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What it takes to make it as a start-up in SA

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While South African start-ups have the talent and drive to operate and compete in the global market, the failure rate of start-ups within their first year is truly staggering. The fundamental question therefore remains, what does it actually take to make it, asks DANIEL SCHWARTZKOPFF of DataProphet.

Daniel Schwartzkopff – Commercial Director and Co-Founder of Cape Town-based start-up and machine learning specialists, DataProphet – refers to the 2016 report, ‘The Small, Medium and Micro Enterprise Sector of South Africa’. Commissioned by the Small Enterprise Development Agency, the report highlights the growing concern related to risks that threaten the existence of SMMEs.

“This threat is supported by multiple reports and statements by leadership such as that of South African Minister of Trade and Industry, Rob Davies, who in 2013 noted that five out of seven new small businesses started in South Africa fail within their first year.”

“The Global Entrepreneurship Monitor (GEM) also found that the survival rate for start-ups is low and that opportunities for entrepreneurial activity appear to be at their lowest in developing countries.”

Schwartzkopff, who was just 19 years old when he first became involved in the establishing successful start-ups, notes there are a number of local and international hurdles entrepreneurs need to be prepared for on their journey.

His biggest piece of advice is to have a defined goal and a revenue strategy from day one.

“While selling the potential of your dream may open a door or two, having solid figures and a realistic plan to back it up will get you far further.”

He says, “Luckily, age is not as much of a barrier as it once was. There were times when young founders and directors would be quickly overlooked for their more experienced counterparts.”

“There has been a really positive shift in this regard, especially in the international start-up environment, where successful young business owners and entrepreneurs are recognised as being on top of their game and able to hold their own in a room full of clients or investors – sometimes double their age.”

If you have your sights set on entering the international playing field, Schwartzkopff – who spends part of his time in the US working with DataProphet’s Silicon Valley-based clientele – emphasises that the most difficult thing really is to get your foot in the door.

“Taking your start-up to a global level means that you have to make connections and get new clients from a region which may be completely new to you.”

“This is one of the hardest things you can do considering that this requires a permanent presence and a clear strategy of how to compete with existing competition who have already made a name for themselves – this takes time and can definitely not be rushed.”

“In addition, you need strong planning and networking skills as well as the ability to sell yourself, your business and the innovation which you are able to offer,” he says.

DataProphet, which was founded in 2013, recently entered into an investment partnership with one of the country’s top global investment and private equity groups – Yellowwoods Capital Holdings.

Schwartzkopff notes that, “Not only is this investment testament to the team’s hard work but it still allows us the freedom to do what we do best.”

He explains that while local tech start-ups are “up there” with the best in the world, it is difficult to find a potential investor and even more difficult to find the right one. “Spending a bit more time and effort to ensure the right fit however, is definitely worth it.”

“A priority for many upcoming start-ups, securing investment is often a source of frustration and worry. The landscape is limited in South Africa and it is easy to be tempted to accept your first offer,” Schwartzkopff explains.

He advises that entrepreneurs spend some time talking to others who have been in the same position and set out a clear vision of what is needed from an investor including their level of involvement in the day-to-day running of the business and their cultural fit with the organisation.

“Do your investors share your vision? Do they understand your business and your brand? Cultural fit should be a major deciding factor when considering an investor,” he says.

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Projection tech transforms retail

By TIMOTHY WILSON, visual imaging business account manager at Epson South Africa

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Display designs, such as those found in retail stores, are no longer confined to static visuals on pull-up banners, 2D print and posters. The increasingly popular use of projection technology has ushered in new and exciting ways to create immersive displays using rich media and high-quality visual content to go beyond the four walls of traditional marketing.

In the past, projectors were lamp-based and prone to failure when used in a harsh environment, such as a retail store. Today, newly introduced laser projection technology has unlocked a range of capabilities.

Transforming the way brands engage with audiences

Creative techniques such as projection mapping, which can be described as the projection of video, animation and other colourful displays onto 3D surfaces, have completely transformed the way brands engage with audiences and can live in retail spaces, concert halls and even sports stadiums.

Projection mapping offers venues wide-spread creativity in using lighting in small or large environments, as was the case with Epson’s showstopping kinetic portal, which implemented projection mapping on a 360 degree vortex at the largest AV and systems integration show in the world – Integrated Systems Europe 2019. Driven by a new, affordable generation of projectors, mapping not only covers flat walls and traditional projections screens but also irregular shapes, objects, and even entire building façades.

