infoDev at the World Bank and CRDF Global are announcing VentureOut, a new initiative to propel expansion-ready mobile entrepreneurs into enticing international markets.
Top mobile app entrepreneurs from 31 countries will compete in the VentureOut Challenge to enter the Dragon’s Den in Chisinau, Moldova during an international mobile meeting organized by infoDev of the World Bank.
The goal: Internationalization of their mobile applications — entering new countries, continents or going global with their amazing apps.
Stakes are high: $10,000 seed funding; Mentorship with international and regional mobile experts; Dragon’s Den exposition in Chisinau, Moldova; and TechCrunch Disrupt Europe Scholarship to Berlin.
The VentureOut Challenge will run from August to November 2013 and help hundreds of entrepreneurs through hands-on training, virtual learning opportunities, mentorship, international exposure, and seed funding. Entrepreneurs will come from 31 countries from the entrepreneurial ecosystems developed by six local technology community partners located in six countries: Armenia, Kenya, Macedonia, Nigeria, Senegal, and South Africa.
This program also identifies advanced entrepreneurs during the VentureOut Challenge mobile app competition – applications accepted between August 9 and September 2, 2013. The top 9 entrepreneurs from the competition will meet in Moldova this October 30-31, 2013 for the Dragon’s Den, a pitching exposition to compete for $10,000 in seed funding. Thanks to a great partnership with TechCrunch, one selected VentureOut entrepreneur will also be attending TechCrunch’s Disrupt Europe event in Berlin this October 26-29, 2013.
Kenya:
mLab East Africa, www.mlab.co.ke
John, john@mlab.co.ke
Serving: Kenya, Rwanda, Tanzania and Uganda.
Nigeria:
CC Hub Nigeria, www.cchubnigeria.com
Tunji Eleso, tunji@cchubnigeria.com
Serving: Nigeria
Senegal:
CTIC Dakar, www.cticdakar.com
Yann LeBeux, yann.lebeux@cticdakar.com
Serving: Senegal
South Africa:
mLab South Africa,www. mlab.co.za
Derrick Kotze, derrick@mlab.co.za
Serving: South Africa
Scope of VentureOut Mobile App Competition
The Competition is designed to encourage mobile app entrepreneurs to internationalize; i.e. to expand their apps into new geographies through:
- Training and mentorship with successful entrepreneurs, angel investors, and venture capitalists
- Networking opportunities
- Seed funding
The application, consisting of a Mobile App Internationalization Summary. This summary is directed to investors will be reviewed by judges who are experts within the entrepreneurship ecosystem. The judges will select the top 18 semi-finalist entrepreneurs.
All 18 entrepreneurs will then create a PowerPoint presentation (template presentation provided here) which judges will review, allowing them to select the 9 finalists. The top 9 will then receive mentorship throughout October, be invited to the workshop, pitch session, and award ceremony in Chisinau, Moldova on October 30-21, 2013.
The finalists will be judged by experts to determine the winners. One competition winner from each continent will receive a grant of $10,000.
Venture Out Challenge Eligibility Criteria
Competition applicants must meet all of the following criteria to be eligible to participate in the 2013 Competition:
1) Application must be written in English.
2) All members of a team can only enter the competition once with one submission.
3) Each team must select a member who will be the applicant for the team in this competition. This member does not have to occupy a particular position on the team, i.e. CEO. That member is hereafter referred to as the applicant.
4) The applicant must be affiliated with local partner organizations (listed above) and residents or citizens of Albania, Armenia, Azerbaijan, Belarus, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Georgia, Hungary, Kazakhstan, Kenya, Kosovo, Kyrgyzstan, Macedonia, Moldova, Montenegro,Nigeria, Poland, Romania, Rwanda Senegal, Serbia, Slovakia, Slovenia, South Africa, Tajikistan, Tanzania, Turkmenistan, Uganda, Ukraine or Uzbekistan.
5) Each mobile app must meet this criteria:
- Venture is for-profit and less than three years old from date of launching startup
- Entrepreneur is interested in expanding their app into new geographies in the future
- Product or service is currently in a user testing stage, pilot stage, or available on the market
- Venture is either self-funded or has external financing (either from public or private sources)
- Mobile app ventures can be B2C, i.e. targeted towards retail distribution, for use on individual handsets; or B2B, i.e. enterprise solutions powered by or using or enhancing mobile technology.
6) The applicant must be at least 18 years old and able to both read and speak English proficiently.
7) The applicant should be ready and available to present her/his technology idea or startup during trainings and business pitch presentations in Chisinau, Moldova on October 30-31, 2013.
8) The applicant must hold a valid passport and be eligible to travel to Chisinau, Moldova to participate in the workshop and pitch session if selected as a finalist. (Visas will be obtained by finalists).
9) All awards will be granted to the applicant only.
10) Applications that fall under the following categories will not be accepted:
- apps with no demonstrable commercial potential
- apps based on charity or foundation (not-for-profit) organizations
- apps that are not yet functional or existent (apps have to be beyond the idea stage)
Application Instructions
In order to participate in the competition, eligible applicants must submit an application online that consists of a Mobile App Internationalization Summary to
https://www.younoodle.com/podium/er/VentureOut_Challenge_2013/enter
The content of this application should demonstrate viability of the mobile app, market potential, and strategy to raise funding, generate revenue, and enter new geographic markets.
The Mobile App Internationalization Summary will be completed online, not exceed 1,000 words, and must be written in English. It should include the information outlined below. In addition to the 1,000 words, applicants are encouraged to include visuals, such as tables, graphs, and/or photos, to convey additional information or to complement the narrative portion of the Mobile App Internationalization Summary.
For More Information:
Download the VentureOut Challenge Mobile App Competition Application Guideline