You Stand A Chance To Win $30,000 In This Harvard Competition

Harvard’s Africa Business Club is set to host the New Venture Competition as part of the 24th Africa Business Conference.

The competition seeks to analyse the business merit and likelihood of each proposed new enterprise.

The New Venture competition seeks to highlight the diversity of entrepreneurs who are making a difference on the African continent today.

The potential of early-stage ideas that have been thought through and tested, as well as the team’s capacity to execute, will be taken into consideration. However, businesses who have a proven technology or have attracted “beta” customers may have a higher chance of success.

What Makes Me Eligible?

Early-stage startups (for-profit or not-for-profit)

Africa-focused startup with a majority or all of its operations in Africa

Less than 50 employees

Less than 5 years of operations

Raised less than $250,000 in funding to date

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The selection Criteria: The team’s plan, experience, verification of key assumptions, and an articulate and convincing presentation of the following will all be taken into account by the judges when determining the venture’s economic potential and chances of success.

Market Opportunity

Geopolitical and industry context

Potential risks and mitigants

Realistic assumptions underlying any financial projections

Defined milestones and execution plan

Value proposition and business model (including market validation of value proposition/growth hypothesis)
Team expertise and ability to execute

Value of awards:

The competition winner, the runner-up, and the third place will be awarded cash prizes of $30,000, $15,000, and $10,000, respectively.

The shortlisted participants will be able to showcase their companies at the Startup Fair to network and interact with distinguished panellists and conference attendees.

How to Apply: Please fill out the application form here to enter your company’s details. Application Deadline: 2nd January 2023