Are you a good start-up operating in Africa or a black-owned food manufacturer in the US? Then this is your chance to secure funding for your business growth. Africa Business Club Idea Pitch Competition is now open for application for the 2023 competition.
The Africa Business Club IDEA Pitch Competition 2023 is a platform that offers aspiring entrepreneurs and business owners the opportunity to showcase their innovative ideas in the food industry. It is open to both food start-ups operating in Africa and black-owned food manufacturing businesses in the US.
The purpose of this competition is to support and fund promising ventures that contribute to the growth and development of the food industry in Africa or empower black entrepreneurs in the US. By participating in the competition, participants have the chance to secure funding for their businesses, helping them take their ideas to the next level.
Benefits of Africa Business Club IDEA Pitch Competition 2023
There are three categories of benefits:
First prize
$2,500
Second prize
$1,500
Third prize
$1,000
Africa Business Club IDEA Pitch Competition 2023 – Eligibility Criteria
To participate in the competition, participants must meet the following criteria by presenting their business ideas through a business pitch:
- The business pitch should be original work created by the team members. The author(s) will maintain all rights to the pitch, both before and after the competition. It is essential that the pitch does not contain any fabricated information regarding the background, experience, education of the management team, product development stage, product performance claims, or market survey results.
- The competition is open to African entrepreneurs residing in Africa and black-owned entrepreneurs based in the United States. At least one member of the management team must meet this requirement, while other individuals can also be part of the team and contribute to the venture’s planning. Each participant is allowed to submit only one business pitch.
- The competition is intended for African entrepreneurs who have played a significant role in creating, managing, and owning ventures in Africa, or black-owned entrepreneurs in the United States. It is crucial that African entrepreneurs have key management positions and significant equity in the venture.
- The competition focuses on new ideas and business development, targeting to support businesses that have been registered for at least six months in accessing additional funding. Companies should be less than five years old at the time of submitting their application.
- This competition is an initiative targeting new and emerging African entrepreneurs on the African continent. Teams must show respect towards their opponents, and the Africa Business Club (@Kelley) reserves the right to disqualify teams that behave unprofessionally.
Selection Criteria
The evaluation of the business pitch will be based on three main factors:
- The originality of the business idea.
- The clarity in presenting the business concept.
- The feasibility and potential success of the business.
Guidelines For The Competition
- The business pitch should not exceed 7 pages of text (using a 12-point font), excluding the cover page, title page, and exhibits.
- The business pitch needs to adhere to the ABC @Kelley 2023 Business Pitch Format.
- ABC @Kelley will consider exceptions to the eligibility criteria on a case-by-case basis.
- All finalists are required to submit a one-page executive summary. This document will be reviewed by the judges to gain an understanding of the business before the presentation, so it should focus on conveying essential information. The entrepreneur has flexibility in determining the format and content of the executive summary.
- The entrepreneur has flexibility in choosing the format. The presentation should last for 10 minutes, followed by a 15-minute Q&A session. Only one member from each team is permitted to present and respond to questions.
How to Apply for Africa Business Club IDEA Pitch Competition 2023
- Interested and qualified? Click on the apply button to commence your application.
- For more information about the competition, visit the official website.
Application Deadline
October 13, 2023.
