Khaya Cokoto get's R1m reward for innovation
A R1-MILLION boost was just what a Port Elizabeth mover and shaker needed to make her business dream come true.
Khaya Cokoto, 32, scooped the R1-million in financial and non-financial prizes when she was crowned the overall winner of the 2014 Technology for Women in Business (TWIB) Awards last week.
The bubbly Cokoto said yesterday she was still on a high from the awards, joking that she was starting to feel like a celebrity.
As the co-founder of an innovative new mobile advertising platform, UmoyAir, Cokoto and business partner Sapho Maqhwazima, 34, are on the brink of commercialising their venture.
The partners are planning to launch the platform next month and are finalising contracts with clients.
The advertising platform will offer free 1 minute 17 seconds calls from any cellphone to subscribers, who willingly listen to a 10-second advertisement before the call.
The venture aims to allow small businesses to reach their target market through an affordable incentive service.
"Things are going well with the business and the prizes has come just at the right time. We will use it to increase our advertising spend and to procure additional technology – including more computers and servers."
The BSc graduate from Nelson Mandela Metropolitan University left full-time employment to start a graphic design and advertising company, X Spark, with Maqhwazima less than 10 years ago and it was in this creative environment that UmoyAir was born.
She said just being part of the top six that had been vying for the TWIB Awards had already made her feel like a winner, and she was grilled quite extensively by the judges during her interviewing process.
"I learnt that it was important to know your story. You should know your business inside and out, your weaknesses and strengths, and be able to identify opportunities," Cokoto said.
Her R1-million in prizes were sponsored by the Black Business Supplier Development Programme of the Department of Trade and Industry, Seda's Technology Transfer Fund as well as Saab Grintek Defence & Security.
She also received a three-year enterprise development contract, a one-year executive mentorship opportunity and a laptop.
In addition, Cokoto will accompany Small Business Development Deputy Minister Elizabeth Thabeth on a paid trip to Brazil in June next year to attend the 2015 Global Women's Summit. - Cindy Preller
