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Friday, 26 February 2016

Apply For The Maiden Edition Of 2016 MTN Nigeria/Jumia Entrepreneurship Challenge

MTN Nigeria in partnership with the MTN Solution Space and Jumia, are proud to announce the launch of the MTN Entrepreneurship Challenge powered by Jumia.

The 2016 MTN Entrepreneurship Challenge powered by Jumia is a Pan-African competition launched today and it is the first of its kind in Africa, bringing together over 1000 entrepreneurs, students and investors, to collaborate on ways to amplify and consolidate the continent’s entrepreneurs. Targeting more than 60 universities in 13 countries across Africa, the competition will challenge students to develop a unique digital application or smart solution that will solve a tangible problem faced on the continent.

Evaluation Criteria:

Our review team (encompassing campus captains and selection committee) will be evaluating applications according to four main areas (which are underpinned with more specific criteria). Particularly, participating teams should make sure that their business plans will: fit to African market, be operationally feasible, be innovative and contain relevant financials.

The general assessment scheme can be found below:

Formal Requirements:
  • Executive Summary (2pages)
  • Financial Statement (proforma, basic information)
  • In Line with the Subject. 
  • Need Identification (You must Clearly state a problem, which you are hoping to solve).
  • Solution (Well-defined solution as an answer to previously identified problem).
  • Monetization (You should illustrate your pathway to monetizing the proposed solution).
  • Fit to African Market (external analysis); Macro Trends – Environment, Competitive Landscape.
  • Operational Feasibility (internal analysis); Internal Competencies, Management Team. 
  • Innovativeness; Novelty Aspect (Clear proposition of breakthrough innovation), Added Value (Presentation of a clear path to tangible value creation to customers thanks to suggested innovation), Societal Impact (strategy and operations aligned for responsible and sustainable business). 
  • Financials; Income Sources (Identification of a way, in which a business is going to generate money), Investment Ask (Accurate identification of financial needs & plan of utilizing potential funds).
  • Time Management
  • Design (Appropriate use of audio & visuals)
  • Delivery

Who can Apply?

Teams may be comprised of 2 or 3 individuals with at least one member currently enrolled at in an African university or a recent graduate (Academic year 2014 – 2015 or 2015 – 2016) of an African university.

Prizes and Benefits

The winner of the MTN Entrepreneurship Challenge powered by Jumia will win a cash prize of US $25 000 towards their start-up, and will also benefit from a yearlong partnership with Jumia, where they will have the opportunity to work from any of JUMIA’s offices across Africa.

This will enable the winner to learn from, and be mentored by experienced and successful entrepreneurs in the JUMIA network.

The winner will also have access to a Facebook Start Program to the value of US $15 000, which includes tools and services needed to build mobile applications.

In addition, they will have the opportunity to work from the MTN Solution Space at the University of Cape Town’s Graduate School of Business. The two runners-up will each receive US $5 000 towards their projects.

Important Information
Campus presentation Live pitches
1st – 8th April, 2016.
Finalists Announced
16th April, 2016.
Entrepreneurship Festival and Winners and Runners Up Announced
27th May, 2016.

Application Deadline:
27th March, 2016.

Method of Application

The MTN EC by JUMIA uses the Website application platform to manage applications. To enter, the designated team leader should complete the online enrollment form.

Note: Application, Executive Summary and Video Pitch (optional, but highly encouraged) must be completed no later than 23:59 pm GMT, Sunday, March 27, 2016.

Source: Hotnaija

Joseph Etim

Joseph Etim (B. Tech) is a blogger, mobile web developer and a tutor with a zeal for positive effects.

Website: Pepetimsblog

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