New Venture Competition – Wharton Africa Business Forum 2018 (Win $10,000 grand prize)
Deadline: October 14, 2018
Apply now for the Annual Venture Competition – Wharton Africa Business Forum and win $10,000 grand prize. If your innovation is solving challenges and driving a positive impact in Africa, this is a competition you need. It is organized by The Wharton School, The University of Pennsylvania, and the student organizers of the 26th Annual Wharton Africa Business Forum (WABF).
At WABF26, they aim to connect promising early-stage African entrepreneurs to a powerful network of investors, mentors, and coaches to accelerate their growth, and provide them with resources they can use to develop into regional powerhouses. The competition is open to all entrepreneurs with businesses that are using innovation to solve Africa’s challenges and make a positive impact on the continent.
Entrepreneurs can apply for the chance to pitch to a panel of expert judges who will determine the winner of the $10,000 grand prize.
Finalists will gain access to resources that will accelerate their venture’s growth including a powerful network of investors, mentors, and coaches.
The competition is open to all entrepreneurs with businesses that are using innovation to solve some of the continent’s toughest challenges. Entrepreneurs who meet the following criteria are encouraged to apply:
- Businesses focused on serving the African continent (does not necessarily need to be headquartered in Africa)
- For-profit business models (however your business does not need to be making profits yet!)
- Early-stage business with less than 50 employees and less than 4 years in operation
- Raised less than $200,000 in funding for the business
Each business will be judged on its commercial viability and potential for impact through 4 key pillars:
- The team and their expertise
- The market opportunity and the executable plan to generate profits
- The validation of key hypotheses
- The identification of risks and the plans for mitigation
Teams that have a proven product, have recruited stakeholders (employees or investors) and/or have customers are likely to score well. However, we also encourage those entrepreneurs who may not necessarily have launched their business, but who have validated their hypothesis and have the skills to execute, to apply.
Contestants will submit an application outlining their start-up or idea, and they will select finalists to pitch to an experienced panel of judges and the audience at the conference on Friday, November 2, 2018.
- From the pool of applications, 8 finalists will be invited to pitch their business to a panel of expert judges who will determine the Winner of the $10,000 grand prize.
- The finalists will also have the opportunity to participate in workshops and seminars hosted by our judges and Wharton faculty in the run-up to the final event (final schedule to be announced). You can expect to receive training in business plan writing and public speaking as well as specific feedback and advise on your key business challenges.
For more information, visit Venture Competition.