Eligibility criteria Early-stage Agritech startup Monthly Recurring Revenue: A minimum of $5k Funding raised: $0 to $1M cumulative Years in existence: 3 years and below Traction: At least 6 months of recurring revenue Must be operating in one of the 14 MAC countries (Benin, Cape Verde, Côte D’Ivoire, Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mauritania, Nigeria, Senegal, Sierra Leone, Mali and Togo) Founding team: At least 2 founding team members Registered in Delaware (This is preferred) Any business model (B2B, B2C, B2B2C, B2G etc…) All participants must pitch in English
Timeline Applications open on 26th August 2024 Applications close on 4th October 2024 Top 20 Participants chosen on 14th October 2024 Virtual semi finals on 29th October 2024 and 30th October 2024 In-person finals date TBA
FAQs What is the Grand Prize? The Grand Prize of MAC 2024 is $50,000 in equity investment, access to MEST Portfolio resources and strategic partnerships, 1 year professional business coaching in addition to other benefits and prizes for the overall winner. Where does my startup need to be located to participate in MAC? You’re eligible to apply if your company operates in one or more of the fourteen MAC countries (Benin, Cape Verde, Côte D’Ivoire, Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mauritania, Nigeria, Senegal, Sierra Leone, Mali and Togo.) Will MEST organize pitch readiness sessions for applicants? Pitch readiness sessions will only be organized for Finalists preparing for the final Demo Day. How long are finalists expected to be in Accra for the Final Demo Day? 3-4 days. Plan to arrive in Accra 1-2 days before the final competition and depart the day after. Who incurs the cost of travel for the Final Demo Day in Accra? Finalists will be fully sponsored with travel to and from Accra, housing, and transport for the final pitch day in December 2024. Please plan to arrive in Accra a few days before. Are all Finalists expected to be in Accra for the Final Demo Day ? Yes. What language should we pitch in? All pitches and Q&A will be made in English. Is the pitch competition physical? Hybrid. Semi Finals will be virtual and the final demo day will be in Accra, Ghana. When will the winners be announced? Semi Finalists will be announced a few days after their pitch and the overall challenge winner will be announced at the end of the Final Demo Day in December. How long do we have for our pitch? Each pitch will last for 5 minutes with 5 minutes Q&A. Startups can include a live demo of their product during pitches. This should be within time. Where will the Semi-Final Pitch competition be? The Semi Finals will be private and virtual. A link for this session will be shared in advance to all Semi Finalists. What are the video pitch guidelines for the application? The video duration should be a maximum of 3 minutes and can be taken with a mobile phone The applicant must appear on camera for the pitch. This means that animated videos, videos with text and a voiceover, etc. cannot be used as the pitch. Applicants will not be scored on video quality, as the focus will be on the pitch itself, however, the applicant must ensure s/he is visible and audible. The pitch must be made in English What are the various stages of the competition? Complete an online application including a 3mins Video pitch Selection of the top 20 applicants Virtual Semi-Finals competition held for all countries Selection of top 5 startups The top 5 compete at the grand finale and Demo Day in Accra, Ghana What are the criteria for the 2024 MAC? Your business must be an early-stage technology startup based in at least one of the fourteen MAC countries (Benin, Cape Verde, Côte D’Ivoire, Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mauritania, Nigeria, Senegal, Sierra Leone, Mali and Togo) with the following characteristics: Monthly Recurring Revenue: A minimum of $5k Funding raised: Cumulative $1M or less Years in existence: 3 years and below Traction: At least 6 months of recurring revenue Founding team: At least 2 founding team members Registered in Delaware (This is preferred)
SAYeTECH Wins MEST Africa Challenge 2024, Securing $50,000 in Funding Accra, Ghana – The Meltwater Entrepreneurial School of Technology (MEST Africa) has announced SAYeTECH as the winner of the MEST Africa Challenge (MAC) 2024,… read more