[Startup Interview] Jonathan Kgatshe, CEO Myteksonic, South Africa
Myteksonic a South African digital technology solutions company is tapping into the growing internet of things buzz to introduce world class smart technologies to South African companies and homes through a unique international shipping model.
Its product portfolio include audio, visual, photography and smart home solutions. Jonathan Kgatshe, the CEO and founder of the startup talked to Africa Business Communities about the business landscape and the ambitions of scaling the company.
Give us a brief about your company
Myteksonic is a Digital Technology Solutions company with a set focus on 4 categories - Audio Visual, Environmental Monitoring, Photography and Smart Home Solutions. The company will be 5 years old in August 2018. We are sole distributors of NTI products from the USA to 9 Southern African countries.
Where is it located?
We are located in Cosmo City, Roodepoort, Johannesburg, South Africa
When was the company founded and why?
The company was founded in August 2013 to offer specialized Audio-Visual products to a wider range of people and companies in our region. On top of that we pride ourselves on being transparent and efficient. Every one of our clients big or small are extremely important to us.
How is the company funded?
The company is 100 per cent self-funded by the owner, Jonathan Kgatshe.
What are your company’s unique selling points?
We offer excellent services to all our customers, with high levels of aftersales services. We are able to provide the latest up to date solutions in the Pro-Audio Visual industry specializing in Signal Distribution, Video Walls, & Digital Signage.
Generally these solutions are quite expensive hence we offer a full suite of Electronic and Environmental monitoring solutions that can alert, log & monitor several conditions in return preventing expensive damage and loss of equipment.
How has the market responded to your products?
The market has responded well. Although the core of the business does rely heavily on exchange rate, Myteksonic has weathered some tough economic climates and is still standing today having positioned itself to constantly upgrade product/solution offering to better service our growing client base.
Who are your clients?
Kaylan Automation, Moore Process & Controls, Sepels Sportsbet, Logical Link, Thimo & Sons Guesthouse, OptoNamibia, Forgotten Angle production company among others. We also cater to retail clients.
What are the changes your company has gone through since inception and what do they mean to the business?
Initially we started out as offering IT & Pro-AV services but we have since moved away from the IT sector focusing more on the Audio Visual industry and IOT with a our Smart Home Solutions and recently high quality Photography.
Have you had/or are you planning any strategic partnerships?
In the past we have had a strategic partnership that was aimed at improving and accelerating growth for us, the partnership has since been terminated amicably as conditions no longer favored this partnership.
How is competition in your industry and how do you weather it?
Our competition is strong and many times we come up against very large corporate organizations, we have stayed true to our vision of where we are going. This has certainly helped us to never over or under compete. I believe our products & solutions are cutting edge and well-priced hence the high client retention rate.
The fact that we offer bespoke tailor made solutions has also helped us in staying ahead of some competition. Having said that competition is healthy as it keeps companies dynamic and forces them to continually innovate which in the end benefits the customer.
What can be expected of your company in 2018?
2018 started well for us in the first quarter, as we steadily stabilize in the second quarter, we will continually be adding more precise and better products to our range to improve our solutions while keeping costs as low as possible. We have also added Photography to our core offerings.
What does your company need to grow and prosper?
Access to markets, more especially in some of the SADC countries like Zambia, Angola & Botswana. We carry official rights for all NTI equipment for South Africa, Angola, Botswana, Lesotho, Mozambique, Namibia, Swaziland, Zimbabwe and Zambia.
What is the latest news?
The latest news is the addition of our new offering Location Photography which is aimed at Personal or Lifestyle and Corporate photography in different scenic locations.
Some other news is the availability of our new Smart Home products and Solutions that offer some serious but affordable technological advancements when it comes to home monitoring and energy efficient lighting.
Who should contact your company and why?
Anyone who has an Audio Visual or Environmental Monitoring problem, who is looking for an effective tailor made solution. We also encourage individuals that require personalized photography services or looking to add some technology into the operations of their homes. Many of our customers are individuals in the general public.