African German Entrepreneurship Academy (AGEA) Business Idea Competition 2021 (€1,000 prize)

African German Entrepreneurship Academy (AGEA) Business Idea Competition 2021 (€1,000 prize)

Deadline: October 31, 2021

Are you a student (Masters or PhD), researcher or academic staff (lecturer, professor) at a University, Research Institution or a Higher Educational Institution (HEI) in Africa? Do you have interesting and innovative research results that can be transformed into a commercially viable business start- up? Apply for the AGEA Business Idea Competition 2021 and stand a chance to win the top prize and receive expert support to build a business start-up.

AGEA organises the annual Business Idea Competition to reach out, identify and support innovative and entrepreneurial solutions for Africa by African students, entrepreneurs and researchers within its network and beyond. The focus of the competition this year is on generating entrepreneurial and commercially viable solutions stemming from research at African universities that can develop into spin-off start-ups/companies.

Prizes

The Top 3 ideas will receive the following prizes:

  • First Prize – €1,000
  • Second Prize – €500
  • Third Prize – €300
  • Audience Award – €500

Eligibility

Interested persons from universities, research institutions and other HEIs in Africa can participate in the competition. Eligible participants must be:

  • Students (Masters and PhD) 
  • Academic staff (lecturers, professors) and researchers
  • Early-stage entrepreneurs (university alumni – Bachelors, Masters or Doctorate)

You can participate in the competition as an individual or a team of a maximum of three (3) members. If you apply as a team, each member must be eligible for the competition.

Evaluation Criteria

Each idea will be assessed by three (3) evaluators based on the following criteria: 

  • RelevanceHow relevant is the problem being solved by the idea for the specified target group? How significant is the idea for the targeted market?
  • FeasibilityCan the idea be realistically transformed into a product or service? Is the right technology available to ensure the realisation of the idea?
  • Market Availability: How attractive is the solution for potential customers in comparison to existing solutions? 
  • Commercial Viability and Sustainability:  How high is the potential for success on the market? Can the product be easily marketed to the proposed customers at a competitive price? Can the idea be implemented in a sustainable way to generate adequate revenue?
  • Impact: To what extent can the solution impact society – economically, socially and/or environmentally? 

Application

To join the competition, eligible individuals and teams are required to register their participation as an individual or team: You will be required to provide brief information about the participants in a short online form.

You will receive an email with further instructions on the next step to provide more information on your idea on the Innolytics Platform.

Click here to apply

For more information, visit AGEA.

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