African German Entrepreneurship Academy (AGEA) Business Idea Competition 2021 (€1,000 prize) | Apply Here

African German Entrepreneurship Academy Business Idea Competition 2021 | Award Prize | Qualification | How to Apply

This is a collaboration of the AGEA network and business partners in Africa and Germany to promote practice-oriented entrepreneurship education, entrepreneurship promotion and developing business start-ups for Africa.

Furthermore, it aims to reach out, identify and support innovative entrepreneurial solutions to African challenges by African students, entrepreneurs, academics and researchers within the AGEA network and beyond. 

Additionally, this year focuses on generating entrepreneurial and commercially viable solutions stemming from research at African universities that can develop into spin-off start-ups/companies.

Hence, read this article to apply for the opportunity African German Entrepreneurship Academy Business Idea Competition.

African German Entrepreneurship Academy Business Idea Competition 2021

African German Entrepreneurship Academy (AGEA) Business Idea Competition 2021 (€1,000 prize)

Award Prizes

The Top 3 ideas will receive the following prizes:

  • First Prize – €1,000
  • Second Prize – €500
  • Third Prize – €300
  • Audience Award – €500

Qualifications

  • Firstly, a Students (Masters and PhD) can apply.
  • Secondly, an academic staff (lecturers, professors) and researchers.
  • Thirdly, it is open for early-stage entrepreneurs (university alumni – Bachelors, Masters or Doctorate)
  • Lastly, individual or a team of a maximum of three (3) members can also apply, however, if applying as a team, each member must be eligible for the competition.

Selection Criteria

Assessment of each idea by three (3) evaluators will be on the basis of the following criteria: 

  • RelevanceHow relevant is the problem being solved by the idea for the specified target group? How significant is the idea for the targeted market?
  • FeasibilityCan the idea be realistically transformed into a product or service? Is the right technology available to ensure the realisation of the idea?
  • Market Availability: How attractive is the solution for potential customers in comparison to existing solutions? 
  • Commercial Viability and Sustainability:  How high is the potential for success on the market? Can the product be easily marketed to the proposed customers at a competitive price? Can the idea be implemented in a sustainable way to generate adequate revenue?
  • Impact: To what extent can the solution impact society – economically, socially and/or environmentally? 

How to Apply

Click here to apply

Application Deadline: October 31, 2021.

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