Startups Zim! Check Out This $25,000 USD Innovation Contest

The annual Digital Innovation Competitors for African Startups is facilitated every year by the US Chamber of Commerce’s African American Enterprise Heart (USAfBC) in partnership with AmChams throughout Africa. Yearly, the competitors is awarded to gifted folks Innovators, Entrepreneurs and Startups Behind digital services which can be making a constructive affect on African residents.

The winner in 2022 will do obtain recognition Of their dwelling – and $25,000 money prizeinside Different non-cash prizes!

Goal industries

The competitors will concentrate on three broad thematic areas:

  1. Fintech and cyber options: Protecting information circulation options, cross-border digital platform options, cellular know-how, IP administration, cybersecurity, and the digital motion of the inventive arts (films, music, and humanities).
  2. Sustainability and Provide Chain OptionsCovers good manufacturing, e-commerce, managing shared economies, digital provide chain optimization, and logistics options for e-commerce and agricultural know-how (AgTech) corporations.
  3. Human growth and social providers options: Protecting digital well being options and e-learning platforms.

Awards

In-kind providers might embrace laptops, annual subscriptions to digital platforms, mentoring providers, and digital advertising/promoting for the highest three competitors winners. The highest three winners may also be offered with a digital platform to attach with mentors and members in the course of the Digital Financial system Summit on December 7, 2022.

First prize

Whole Grand Prize Bundle Worth $25,000. This contains $15,000 in prize cash, a 6 months instructing With Fortune 500 Tech and a 1 12 months subscription to digital instruments/platforms.

second prize

Second prize package deal of $15,000. Second prize contains $10,000 In prize cash, a 6 months instructing With a know-how firm and 6 months Subscribe to digital instruments / platforms.

Third prize

The third prize package deal is $10,000. The third prize contains 5000 {dollars} In prize cash, a 3-month mentorship With Tech and three months Subscribe to digital instruments/platforms.

5 regional champions

5 regional champions will probably be named and picked up 5000 {dollars} In prize cash, a recognition platetake pleasure in 3-month mentorship with the corporate of their thematic area.

eligibility – eligibility

As a part of its strategic imaginative and prescient, USAfBC seeks revolutionary proposals by means of digital options that articulate affect tales and clearly outline challenges and actions to implement options within the digital house. The Digital Innovation Competitors is open to entrepreneurs, startups and impartial innovators who’ve turned concepts into digital innovation to enhance the dwelling circumstances of Africans amid the pandemic.

To be eligible, an applicant (or a startup firm) should:

  • Be a startup or innovator with at the least 51% African possession
  • Have to be registered/registered with the suitable physique within the nation, for instance, the Nigerian Company Affairs Fee (CAC)
  • Not be a authorities company, public administration, political or non-profit group of any form African Digital Entrepreneurship Competitors 2022
  • The top workplace of the startup should be in an African nation.
  • The startup should be not more than 5 (5) years previous and never be a part of a model or licensing agreements for distribution in a unique nation
  • Not be a enterprise engaged in any criminal activity that’s not on the US Treasury Sanctions Checklist

Analysis/choice course of

The analysis course of will happen in three phases:

stage 1 [all applicants]After being submitted on-line, purposes will undergo a primary evaluation spherical. This evaluation will probably be carried out by the appointed specialists. This evaluation begins with an eligibility and exclusion examine. Candidates who don’t adjust to these standards is not going to be evaluated. Specialists will consider eligible purposes primarily based on analysis standards and a shortlist of the highest 10 ranked purposes, together with regional champions for every of Africa’s sub-regions (North, West, Central, East and Southern Africa). The ten shortlisted candidates will probably be notified of their {qualifications} and invited to submit an government abstract (3-5 pages most) of their innovation and take part in Section 2.

Stage 2 [10 shortlisted finalists]The ten shortlisted candidates will probably be invited to current their concept earlier than a panel of specialists, together with chosen representatives from the American Chamber of Commerce in Africa and trade leaders with experience and data within the areas of digital transformation, digital providers, and enterprise methods. The committee will conduct the evaluations, and choose the three finest contestants in stage 3.

Stage 3 [ top 3 finalists]The highest three winners of the US-Africa Digital Financial system Summit 2022 will probably be introduced in December 2022, with the primary, second and third place winners additionally to be introduced after a stay vote by Summit members. A 2-minute video of their product/innovation may also be proven. The outcomes will probably be accepted by an exterior certification physique.

Purposes for the Digital Innovation Competitors shut on June 30, 2022 and you’ll apply for the appliance with the hyperlink over right here


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