New Venture Competition 2019 – Wharton Africa Business Forum

At the 27th Annual Wharton Africa Business Forum, we aim to connect promising early-stage African entrepreneurs to a powerful network of investors, mentors, and coaches to accelerate their growth and resources to develop their ventures into regional powerhouses.

As part of this initiative, the Wharton Africa Student Association is pleased to announce the New Venture Competition at this year’s Wharton Africa Business Forum. Entrepreneurs will submit an application outlining their venture. The shortlisted finalists will pitch to a panel of judges and a public audience at the WABF27 conference on Friday, November 1, 2019, and Saturday, November 2, 2019

If you believe that your venture/idea has what it takes, please see the eligibility details below. Applications are now open, and the application deadline is Thursday, September 26, 2019, 11:59 PM EST

HOW IT WORKS

10 finalists will be shortlisted to pitch their business to a panel of expert judges on Friday, November 1, 2019. Then, only the Top 3 ventures emerging from Friday will present to the panel and conference audience on Saturday, November 2, 2019

• 1st place winner will claim $10,000 grand prize.

New this year:

• 2nd place will claim $5,000
• 3rd place will claim $3,000

The audience will get to vote an additional People’s Choice award with a discretionary monetary amount.

ELIGIBILITY CRITERIA

The competition is open to entrepreneurs with innovative solutions to some of Africa’s toughest challenges. Entrepreneurs with ventures that meet the following criteria are encouraged to apply:

• Focused on serving customers in Africa. While the venture must not be domiciled/headquartered in Africa, preference will be given to those with operations on the continent
• Has a for-profit business model. Pre-revenue ventures are eligible
• Has less than 50 employees and less than 3 years in operations
• Raised less than $150,000 for their venture

SUCCESS CRITERIA

Successful ventures demonstrate strength in these areas:

• Customer Need & Market: Compelling reach and relevant need in their target market
• Solution: Competitiveness and viability of solution to sustainably capture value from customers
• Business Model: Defensible monetization strategy
• Management Team: Credibility through the team and partners’ experience and/or background