seda reserve the right, by their sole discretion, not to accept entries or to disqualify entries at any stage should it transpire that such entries have been made by illegitimate, suspicious, and/or unqualified participants. 

Winners will be chosen by a qualified appointed judging panel. Judges for each evaluation round will differ. The judging panel’s decision is final. 

Where applicable: The Pitch & Perfect Competition is a non-confidential competition and the full responsibility lies with entrants themselves to protect their concepts through any means. Your concepts will be viewed in public and by many different audiences in order for you to make connections. It is therefore important to be compelling about what you do and how you will be sustainable without divulging your know-how in terms of recipes, formulas, code, knowledge or other means. 

By entering the competition, you give the SA Innovation Summit and Seda permission to use images, footage and other visuals collected during the pitch on social media, the Summit website and any other platform relevant to the SA Innovation Summit. 

Travel and accommodation costs for regional pitchers and finalists will be the responsibility of the entrants themselves. 

The outcome of the results with the announcement of the finalists, after the judging process has been completed after the closing date end of August, will be made available on the website. 

A complimentary delegate ticket to the Innovation Summit will be issued to all finalists. 

For any queries about the Pitch & Perfect Masterclasses and Competition, please contact us at 082 708 1960 l email:  info@innovationsummit.co.za