The MTN Entrepreneurship Challenge powered by Jumia was born out of the desire to contribute to building a stronger and more sustainable business environment in Africa and to boost the entrepreneurial spirit of Africa.
It is a Pan-African challenge and invites teams from across the continent to compete for over $75 000 in prizes, including investment, cash and in-kind awards. Teams will have the opportunity to meet and network with early stage investors, experienced business professionals and successful entrepreneurs who will serve as judges.
Reflecting both the MTN Solution Space's and Jumia's passion for responsible e-business, the focus will be on sustainable and responsible digital solutions for the African market. The main criteria that will be evaluated are: Fit to African Market; Operational Feasibility; Innovation and Financials.
There will be cash prizes for the 3 finalist teams, as well as a trip to Cape Town, South Africa to present at the MTN Entrepreneurship Challenge powered by Jumia Festival in May 2016. The winners will be announced at the festival with the top team being awarded the opportunity for incubation at the premises of either MTN Solution Space in Cape Town, or at one of 9 Jumia offices across the continent.
Subject Relevance - Area of Reference
Africa is moving faster and further into the digital age and smart and easy digital solutions are becoming more relevant and more vital.
A pure internet-based solution is therefore the primary criterion for this challenge.
Below are examples of relevant areas of interest:
- 1. E-commerce marketplaces
- 2. Online classifieds
- 3. Lifestyle marketplaces
- 4. Online collaborative solutions
- 5. Education technology
- 6. Financial technology
- 7. Health technology
- 8. SmartCities and solutions
Participation - Rules & Requirements
- Teams must be comprised of 2-3 members, at least one of which must be a current student or recent graduate of an African university.
- Entrants cannot be part of more than one team.
- Only one business plan can be submitted per team.
- Business projects can only be submitted in either English or French.
- The business project must be focused around online-based solutions and must be relevant to the African market. Criteria consist of: Fit to African Market; Operational Feasibility; Innovation and Financials.
- Projects must consist of 2 elements: Executive Summary including SWOT Analysis and Income Statement Projection. *An Executive Summary including an Income Statement template is available for download at the top of the application form.
- All ideas must be original and plagiarised entries will not be considered.
- Finalists must be free and willing to travel to Cape Town, South Africa for the Entrepreneurship Festival from 26 - 28 May 2016.
- MTN Solution Space and Jumia ensure the strict protection of Intellectual Property Rights and sensitive details of your innovation will be kept confidential. Everyone involved in the MTN Entrepreneurship Challenge powered by Jumia selection process is bound by a MTN Solution Space/Jumia andMTN Entrepreneurship Challenge Non-Disclosure agreement requiring them to keep all information confidential.
Failure to obey any of the rules or requirements listed above can result in automatic disqualification with no possibility for further participation in the future editions of the MTN Entrepreneurship Challenge powered by Jumia.
Timeline
The selection process consists of 4 rounds:
- Application Round:
15 February 2016 and closes on 27 March 2016 at 23:59 GMT.
Submit your application of the Executive Summary and Financial Statement onto the website. - Campus Round:
April 1 - 8
Present your business project in front of the Campus Captains. They will select the top projects to present to the selection committee. - Finalists Announced
April 16
The selection committee will announce the 3 finalist teams based on the main criteria of: Fit to African Market; Operational Feasibility; Innovation and Financials. - Final:
May 27
The three finalists will fly to Cape Town, South Africa and pitch their idea in front of the public at the Entrepreneurial Festival where the winners will be announced.
Application Guidelines & Submission of Entries
All applications must be complete and include both Executive Summary including SWOT Analysis and a basic Income Statement Projection. *An Executive Summary including an Income Statement template is available for download at the top of the application form.
Applications must be in French or English only.
Applications must reflect the evaluation criteria and be in line with the subject.
You can submit your application here.
If you have any questions that are not answered on the website here or on the FAQ page.