When projecting on a larger scale, such as at events and music concerts, the process of visually combining several projectors to display one single seamless image might sound simple enough in principle but can prove to be a challenging task in reality. To overcome this challenge, experiential marketers are adopting the use of image edge blending, which refers to the process of stacking multiple projectors to create a single overlapped projection that appears continuous and clear.

It’s due to these advancements that displays in retail and events no longer pivot just on aesthetic appeal but can now deliver immersive consumer experiences that drive engagement and increase foot traffic. This is starting to drastically change the way that retailers, events and even restaurants host, engage, entertain and communicate with their audiences.

Projection is driving growth in experiential marketing

Consumer interest in the transition towards projection has seen this technology take centre stage at leading retailers such as Mall of Africa, events by brands such as ABSA and restaurants like Saint, transforming their environments into immersive spaces through projection that displays captivating imagery and video.

Saint restaurant in Sandton has pushed the boundaries of branding and displays, transforming all surfaces into a visual delight. Patrons entering the restaurant are greeted by a visual experience within a dome, featuring a series of moving, constantly changing artworks – such as a starry night sky or a replica of the Sistine Chapel – projected onto walls and the ceiling.

In fact, EventTrack research, which showcases the current state of marketing around the globe, highlights the continuous growth of event and experiential marketing. It notes that high-quality projection technology, more specifically its ability to emit stunning visual experiences, has grown in popularity to become the go-to tool for event organisers and retailers looking to captivate and engage with consumers.

The future of projection technology

Projection technology has proven to be an outstanding, much more cost-effective and reliable form of marketing collateral – setting an entirely new standard for high-resolution projection.

Sandton City recently embraced this market-leading technology with the installation of a virtual aquarium in its Centre Court. This installation centred on creating a 3D mapping concept that enabled shoppers to select an undersea creature from a touchpad to swim across digitised hoarding.

With capabilities to meet the demands of large-scale projection and the ability to effectively transform the way brands remain visible at shopping malls, restaurants and retail spaces – the unprecedented imaging power of projection technology has set a considerably high bar when it comes to retail and event displays. 

Epson, which is not only pioneering imaging technology and innovative projection solutions, is also the market leader when it comes to high lumen laser projection, having recently announced its 30,000 lumens laser projector (EB-L30000U) which will officially launch in 2020. This high-end installation laser projector, complete with 4K enhancement, is aimed at rental and staging companies, hospitality markets and visitor attractions, which is yet another progressive step towards transforming the way marketers engage with their consumers in the 21st century. 

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GoFundMe hits R9bn in donations for people and causes

The world’s largest social fundraising platform has announced that Its community has made more than 120-million donations

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GoFundMe this week released its annual Year in Giving report, revealing that its community has donated more than 120-million times, raising over $9-billion for people, causes, and organisations since the company’s founding in 2010.

In a letter to the GoFundMe community, CEO Rob Solomon emphasised how GoFundMe witnesses not only the good in people worldwide, but their generosity and their action every day.

“As we enter a new decade, GoFundMe is committed to spreading compassion and empathy through our platform,” said Solomon in the letter. “Together, we can bring more good into the world and unlock the power of global giving.”

The GoFundMe giving community continues to grow with both repeat donors and new donors. In fact, nearly 60% of donors were new this year. After someone makes a donation, they continue to engage with the community and give to multiple causes. In fact, one passionate individual donated 293 times to 234 different fundraisers in this past year alone. Donations are made every second, ranging from $5 to $50,000. This year, more than 40% of donations were under $50.

GoFundMe continues to be a mirror of current events across the globe. This year, young changemakers started the Fridays for Futuremovement to fight climate change, which led to a 60% increase in fundraiser descriptions mentioning ‘climate change’. Additionally, the community rallied together to support one another during natural disasters like Hurricane Dorian and the California wildfires, where thousands of fundraisers were started to help those in need.

The report includes a snapshot of giving trends from the year based on global GoFundMe data. It also includes company milestones from 2019, such as launching the company’s non-profit and advocacy arm, GoFundMe.org, and introducing GoFundMe Charity, which provides enterprise software with no subscription fees or contracts to charities of every size.

Highlights from GoFundMe’s 2019 Year in Giving report include:

  • Global giving trends and data
  • Top 10 most generous countries
  • Top 10 most generous U.S. states and cities
  • Biggest moments in 2019

To view the entire report, visit: www.gofundme.com/2019

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