Maxum Business Beat
We Have Lift-off!

The Maxum Business Incubator at The Innovation Hub in Pretoria, in conjunction with the University of Pretoria and Ideabank, is proud to announce that the Business Beat competition produced a total of 38 applicants by close of day on 2 February 2009. Business Beat is a competition for individuals with innovative ideas in the areas of ICT, bioscience, electronics, energy, and/or smart materials and manufacturing.

Competing for a Maxum Pre-incubation Start-up Package – free office space at The Innovation Hub for 6 months, mentorship, networking opportunities, and the chance to join the full incubation programme – selected applicants will get to present their innovative idea to a team of MBA students from the University of Pretoria for concept refinement prior to presenting it to the Maxum Selection Advisory Panel.

“The response was phenomenal! We are not merely talking numbers of entries here; even the quality of innovative concepts/ideas is amazing”. The next phase will involve short listing to find the most solid ideas to go through to the next stage. The second phase of Business Beat is the most intense as this will involve presentations, one to one between the entrepreneur and the MBAs until a well packed business proposal is submitted”, says Patricia Dlamini, Manager of the Maxum Business Incubator.

From the 38 applications received, those selected will be invited to present their innovations at a Business Beat Function, scheduled for 17 February 2009. The event is certain to be an interesting, informative, and innovative journey for candidates and adjudicators alike.

It all started on 3 November 2008 with what was called an “Ideacamp”– a forum established to help make innovative business ideas a reality. The forum addressed issues relevant to launching innovative applications with global potential. Business

Beat forms the second phase of the initiative with the aim to help structure teams to compile a business plan, and demo model, of innovations with revenue potential.

Patricia Dlamini explains; “It is truly encouraging to note that there is huge potential for innovative ideas coming out locally; now we have to address issues like funding of early stage concept. We are presently in discussion with venture capitalists and also government funded programmes like SPII (IDC) to see how the funding gaps could be addressed.”

Issued by:
Liezel van Rensburg
Jell-o Communications cc.
Mobile: +27 78 166 6460
Mail: liezel@jell-o.co.za

Business Beat

Win a Maxum pre-incubation “start-up” package to the value of R8400 which includes:

Free plug and play shared office space for a 6 months (a R500 deposit, telephone costs and consumables will be for your own account)
Attending Izazi entrepreneur forums (opportunity to network with like-minded entrepreneurs)
Exposure to experienced business mentors and Maxum management team who will guide you in the process of deciding what is necessary to convert your proposed business concept/prototype into a real, viable business opportunity
An opportunity at the end of your pre-incubation period to decide whether your business idea has the potential for making money and become part of the Maxum Business Incubator programme
If your business opportunity is good enough, you will be introduced to venture capitalists who may be interested in investing in your business

SO WHY INCUBATION AND MAXUM?

With an 80% success track record of companies who have been part of Maxum and who are still in operation as successful businesses……

……..the Maxum Business Incubator is the place to be.

The answer to success lies in:
Maxum’s sharing of tried and tested business knowledge
Maxum’s business mentorship and access to role models
Maxum’s partnership opportunities and exposure to markets, resources and funding
Maxum’s incubation and pre-incubation programmes for Start-Ups struggling to enter the market

Important dates to remember:

2 February 2009:	Deadline for receipt of powerpoint applications to besubmitted to Maxum
9 February 2009:	Successful applicants invited to prepare presentation for Business Beat Function
17 February 2009:	Business Beat function at The Innovation Hub, Pretoria
6 March 2009:	Deadline for receipt of proposals for Maxum’s pre-incubation programme
30 March 2009:	Notification of winners of the competition
May 2009:	Winners join Maxum pre-incubation programme

E-mail your presentation with your contact details to:

bngwenya@theinnovationhub.com

The deadline for entry submissions is 2 February 2009.

For more information contact:
Patricia Dlamini, Manager: Maxum: (012) 844 0084, pdlamini@theinnovationhub.com or visit www.maxum.co.za