Another three Gauteng-based hi-tech start-up companies have successfully established businesses and graduated from The Innovation Hub's Maxum Business Incubator in Pretoria today. This follows the graduation of seven companies a year ago.
The event, held in The Innovation Hub Conference Venue, formed part of the Hub's first Business Day Showcase aimed at bringing together role players in the hi-tech community in the province.
With a combined annual turnover of more than R8 million annually since entering the Maxum incubation programme over the last two years, all three graduating start-ups - Active Touch, TMI Consulting and SRM Technologies - have successfully commercialised innovative new products in local and international markets.
The three companies, whose business activities range across the ICT, electronics and materials and value-added manufacturing sectors, have all spent at least two years in incubation. With the assistance of business mentors and the enabling, shared services environment at the Hub, their businesses grew to self-sustaining levels that enabled them to exit incubation as successful business entities.
According to Maxum Manager, Dr Jill Sawers, speaking at the event, the Maxum Business Incubator has reported a success rate of 83% of entrepreneurs establishing sustainable businesses through its incubation programmes. "On average, the growth rate in annual turnover of the 10 companies that have graduated from Maxum since its inception in 2000 has been 78%, with an accumulated annual turnover in excess of R50 million. This significant achievement is evidence of a government initiative to stimulate SME development and economic growth that is giving a significant return on investment," she said.
The innovative new products and services from the three companies include e-learning courses for industry and progress tracking through customised e-learning management systems; simulation and control technologies to improve product development and qualification processes by halving duration and costs for the aerospace, automotive and defence industries, such as reducing the flight testing of the new Gripen from one month to one week; and customised, end-to-end supply chain solutions where the technology is currently being used to manage 800 million British pounds worth of transactions such as tenders, contracts and reverse auctioning.
Active Touch MD, Catherine Fourtier, said Maxum had helped the company to develop into a professional business. Current clients include Toyota SA and the SA Post Office, for which it has developed customised e-learning courses for the sales force and employees.
The local aerospace and defence industries are benefiting from the cutting-edge simulation and control technologies being developed by TMI Dynamatics. Managing Member Thivash Moodley indicated that approximately 50% of the company's projects are with Saab and Bae Systems, as well as Denel, the CSIR and African Defence Systems. The company has been contracted to perform aeronautical analysis for the integration of external stores for the new Gripen fighter aircraft and customise the aircrew training simulator for the SA Air Force.
"Currently, we are preparing simulation and control technologies for the automotive industry," said Moodley.
According to SRM Technologies COO Johann Havenga, the company has concluded a significant deal with the Bidvest Group in Europe to develop a complete, end-to-end integrated supply chain solution. This makes the company the preferred key technology partner for Bidvest's UK procurement services arm, Makella. Havenga believes this deal heralds good news for the local market, where supplier relationship management as a concept is in the early stages of adoption.
"Exposure to international expertise and technologies can only strengthen the local industry. The SRM technology, although originally from overseas, will now become locally-driven," he said.
In addition to business success, the companies in Maxum also contribute to job creation.
"Between the 36 companies that have participated in Maxum's incubation programmes since 2000, 195 jobs have been created in the local economy," said Sawers. Assuming that each job created has resulted in a salaried position of approximately R150k, then Maxum tenants have created taxable earning of almost R30 million. Nine of these companies are BEE-owned and two have female ownership.
"We are proud to showcase this group of successful start-ups and their significant progress since entering incubation. Sharing their excitement as they developed and launched new products and witnessing their journey from the innovative idea stage to business competence and market acceptance has been a privilege," she said.
Executives from the graduated companies spoke about how incubation helped to leverage their business efforts. Important drivers included their access to top quality infrastructure, resources and existing networks.
"The results that we are seeing today bear testimony to the success of incubation. It is exciting to witness start-ups on the road of success. This makes our objective of providing an empowering environment for SME development and growth, which leads to job creation and economic growth, all the more worthwhile," Sawers concluded.
Media enquiries
Amie Hunter, I Brand Strategic Marketing Solutions
Tel (0861) 151 129 or cell (082) 290 9280
amie@ibstrat.co.za or kagiso@ibstrat.co.za
Technical enquiries
* Active Touch, Catherine Foutier, MD
(012) 844 0179 or catherine@activetouch.co.za
www.activetouch.co.za - eLearning courses and tracking management systems
* SRM Technologies, Johann Havenga, COO
(012) 844 1070/1 info@srm-technologies.com
www.srm-technologies.com - develops supplier relations management solutions
* TMI Dynamatics, Thivash Moodley, Managing Member
(012) 844 0310 tmoodley@tmidynamatics.co.za
http://www.tmiconsult.co.za - develops simulation and control technologies for aerospace and defence
Available in media pack (e-version at www.theinnovationhub.com/opendaysmedia)
* Profiles and product information of graduate companies listed above
* Profile on the Maxum Business Incubator
* Event programme
Information on the Maxum Business Incubator at www.maxum.co.za
Information on The Innovation Hub at www.theinnovationhub.co.za
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