Entrepreneurship

Afro YoUcan Business Plan Competition 

Business plan competition: The main goal of this competition is to enable young minds the ability to come up with a great business plan that is implementable and beneficial to Africa. A reasonable amount would be awarded to allow them to carry out their plan and give back to their respective countries shortly. These scholarship programs would involve students who are currently in school, any field of study, as long as they have a business plan they hope to implement in Africa in the next year or two. These students would submit their concept papers, attend competition related workshops provided by GK Folks Foundation, and submit their financial business pitch. The competition cumulates in the final presentation and award ceremony, where a cash amount would be awarded to the Winner to be able to start up their business. The Foundation will also connect winners with potential investors to support the long term success of their business plan. 

PRIZE: Cash prizes and an opportunity to share your idea with and be connected with investors, entrepreneurs, and educational thought leaders
Eligibility

  • Must be  within the ages of 18 through 40
  • The business plan must be implementable in Africa in the next two years.
  • Any individual is eligible to enter the competition by submitting an Entry (defined below), except the following individuals are not eligible:
  • An Individual or group can participate.

Requirements

  • There are no fees to apply or to compete. 
  • Once an application is submitted, no changes can be made.   
  • One member of your startup, the designated leader, should complete the simple online application. The application consists of answering a short survey, attaching an A business plan (maximum five pages), and an optional Video Elevator Pitch (full 2 minutes).
  • Startups should fall into one of four categories or sectors: 
  • Energy/Clean Technology (including but not limited to): Sustainability, Water, Battery Technologies, Control Systems, Smart Metering, PV Technology, Natural Gas, Transportation/Mobility, Oil & Gas Technologies, Algae, Fuel Cells, Hybrid Vehicles 
  • Tech (including but not limited to): Mobile Apps/Software, Digital Media, Consumer Web, B2B Applications, Enterprise Software, SAAS, Web, Virtual Reality, Big Data, Machine Learning, Artificial Intelligence, Drones, Hardware, Robotics, Drones, Internet, IoT 
  • Life Sciences (including but not limited to): Medical Devices, Diagnostics, Digital Health, Health IT, Biotech, Therapeutics 
  • Other Innovations (including but not limited to): Advanced Materials, Composites, Nanotechnology, Consumer, Other Technology  

JUDGING Round 1: Video Pitch and Business Concept Round Judging Criteria

  • The judges will use the following evaluation criteria when reviewing the Business Concept and Strategy Round:
  • Was a detailed explanation of the business idea and value proposition provided?
  • Was the justification of market potential included?
  • Was the proposition to investors presented?
  • Does the information provide entice the audience to want to know more about the business?

JUDGING Round 2: Final Presentation Round  Judging Criteria

During the final presentation round, each team gives a refined seven-minute PowerPoint presentation followed by eight minutes of questions from the judges. The judges score the teams in the following categories:

  • The value created by the new product/services.
  • The attractiveness of the market opportunity.
  • The competitive advantage of the proposed venture.
  • Operational and technical viability.
  • The capability of the management team.
  • Capital requirements and financial forecast.
  • Exit strategy.
  • Strength of the oratory and PowerPoint presentation.

The judges will deliberate after the Final Presentation Round. Applications open Oct 1, 2020, through Dec 15, at 11:59 PM MST.

Important dates:

  • Jan 2021 Finalist announced 
  • Feb 2021 Invited teams confirm commitment to compete via written confirmation on the application, and last day to last day to withdraw without penalty.
  • April  2020: Judges  Interview/ Award ceremony

 

  1. E-commerce Entrepreneurship competition: With the rate at which every business is

having to go online to succeed, we would want to be able to push for this E-commerce in Africa as well. The most notable aspect of e-commerce is its ability to impact sales and marketing efforts immediately. This competition would reward the student that can come up with an E-commerce plan to be a successful entrepreneur and give back to their respective African countries. This competition would involve writing a business plan for an eCommerce Entrepreneur idea that is implementable in Africa. Hence a lot of research and time would be put into developing this business plan.
PRIZE: Cash prizes and an opportunity to share your idea with and be connected with investors, entrepreneurs, and educational thought leaders
Eligibility

  • Must be  within the ages of 18 through 40
  • Ecommerce Business plan must be implementable in Africa in the next two years.
  • Any individual is eligible to enter the competition by submitting an Entry (defined below), except the following individuals are not eligible:
  • An Individual or group can participate.

Requirements

  • There are no fees to apply or to compete. 
  • Once an application is submitted, no changes can be made.   
  • One member of your startup, the designated leader, should complete the simple online application. The application consists of answering a short survey, attaching an A business plan (maximum five pages), and an optional Video Elevator Pitch (full 2 minutes).
  • Startups should fall into E-commerce 

JUDGING Round 1: Video Pitch and Business Concept Round Judging Criteria

  • The judges will use the following evaluation criteria when reviewing the E-commerce  Business Concept and Strategy Round:
  • Was a detailed explanation of the business idea and value proposition provided?
  • Was the justification of market potential included?
  • Was the proposition to investors presented?
  • Does the information provide entice the audience to want to know more about the business?

 

JUDGING Round 2: Final Presentation Round  Judging Criteria

During the final presentation round, each team gives a refined seven-minute PowerPoint presentation followed by eight minutes of questions from the judges. The judges score the teams in the following categories:

  • The value created by the new product/services.
  • The attractiveness of the market opportunity.
  • The competitive advantage of the proposed venture.
  • Operational and technical viability.
  • The capability of the management team.
  • Capital requirements and financial forecast.
  • Exit strategy.
  • Strength of the oratory and PowerPoint presentation.

The judges will deliberate after the Final Presentation Round. Applications open Oct 1, 2020, through Dec 15, at 11:59 PM MST. Important dates:

  • Jan 2021 Finalist announced 
  • Feb 2021 Invited teams confirm commitment to compete via written confirmation on the application, and last day to last day to withdraw without penalty.
  • April  2020: Judges  Interview/ Award ceremony