Innovation City, in collaboration with Absa and PayFast Buy Network, hosted the 2026 Startup of the Year Awards, celebrating the growth, innovation and global expansion of South African startups.
The event took the form of a high-energy pitch competition. still GoodA startup focused on reducing food waste by connecting consumers to discounted surplus and sell-by-date products through a technology-enabled platform that connects retailers to consumers in real-time was crowned Startup of the Year.
“It was a privilege to serve as a judge and join the top 10 startups. At Absa, we believe in supporting small businesses, which are key drivers of economic growth and job creation in South Africa. What stood out at these awards was the level of innovation, and how effectively these startups are turning ideas into practical solutions that address real challenges facing customers, businesses and communities. Many of these finalists are looking to expand their impact and reach. “We are thoughtfully leveraging technology to achieve this,” says head of strategy Tamu Dutuma. Absa Africa Region Transition to Technology.
Small and medium-sized enterprises play an important role in the economy, supporting contributes about 60% of employment and about 34% of GDP. These figures underline their importance to economic activity and job creation, reinforcing the need for platforms that support and showcase emerging businesses.
Since launching in 2022, Innovation City's Startup of the Year Competition has grown into a respected platform that supports early-stage, high-potential businesses in rising from emerging players to recognized industry leaders. Finalists are selected based on rigorous criteria including team strength, market feasibility and demonstrated revenue traction, and are given the opportunity to join a panel of investors, corporates and ecosystem enablers.
“Startup of the Year is designed to unlock meaningful opportunities for founders by connecting them to the right networks, capital and expertise,” says Michelle Kleu, CEO of Innovation City. “We are excited to have partners like Absa and PayFast on board this year. In addition to the event, we hope this platform will continue to grow into something more permanent, where startups can access meaningful networks, and get the support and exposure they need to grow their businesses.”
As the winner, Still Good received multiple prizes worth over R500,000 and the opportunity to work with a UX design and brand agency to help strengthen the company's customer experience, brand positioning and overall market presence. The prize includes access to Innovation City's unique Kloof Street workspace, as well as access to its wider community, including curated business events and networking opportunities.
“Building a startup is hard, building a business is hard, you lose more than you win. The key is just to make sure that your wins and your magnitude outweigh your cumulative losses. Winning Startup of the Year is a great recognition for what we do; it helps us move forward and keep building,” says Stephen Burrows, Still Good CEO.
“The caliber of startups in this year’s cohort reflects the strength and momentum of South Africa’s innovation landscape,” says Grant Carter, CIO of PayFast Buy Network. “We congratulate all the finalists for their innovation, resilience and ambition to build and grow their businesses.”
As the ecosystem evolves, collaboration between partners will continue to be the key to unlocking scale, enabling startups to not only grow locally, but also compete and succeed on the global stage.