LaunchLab, ATTACQ launch US$7,000 retail innovation challenge

LaunchLab, a business incubator housed at Stellenbosch University, South Africa, and ATTACQ, a leading capital growth fund in the Real Estate sector, have launched a retail innovation challenge.

Known as Breakthrough Innovation Platform, the challenge seeks to capture new ideas and business models that may create the next breakthrough innovation in the retail industry.

These ideas, among other things, will allow new businesses to engage with ATTACQ to assist in making an impact on retail in Africa.

The ideas are expected to address the following: Responding to the e-commerce needs of clients and customers; Customer experience, comfort and convenience; Payments within ATTACQ properties, and Operational issues: utilities, security, cleaning.

In order for entrepreneurs to fully grasp what the challenge is about and come up with winning ideas, two workshops were held on August 11 and 19 at Mall of Africa and Nedbank Stellenbosch University LaunchLab respectively.

This will be followed by the submission of ideas starting August 29, 2016. Selected entrepreneurs will pitch at a final event which will take place on October 19, 2016.

The entrepreneurs with winning ideas will receive US$7,000 in seed funding and LaunchLab incubation support for 6 months with US$10,500 to be used to launch and grow their business ideas.

South African entrepreneurs interested in the challenge can find more details HERE.

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