Harvard Business School New Venture Competition is open to entrepreneurs from Africa and those with a strong focus on Africa are invited to participate in the competition, provided their businesses contribute to shaping our future.
Harvard Business School, in partnership with Harvard University graduate schools, has established a range of joint degree programs. These programs aim to equip individuals with the necessary skills to address intricate leadership challenges, combining expertise with effective management abilities.
Scholarship Summary
- Host: Africa Bussiness Club
- Category: Competitions
- Eligible Countries: African Countries
- Reward: $50,000
- No IELTS Required
- Deadline: November 15, 2023.
Details:
The 26th Harvard Business School Africa Business Conference will be held on February 16th – 17th, 2024 with the theme “Africa Forward: Competing in a Global Era.” As part of the conference, the Africa Business Club will be hosting the New Venture Competition which seeks to showcase the diversity of entrepreneurs making a difference on the continent today.
Requirements:
The competition is open to all African and Africa-focused entrepreneurs with businesses focused on shaping our future. Entrepreneurs who offer unique and homegrown solutions to local problems and who meet the following requirements are highly encouraged to apply:
- Early stage startups (for profit or not-for-profit)
- Africa-focused with a majority or all of its operations in Africa
- Fewer than 50 employees
- Fewer than 5 years of operations
- Raised less $1,000,000 in funding to date
Reward
- From the pool of applications, 10 semi-finalists will be invited to pitch their business in front of over 1,000 attendees and receive feedback from a panel of experienced judges. The winner and runner-ups for second and third place will be awarded cash prizes of $30,000, $15,000, and $10,000, respectively.
Eligibility Criteria
The Competition is about assessing the commercial merit and potential viability of each proposed new venture. The judges will evaluate its potential for economic success and the likelihood of achieving that success based upon the team’s plan, experience, and the validation of key assumptions and a clear and convincing presentation of the following:
- Product/Service (what it is; why distinctive)
- Team (relevance to problem/breadth/depth of skills; ability to execute)
- Opportunity (timing, market size/need, ability to penetrate, strong value proposition and business model)
- Context (favorable regulatory/tax/political and industry context)
- Competitive advantage (Business & Product / Technology)
- Easy to copy? Barriers to entry? IP? Hiring capabilities, How many competitors? etc.
- Risk/Reward (ways to manage upside/downside)
- Structured Experimentation (market validation of value proposition/growth hypothesis)
- Financial (realistic assumptions underlying any financial projections)
- Traction & Execution (defined milestones)
- Go-to-market strategy
- How will you or are you acquiring customers?
- Marketing/Sales Channels/Partnerships?
Method of Application
Interested Candidates should use the link created below to complete the application processes.
Best Wishes.
