What: MTN Entrepreneurship Challenge Powered by Jumia
Send your application to the MTN Entrepreneurship Challenge by Jumia and get your business idea rewarded.
MTN Entrepreneurship Challenge 2016 invites African entrepreneurs to apply for its business ideas contest. The Pan-African challenge is powered by, online retailer, Jumia.
Entrepreneurs will have an opportunity to be mentored and network with early stage investors, business professionals and successful entrepreneurs.
It is open to teams of entrepreneurs across the continent. The teams must comprise 2-3 individuals; atleast one having enrolled or recently graduated from an African university. They will compete for USD $ 75000 in prizes. This includes investments, cash and in-kind rewards. The aforementioned mentors will review the proposals.
The review team will be evaluating applications according to four main areas. The general assessment scheme can be found below:
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)
Fit to African Market (external analysis)
Macro Trends – Environment
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 suggested innovation)
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)
Design (Appropriate use of audio & visuals)
Apart from cash, there will also be a trip to Cape Town for the 3 finalist teams. The 3 will present their proposals at the MTN Entrepreneurship Challenge powered by Jumia Festival in May 2016. The top team will be getting an opportunity for incubation at MTN Solution Space in Cape Town or one of Jumia’s 9 offices across Africa.