Innovo Networks, M1 Financial Solutions and R Protections were announced as the winner, first runner-up and second runner-up respectively in the Trade and Services category of the 2021 Eskom Business Investment Competition (BIC).
Innovo Networks is a telecommunications provider which tailors technology solutions to help small businesses grow and penetrate the market. Located in Milnerton, Cape Town, the company provides contact centre solutions, PBX, cloud computing and cyber security.
“90% of start-ups fail in South Africa and we want to play a part in their success through tailored telecommunications solutions.
‘Winning in the Eskom Business Investment Competition is really amazing. The prize money will help us realise business growth as we continue to help other small businesses who were disrupted by COVID-19 in South Africa,” said Damian Michael, Innovo Networks’ Chief Executive Officer, who walked away with R131 250 in prize money.
M1 Financial Solutions is an authorised financial services provider that operates as an intermediary to distribute financial services to vulnerable communities. They use industrial theatre to simplify messaging around their products.
“Being a finalist is testament to the foundation we’ve laid, and is an opportunity for us to share the technologies and tools we’ve employed with other businesses,” said Namahadi Kgoale, founder of M1 Financial Solutions.
They won R75 000 as the first runner-up in this category.
R Protections, which won R50 000 in prize money, specialises in security systems such as CCTV, access control, electric fencing, security guarding, and they provide SASSETA accredited security training. “Our quick response and after-service support give us a competitive edge. We are honoured to be finalists this year. It is reassuring that our hard work is being recognised,” said Tankisa Radebe, Managing Director.
“It is imperative that while the government continues to create an enabling environment for small businesses to thrive, we all play our part to ensure the sustainability of SMMEs and to enable them to reach their full potential. Eskom has been doing its bit to assist them through the Business Investment Competition, facilitated under its developmental vehicle, the Eskom Development Foundation.
We congratulate the entrepreneurs for grabbing this opportunity with both hands and for coming forward to exhibit the best they have to offer,” said Eskom Development Foundation Board Chairperson, Ms Sureta Moolman.