Harvard’s Africa Business Club is set to host the New Venture Competition as part of the 24th Africa Business Conference.
The New Venture competition seeks to highlight the diversity of entrepreneurs who are making a difference on the African continent today.
The contest aims to assess the commercial merit of each proposed new venture and the likelihood of success.
While early-stage ideas that have been thought/tested will be considered based on their standalone potential and the team’s ability to execute, teams that have proven technology or have obtained ‘beta’ consumers may increase their chances of success. success.
Competition Eligibility: African entrepreneurs with startups focused on reshaping the future of Africa with distinctive and indigenous solutions are eligible:
- Early-stage startups (for-profit or not-for-profit)
- Africa-focused startup with most or all of its operations in Africa
- Less than 50 employees
- Less than 5 years of operations
- Raised less than $250,000 in funding to date
Selection criteria: Judges will assess the economic potential of the business and the likelihood of success based on the team plan, experience, validation of key assumptions, and a clear and compelling presentation of the following:
- Value proposition and business model (including market validation of the value proposition/growth hypothesis)
- Team experience and ability to execute.
- Market opportunity
- Geopolitical and industrial context
- Potential and mitigating risks
- Realistic assumptions underlying any financial projections
- Defined milestones and execution plan
Value of the prizes:
- The competition winner, runner-up and third place will receive cash prizes of $30,000, $15,000 and $10,000, respectively.
- Shortlisted participants will be able to showcase their companies at the Startup Fair to network and interact with distinguished panelists and conference attendees.
How to apply: Please complete the application form here to enter your company information. Application Deadline: January 2, 2023 at 5 pm EST.
… You could win $30,000 by entering Harvard’s New Venture competition Read more at… Naijaonpoint.