Africa has witnessed inspiring entrepreneurial success stories in the recent past, but for its future to be secure, we need to bring forward and energize the next generation. The continent is the final frontier for the maverick entrepreneur and through this competition,we aim to find, promote, support and connect these innovative, driven change makers.
Do you have an idea that is original and scalable and that solves an important problem for the continent’s inhabitants and stakeholders? We want to hear it!
Enter the African Solutions Business Plan Competition 2013. Here’s how:
Eligibility
Submissions must be received by 11.59 p.m. E.S.T on the 26th of February 2013.
Eligible submissions must clearly demonstrate:
Potential for direct and substantial commercial and/or social impact in Africa
Feasibility of implementation within any African market
Please note that ventures with up to $50,000 in funding will not be eligible for this
competition.
Submission Details
The submissions, which must be in PDF format, should include a 2 page executive
summary and up to two supporting exhibits describing their business. Submissions will be evaluated on the level of innovation, potential for impact, practicality and sustainability.
Successful submissions will include the following:
A description of the business model; the problem and the solution
Target market and size of the opportunity
Plans for sustainability; financial and otherwise
A description of the management team and their relevant skills/experience
Scalability of the model
To make a submission please click here
Evaluation Process
Round 1:
All submissions are reviewed by a preliminary panel of judges. All participating teams will receive detailed feedback on their submissions and/or ideas.
Round 2:
Finalists selected in round 1 will be notified and provided free coaching, should they wish to revise and resubmit before the final round.
On March 16th, during this year’s conference, all finalists will deliver a 3-minute pitch to the panel of judges and other guests. This will be followed by a brief Q&A
session.
Judges will deliberate briefly and decide prizes as follows: Grand Prize (Winner);
Gold Award and the Bronze Award. The conference guests will decide the
Audience Favorite Award. Nominal cash prizes will be handed out.
Key dates:
February 26th: Submissions due | March 3rd: Finalists notified | March 6th-9th: Finalist
Coaching | March 12th: Finalist business plans due | March 16th: Conference, live pitches and Awards
For more information and enquiries, please contact Obi Igwe atobi_igwe@mit.edu
Apply Now for the African Solution Business Plan Competition 2013
