Special award for local entrepreneur

FOR his breakthrough technology in the mobile device industry, Simangaliso Zungu from KwaMbonambi was awarded a special prize in a recent entrepreneurial competition for youth in business.

Spearheaded by Ithala Development Finance Corporation, the Inkunz’isematholeni Youth in Business competition attracts youth with innovative and sustainable business concepts, and provides incubation and start-up support in their journey to becoming seasoned entrepreneurs.

Zungu’s innovative device, the Power Extending (PoEX) Module is designed with integrated mobile power-harvesting technology to assist with extending the battery life of cell phones and tablets.

No cable chargers or plug-in charging is required. The technology simply provides highly efficient power-on-the-go for cell phones and tablets to self-charge.

Owing to the delicate nature of the project, Ithala’s strategic partner, Technology Innovation Agency (TIA), will assist Zungu with developing his prototype and IP protection through their seed fund.

‘We understand the plight of SMMEs and therefore provide a combination of financial and non-financial support to ensure the sustainability of businesses,’ said Themba Mathe, Acting Group Chief Executive at Ithala.

‘Our strategic partner, Technology Innovation Agency (TIA), provides aftercare support and much-needed business mentorship to capacitate entrepreneurs.’

He said the calibre of entries this year and the level of innovation applied was most impressive and reflective of a talented and diverse pool of entrepreneurs.

Trevor Colvelle from Bulwer claimed first place with his invention of the Solar Nexus, a foldable solar charging device that can power a heater, radio, TV and lights in the home.

He walked away with R250 000 worth of business support.

The first special prize was awarded to Lloyd Gordon of Pietermaritzburg, the creator and owner of Vula Maths.

He received a R50 000 marketing voucher to assist him in marketing his existing product.