Deadline: March 27, 2016 at 23:59 GMT | Apply here
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Date: May 27, 2016
Eligibility: Teams 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
Prize: over $75,000 in prizes, including investment, cash, and in-kind awards
Location: Cape Town, South Africa
Are you an entrepreneur? Do you have a business idea? Apply to The MTN Entrepreneurship Challenge by Jumia, a competition giving teams the opportunity to win over $75,000 in prizes, including investment, cash, and in-kind awards. Teams will also have the opportunity to meet and network with early stage investors, experienced business professionals and successful entrepreneurs who will serve as judges for the competition.
The MTN Entrepreneurship Challenge 2016
The MTN Entrepreneurship Challenge powered by Jumia was born out of the desire to contribute to building a stronger and more sustainable business environment in Africa and to boost the entrepreneurial spirit of Africa.
It is a Pan-African challenge and invites teams from across the continent to compete for over $75 000 in prizes, including investment, cash and in-kind awards. Teams will have the opportunity to meet and network with early stage investors, experienced business professionals and successful entrepreneurs who will serve as judges.
Reflecting both the MTN Solution Space’s and Jumia’s passion for responsible e-business, the focus will be on sustainable and responsible digital solutions for the African market. The main criteria that will be evaluated are: Fit to African Market; Operational Feasibility; Innovation and Financials.
There will be cash prizes for the 3 finalist teams, as well as a trip to Cape Town, South Africa to present at the MTN Entrepreneurship Challenge powered by Jumia Festival in May 2016. The winners will be announced at the festival with the top team being awarded the opportunity for incubation at the premises of either MTN Solution Space in Cape Town, or at one of 9 Jumia offices across the continent.
Africa is moving faster and further into the digital age and smart and easy digital solutions are becoming more relevant and more vital. A pure internet-based solution is therefore the primary criterion for this challenge. Below are examples of relevant areas of interest:
- E-commerce marketplaces
- Online classifieds
- Lifestyle marketplaces
- Online collaborative solutions
- Education technology
- Financial technology
- Health technology
- SmartCities and solutions
Rules & Requirements:
1) Teams must be comprised of 2-3 members, at least one of which must be a current student or recent graduate of an African university.
2) Entrants cannot be part of more than one team.
3) Only one business plan can be submitted per team.
4) Business projects can only be submitted in either English or French.
5) The business project must be focused around online-based solutions and must be relevant to the African market. Criteria consist of: Fit to African Market; Operational Feasibility; Innovation and Financials.
6) Projects must consist of 2 elements: Executive Summary (2 pages including SWOT analysis) and Financial Statement (pro forma – Income Statement).
7) All ideas must be original and plagiarised entries will not be considered.
8) Finalists must be free and willing to travel to Cape Town, South Africa for the Entrepreneurship Festival from 26 – 28 May 2016.
9) MTN Solution Space and Jumia ensure the strict protection of Intellectual Property Rights and sensitive details f your innovation will be kept confidential. Everyone involved in the MTN Entrepreneurship Challenge powered by Jumia selection process is bound by a MTN Solution Space/Jumia andMTN Entrepreneurship Challenge Non-Disclosure agreement requiring them to keep all information confidential.
10) Failure to obey any of the rules or requirements listed above can result in automatic disqualification with no possibility for further participation in the future editions of the MTN Entrepreneurship Challenge powered by Jumia.
- All applications must be complete and include both Executive Summary (2 pages including SWOT Analysis) and a Financial Statement.
- Applications must be in French or English only.
- Applications must reflect the evaluation criteria and be in line with the subject.
If you have any questions that are not answered here please read the FAQ page.