MTN, in partnership with the MTN Solution Space and Jumia, are proud to announce the launch of the MTN Entrepreneurship Challenge powered by Jumia.
The challenge is expected to bring together over 1000 entrepreneurs, students and investors, to collaborate on ways to amplify and consolidate the continent’s entrepreneurs. Targeting more than 60 universities in 13 countries across Africa, the competition will challenge students to develop a unique digital application or smart solution that will solve a tangible problem faced on the continent.
Applications for the first round of the multi-phased competition are open from today and will close on 27 March 2016. All applications will be judged by campus captains, who consist of successful entrepreneurs in their respective market. Shortlisted teams will then move on to a live pitching phase at their selected universities between 1-8 April 2016, after which the final five projects will be selected to move through to the Semi-Final.
The finalists will be announced on 16 April 2016, and as part of this achievement, the successful teams will get the opportunity to attend the Entrepreneurship festival, hosted at the University of Cape Town Graduate School of Business in South Africa on May 27 2016. The festival, aims to facilitate the collaboration of over a thousand attendees with prominent and innovative speakers and workshop experts from across the world. Finalists will have to pitch their business to a room of successful entrepreneurs, business leaders, judges, investors and international media, after which the winner of the challenge will be announced.
The winner of the MTN Entrepreneurship Challenge powered by Jumia will win a cash prize of US $25 000 towards their start-up, and will also benefit from a yearlong partnership with Jumia, where they will have the opportunity to work from any of JUMIA’s offices across Africa. This will enable the winner to learn from, and be mentored by experienced and successful entrepreneurs in the JUMIA network. The winner will also have access to a Facebook Start Program to the value of US $15 000, which includes tools and services needed to build mobile applications. In addition, they will have the opportunity to work from the MTN Solution Space at the University of Cape Town’s Graduate School of Business. The two runners-up will each receive US $5 000 towards their projects.
Teams may be comprised of 2 or 3 individuals with at least one member currently enrolled at in an African university or a recent graduate (Academic year 2014 – 2015 or 2015 – 2016) of an African university.
The review team will evaluate applications according to four main areas, and participating teams should make sure that their business plans will: fit to African market, be operationally feasible, be innovative and contain relevant financials.
The general assessment scheme goes thus:
1. Formal Requirements
- Executive Summary (2pages)
- Financial Statement (proforma, basic information)
- In Line with the Subject
- Need Identification (You must Clearly state a problem, which you are hoping to solve)
- Solution (Well-defined solution as an answer to previously identified problem)
- Monetization (You should illustrate your pathway to monetizing the proposed solution)
- a. Fit to African Market (external analysis)
- Macro Trends – Environment
- Competitive Landscape
- b. Operational Feasibility (internal analysis)
- Internal Competencies
- Management Team
- c. Innovativeness
- Novelty Aspect (Clear proposition of breakthrough innovation)
- Added Value (Presentation of a clear path to tangible value creation to customers thanks to suggested innovation)
- Societal Impact (strategy and operations aligned for responsible and sustainable business)
- d. Financials
- Income Sources (Identification of a way, in which a business is going to generate money)
- Investment Ask (Accurate identification of financial needs & plan of utilizing potential funds)
- Time Management
- Design (Appropriate use of audio & visuals)
Please note that the Application, Executive Summary and Video Pitch (optional, but highly encouraged) must be completed no later than 23:59 pm GMT, Sunday, March 27, 2016.
To apply, click here
Source : http://smeconnectnigeria.com/hot-news-for-start-ups-mtn-and-jumia-partners-to-launch-mtn-enterprise-challenge/