Startup Open is a global competition that is open to entrepreneurs from any industry with a new business that has yet to raise any outside capital from angel investors, venture capital firms or other formal sources of seed funding.
Rules
- All applications must be submitted in English
- Applications will only be accepted online through the Startup Compete platform or through an officially approved National Competition.
- It is not required that a startup be incorporated, but a company cannot be incorporated over 18 months to compete.
- You must be starting a for-profit company, or a non-profit that does not rely on grants .
- Your startup must be pre-money, no venture funding, at time of application
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Eligibile startups
- YES Stand-up phase when individuals or groups are equipped with the entrepreneurial attitudes and skills to attempt the creation of new company.
- YES Start-up phase when resources are mobilised and regulatory requirements fulfilled to start a new company.
- NO Scale-up phase when successful companies expand their businesses to new markets or in innovative ways.
- NO Exit phase when a business owner or an investor decides to cash out an investment made in the past through trade sale or merger with a larger player in the industry (merger and acquisitions), secondary sales to third parties or initial public offerings (IPOs).
The winners will be selected by a panel of judges who are looking at a range of criteria including growth potential, passion, creativity, level of idea development, and their pitching skills. Each judge’s score is weighed equally.
Prizes
- One winner of Startup Open receives an all expenses paid trip to Johannesburg, South Africa where they will receive VIP delegate credentials to the Global Entrepreneurship Congress in March 2017.
- In addition to the Grand Prize GEC experience, all 10 finalists gain a spot in GEN Starters Club , with additional chances there to travel to Johannesburg for GEC 2016.
Deadline for applications is 30th September, 2016. Start applying today.