A selection committee comprising of representatives from the French embassy, South Africa’s Technology Innovation Agency (TIA), consulting companies and investment companies helped selected the five finalists.
Petit said the selection criteria focused on the relevance of the product in France and the EU, each applicant’s level of achievement in terms of their technological capability and market readiness and the ability of the teams to perform on an international platform.
The South African startups will join 25 other companies from the US, Taiwan and Italy, giving them an opportunity to interact and partner with other startups.
“The five finalists stood out because they were at a stage where they were quite mature with regards to proof of concept and market readiness,” pointed out Petit. “Their technology is also at a world-class level and they are trying to address global issues which is really interesting. They also portrayed a real need for research and development partnerships,” he added.
The Young Enterprise Initiative finalists are developing solutions to global problems through high-calibre tech
The five startups will also receive further support from the French Embassy after the conclusion of the programme.
Petit said that he will follow the startup’s engagements with their French partners and identify ways to assist them with trade missions, investment in France as well as help them identify funding opportunities.
Here are the five finalists:
Cape Ray Medical: The Cape Town-based company developing breast imaging technology used to detect breast cancer.
Altis Biologics: Specialists in research and development of bio-materials used in skeletal regeneration.
Cocos Solutions: A Cape Town-based developer of an anti-icing and anti-pollution nano-coating material that can be used in the energy industry
Mellow Cabs: This startup manufactures electric micro cabs that are used for on-demand public transport, cargo delivery and advertising in urban areas.
Kebalepile TS: The company has developed a hand-held asthma predictive kit that alerts users of possible asthma attacks.