MTN/Jumia Entrepreneurship Pan-African Challenge 2016 for Entrepreneurs – For those who are highly skilled in entrepreneurship, and fir those who do have a business idea can now Apply for the MTN Entrepreneurship Challenge by Jumia, a competition giving winners the opportunity to win over $75,000 in prizes, including investment, cash, and in-kind awards. The Teams will also have the rare opportunity to meet and network with early stage investors, those who are experienced business professionals and successful entrepreneurs who will serve as judges for the competition.
The MTN Entrepreneurship Challenge powered by Jumia was was actually an idea born out of the desire which aims to contribute to building a stronger and more sustainable business environs in Africa and as well as to boost the entrepreneurial spirit of Africa. According to the sponsors, The Pan-African competition is aiming to bringing together over 1000 entrepreneurs, students and investors, who will collaborate on different ways to amplify and consolidate the continent’s entrepreneurs. The Pan-African competition Targets more than 60 universities in 13 countries across Africa, the competition will challenge students that will develop a special digital application or better still a smart solution that will solve a tangible problem faced on the continent.
The Teams will 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 evaluation of applications will be reviewed on four main areas. (which are underpinned with more specific criteria). Specially all the participating teams should ensure that their business plans fits into the following. The African market, be operationally feasible, be innovative and contain relevant financials.
The general assessment scheme can be found below:
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 topreviously identified problem)
Monetization (You should illustrate your pathway to monetizing the proposed solution)
a. Fit to African Market (external analysis) Macro Trends – Environment
b. Operational Feasibility (internal analysis)
Novelty Aspect (Clear proposition of breakthrough innovation)
Added Value (Presentation of a clear path to tangible value creation to customers thanks to
Societal Impact (strategy and operations aligned for responsible and sustainable business)
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)
a. Time Management
b. Design (Appropriate use of audio & visuals)
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 continen
MTN Solution Space:
Winners will receive incubation from the MTN Solution Space for 3 months with access to resources, networks and facilities. This includes the option to extend for an additional 9 months based on key milestones agreed.
Opportunity to work from one of Jumia’s offices across Africa in the following cities: Cairo, Egypt;
Accra, Ghana; Nairobi, Kenya; Casablanca, Morocco; Lagos, Nigeria; Dakar, Senegal, Kigali, Rwanda and Dar Es Salaam, Tanzania.
GetSmarter, South Africa’s top online learning institution, will be awarding the top 20 students a
UCT or UCT GSB online short course.
Benefit from the Facebook Start Program and receive up to $15,000 worth of tools and services
needed to build your mobile application.
Application Opens: February 15th 2016
Application Deadline: March 27th 2016
Campus Presentation, Live Pitches: April 1st – 8th 2016
Finalists Announced: April 16th 2016
Entrepreneurship Festival: May 27th 2016
How to Submit your Idea:
All applicants should take 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.
Apply Now for the MTN Entrepreneurship Challenge by clicking here
MTN/Jumia Entrepreneurship Pan-African Challenge 2016