Submissions for the 2016 edition are now closed. Follow our Home Page for round results and read more about our 2015 winners. We look forward to seeing your application in the next edition.
You may be asking yourself this whole time why you would be submitting your golden idea. What are you getting out of this? We are not seeking to capitalize on ideas, but rather to select the best ideas from all over Africa and empower you, the entrepreneur, to plan, launch and scale your business. We will finance and help build your idea into a sustainable business that employs people, improves the economy in your area and lives in Africa.
Business ideas most needed in the region
When you start the journey, we will ask you questions about your business idea to get to know you and your idea’s relevance to the region. Once you submit your idea, our community of Regional Mentors will provide specific feedback directly to you via the website on your idea’s potential to impact your region. During Round 1, you must convince the Regional Mentors that you understand the needs in your region and your idea meets these needs.
We will share the Regional Mentors’ overall ranking of your idea with you at the end of Round 1, estimated to be May 25. If your idea ranks in the top of “Most Needed in Your Region,” you will be notified that you and your idea are progressing to Round 2, “Most Likely to Succeed Across Africa.”
Business ideas most likely to succeed across Africa
In the second stage of your journey, we will ask you more questions about your business’s customers, competition and scalability across Africa. Your answers will be given to Pan-African Mentors – business leaders who give you feedback to enable your business proposal to succeed across Africa, equipping you to be successful on a bigger scale. During Round 2, you must convince the Pan-African Mentors that you know your potential customers’ needs, that you are able to communicate the idea, that you are well aware of your competition, and that you can visualize or explain the idea through a graphic or video.
We will share the Pan-African Mentors’ overall ranking of your idea with you at the end of Round 2, estimated to be July 29. If your idea ranks in the top of “Most Likely to Succeed across Africa,” you will be notified that you and your idea are progressing to Round 3, “Most Significant and Sustainable in Africa.”
Business Ideas most significant & sustainable in Africa
In the third stage of your journey, we will ask you more questions about the financial projections of your business, your leadership, your advisors and your barriers to success in Africa. Your answers will be given to a new set of Global Mentors who are experienced entrepreneurs and venture capitalists from 10 countries that give you feedback to enable your business proposal to be more significant and sustainable. During Round 3, you must convince the Global Mentors that you understand the risks you are facing including: leadership gaps, advisor needs, political barriers, customer constraints, and financial risks. During Round 3, you will be coached by the Global Mentors privately via the website on how to improve your Executive Summary, which is a fantastic tool that is reusable in all of your future funding efforts and pitches.
We will share the Global Mentors’ overall ranking of your idea with you at the end of Round 3, estimated to be October 25. If your idea ranks in the top of “Most Significant and Sustainable in Africa,” you will be notified that you and your idea are one of the few Finalists progressing to the Final Round,to be judged by our Presidential Jury.
The Presidential Jury comprises distinguished business leaders and entrepreneurs who have created and/or scaled businesses on five continents. Entrepreneurs who make it to the Final Round will present live to the Presidential Jury in Casablanca, Morocco, with travel and local housing sponsored by the Award. If they are unable to travel, they are still eligible to win and will be offered a time to present live via a video session to the Presidential Jury in Morocco.
Finalists will be asked to present their business idea and take live questions in a private setting in Casablanca, Morocco. Before presenting, finalists will be offered individual coaching by African and Global Boot Camp Coaches to prepare starting several days before their live presentation. Finalists will be notified on or about November 1st so travel and visa plans can be made.
The Final Award Ceremony will be December 5, 2016, in Casablanca, Morocco. If your idea is one of the Final Winners, you will continue your journey of mentoring with a customized plan designed to help you plan, launch and scale your business.