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Call for Applications

BMCE Bank African Entrepreneurship Award 2018 for African Based Entrepreneurs ($1 million Prize)

by OFA
written by OFA

Application Deadline: April 30th 2018

Are you looking for mentoring to launch or grow your business or idea in Africa? Join the journey to receive free, online mentoring from over 400 entrepreneurs, investors and business owners.

The African Entrepreneurship Award offers $1 million to all eligible African entrepreneurs with an exisiting business or just an idea for one. The Award Journey is made up of 4 rounds of mentoring and starts by you taking a few minutes to submit an idea for Round 1. Once you hit the submit button, you begin a journey with real entrepreneurs who have been where you are today.

Eligibility.

You, the entrepreneur, must meet the following criteria to submit your business proposal:

  • You are a citizen, & over 18 years of age.
  • Your idea or business is a for-profit.
  • You have a strategy for positive social impact.
  • Your idea fits in one of this year’s categories.
  • Your idea is for Africa, or an African country.
  • Your idea or business includes a technological component.
  • You must be a citizen of an African country.
  • You must be a minimum of 18 years old as of November 1, 2018.
  • Your business or idea must be applicable in an African country.
  • Your business or idea must include a technological component (digital, machinery, computers, ICT, automated processes, field related technologies,…)
  • Your business or idea must be for profit.
  • Your business or idea must include a social impact. You need to articulate the problem you are trying to solve as well as the solution you offer.
  • Your business or idea must be relevant to one of these categories:

Award Categories:

Innovation

New technology, new business model or attempting to solve a problem that’s never been solved before in your region.

Criteria Include
  • Is it durable?
  • Is it multi-functional?
  • Is it environmentally sustainable?
  • Is it low cost?

Sports

Promotes integrity, perseverance and friendship to unite communities.

Criteria Include
  • To what extent does it strengthen the economy?
  • To what extent does it improve health of our youth?
  • To what extent does it reflect values, especially integrity?

The Journey:

Ten months to launch or scale your idea, build your business, & share in the Award.

Timeline:

Submissions Open
Submit your idea by April 30.
April
3 Rounds of Online Mentoring
Our mentors help define your market & put your scalability to the test.
October
On-site Visits
Entrepreneurs in the top 50 are visited by the Award team.
December
Bootcamp
Finalists benefit from a 3-day Boot Camp; then pitch their ideas to the Presidential Jury.
The Award
The jury decides the number of winners & how the $1 million award is shared.
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Call for Applications

BMCE Bank African Entrepreneurship Award 2017 for African Based Entrepreneurs ($1 million Prize)

by OFA
written by OFA
Application Deadline: April 28th 2017
Are you looking for mentoring to launch or grow your business idea in Africa? Submit a brief summary of your idea now to start your entrepreneurship journey.
The African Entrepreneurship Award offers $1 million to all eligible African entrepreneurs with an exisiting business or just an idea for one. The Award Journey is made up of 4 rounds of mentoring and starts by you taking a few minutes to submit an idea for Round 1. Once you hit the submit button, you begin a journey with real entrepreneurs who have been where you are today.
You may be asking yourself this whole time why you would be submitting your golden idea to the African Entrepreneurship Award. What are you getting out of this? We are not seeking to capitalize on ideas. Rather, we seek out the best ideas from all over Africa and empower you to plan, launch and scale your business. We will finance and help build your idea into a sustainable business that employs people, improves your economy, and impacts lives in Africa.

 

Eligibility

You, the entrepreneur, must meet the following criteria as you submit your business proposal:
  • You must be a citizen of an African country.
  • You must be a minimum of 18 years old as of October 1, 2017.
  • Your business must be applicable in an African country.
  • Your business proposal must include a technological component (digital, machinery, computers, ICT, automated processes, field related technologies, etc.).
  • Your business must be for profit.
  • Your business idea must include a social impact. You need to articulate the problem that you are trying to solve as well as the solution that you propose to offer.
  • Your business must be relevant to one of these categories:
    • Education – positively impact education in Africa
    • Environment – positively impact the environment in Africa
    • Uncharted – a high-impact business venturing into unexplored territory or untested markets

Additional Eligibility Information

  • You can submit a proposal as a resident of any country worldwide – keeping in mind that you must be a citizen of an African country.
    • For example, a resident of the United Arab Emirates with Egyptian citizenship is eligible for this Award.
  • Your business can operate in any African country even if you are not a citizen of that country.
    • For example, a Ghanaian citizen can submit a proposal for a business in Liberia.
  • You can submit a proposal for a business already in operation.
  • Your business can operate across borders in multiple African countries.
  • Your business should demonstrate the potential to scale beyond one region in Africa to pan-African impact.
  • You can operate in multiple countries, but you will be asked to designate a primary community in Africa that will benefit or be impacted by your business.

Categories:

You can submit a business proposal in one or two of the three Award categories:Education, Environment, or Uncharted

Education:

Education is essential to equip Africans in the 21st century. As 11 million young Africans enter the job market every year, we are looking for business ideas that will impact education with the potential to scale across Africa.

The Environment

The Environment is critical to ensure Africa works together in all sectors to promote innovations that will protect the livelihood of current and future generations. As 11.3 million hectares of land are ravaged every year by poor agricultural systems, over-grazing, and deforestation, we are looking for business ideas that will impact the environment with the potential to scale across Africa.

Uncharted

Uncharted means unexplored, not yet attempted. What is so difficult to do in your community that no one has tried before? Like explorers and inventors throughout history, what will propel Africa into a stronger position in the 21st century? We are looking for business ideas that boldly go where no one has gone before in Africa.

For More Information:

Visit the Official Webpage of the African Entrepreneurship Award 2017

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