Venture Funding Competition
Idea Generation is the StartUpAfrica’s premiere venture funding competition. It provides youth entrepreneurs and other entrepreneurs with the opportunity to make connections and collect feedback on their ideas while competing for startup cash and prizes.
Two Competitive Tracks
The Idea Generation offers two competitive tracks: (1) a youth track and (2) a general track. The youth track is open to youth between ages 15-25. All members of teams competing in the youth track must be age 25 or younger. The general track is open to participants of all ages.
Two Rounds to Determine the Winners
The Idea Generation consists of two competitive rounds: preliminary and final.
Preliminary Round : Participants submit a 3-5 page business concept for evaluation by seasoned entrepreneurs, investors, and business consultants.
Final Round : Participants who are judged as having submitted the best 3 business ideas in each track present an investment pitch to a panel of seasoned entrepreneurs, investors, and business consultants during StartUpAfrica’s Conference & Gala on Saturday, October 6th. The judging panel determines the allocation of prizes.
Schedule for Idea Generation 2012
|Aug 31st||Deadline for submission of business concepts to: firstname.lastname@example.org|
|Sept 17th||Notification of Finalists|
|Sept 28th||Finalist rehearsals|
|Oct 6th||Final round presentations during the 2012 StartUpAfrica’s Business & Entrepreneurship Conference|
What to Include in Business Concept Submissions & Presentations
The best business concept submissions will offer compelling descriptions of: (1) who the customer is, (2) what the customer’s problem or point of pain is, (3) the solution you will deliver to customers to solve their problem, (4) how/why your solution is superior to current offerings, (5) how you plan to make money (what is the revenue model), (6) why you (or your team) can be expected to deliver strong results, and (7) any evidence you may have for the validity of the concept.
For the final round, you will also need to address the level of market traction you’ve gained to date, the size of the market, how you will get your product to market, and financial projections.
Rules and Disclaimers
1. Preliminary round submissions are strictly limited to 5 pages, not including a cover page. If a submission exceeds this limitation, only its first 5 pages will be evaluated. Submission must maintain 1-inch margins and use 12-point, uncondensed font (or larger).
2. Final presentations will be strictly limited to 6 minutes. These presentations will also include a Q&A session with the judges of up to 5 minutes. Additional details regarding the presentations will be provided to Finalists.
3. There is no limit as to the maximum or minimum number of people on each team. Individuals may enter the competition; an individual may also participate on more than one team and/or submit more than one proposal.
4. Only business concepts that have not been presented during the finals of previous StartUpAfrica’s Business Plan Competitions or Venture Funding Competitions will be considered.
5. Only business concepts that have generated less than $100,000 in total revenue by the preliminary round submission deadline will be considered.
6. A team of StartUpAfrica’s entrepreneurial experts shall be the arbiters of all rules and rule clarifications. This team reserves the right to disqualify any participants who violate these rules of the spirit of the competition.
7. Disclaimers: StartUpAfrica’s Idea Generation competition includes open session presentations and external review of business concept submissions. Participation is voluntary, and as such, participants are responsible for determining whether to disclose proprietary or sensitive information in their submissions and presentations. StartUpAfrica assumes no liability for accidental or voluntary disclosures of proprietary information or intellectual property.