Calling All African Entrepreneurs: The Kelly African Business Challenge is Here!
Are you an early-stage business leader in Africa looking to refine your business model, pitch to investors, and gain valuable exposure? The African Business Challenge, hosted by the Africa Business Club at the Kelley School of Business (Indiana University), is your chance to compete, learn, and win prize funding. This competition is designed to support African ventures with investment readiness and exposure, providing entrepreneurs with access to business frameworks, feedback from investor-judges, and a chance at prize money. For African MSMEs, participating offers more than just a contest—it’s a learning experience that strengthens market thinking, investor communications, and networking.
Benefits
- One-on-One Feedback: Gain valuable insights and feedback from experienced judges and mentors.
- Prize Funding: Up to US$5000 in prize funding, with the first place receiving US$2,500.
- Business Pitch Development: Learn a clear business pitch format and develop investor-ready materials.
- Global Network Access: Gain visibility and access to a global network through a renowned academic business club.
Eligibility Criteria
- Entrepreneurial Roots: Born in Africa and have a startup based in Africa.
- Registered Venture: Your venture must be registered and have been operational for a minimum period (e.g., ≥ 1 year).
- Viable Business Model: Demonstrate a viable business model with strong impact potential and a clear addressable market.
- Single Submission: Only one submission per team or venture.
Application Rules & Guidelines
- Authenticity: Your business pitch must reflect original work, avoiding exaggeration or fabrication.
- Pitch Document: The pitch document is limited to 7 pages (or less) in the previous edition.
- Key Questions: Your pitch should answer essential questions: What is your product/service? Who is your target market? What traction do you have? What sets you apart?
- Submission Requirements: Teams may be required to submit an executive summary and deliver a live presentation with Q&A.
Competition Duration & Timeline
The competition typically runs over several weeks, with stages including submission, shortlisting, finalist presentations, and the winner’s announcement.
Tips for Success
- Clear Communication: Ensure your pitch clearly articulates the problem, the solution, and your competitive edge, avoiding vague terms.
- Data-Driven Support: Use metrics or real data to support your claims, even if your business is in its early stages.
- Executive Summary: Prepare a concise 1-page executive summary, as this often provides the first impression.
- Rehearsal and Preparation: Rehearse your presentation and be prepared to answer judges’ questions on traction, business model, and scalability.
- Early Submission: Submit your application early and ensure all eligibility criteria are met to avoid disqualification.
How to Apply
Visit the official competition page (verify current year rules and deadlines) on the Africa Business Club @ Kelley website: [https://sites.google.com/view/african-business-challenge/rules-guidelines?authuser=0]. Complete the application form, upload your pitch document and supporting materials, and follow the instructions for finalists if selected.
Don’t miss out on this incredible opportunity to refine your business, gain exposure, and connect with investors. Apply now and take your African venture to the next level!