Top honours at pan-European entrepreneurship event

December 20th, 2012, Published in Articles: PositionIT

South African start up Waytag achieved the top prize for an online business at the recent pan-European IE Business School Venture Day awards. The IE Business School is rated as one of the leading business schools in Europe, having won that accolade from international media such as The Economist, The Financial Mail and The Wall Street Journal. In a closely competed event, organised to promote entrepreneurship and introduce local and international investors to start ups, location tech company Waytag won top prize in the online category.

Waytag, which has developed a new global addressing system to help people with access to connected devices share their location using a single word, across any platform, participated in the IE Business School Venture Lab programme by virtue of the fact that the company’s marketing director, Nicholas Bednall, is an alumnus of the institution.

The International Centre for Entrepreneurial Management (ICEM) co-ordinates IE Business School’s various entrepreneurial efforts, building upon its status as a worldwide reference for entrepreneurs. The Venture Lab operates within the ICEM and presents the very best student and alumni projects to an international network of business angels and investors. The university incubates and accelerates the most disruptive projects so that they are investment-ready, and The Venture Day is the day on which these projects are presented to a jury of judges and potential investors.

Projects who present at Venture Days must be “investor ready”, with a committed team and a business model that has been tested. The principal criteria are innovation, high growth potential, and scalability. Only IE students and alumni may participate, and applications are filtered by a selection committee who invite only the most promising projects to deliver an investor pitch.

The event showcased the school Alumni’s best start-up projects and ventures to a jury of 22 angel investors, serial entrepreneurs and venture capitalists. With significant global representation from China, Silicon Valley, Singapore and Europe, the panel drew on its global experience when deliberating over six finalists from a short-list of 60 applications.

Contact Nicholas Bednall, Waytag, Tel 083 375-1626, nicholasbednall@about.me

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