Africa: WABF New Venture Competition
The New Venture Competition (NVC), a conference highlight, is a pitch competition for early-stage ventures, designed to showcase a new generation of innovators.
Funding Information
Participants will get a chance to win up to $30,000 in non-equity financing and network with top founders and investors from across Africa.
What they are looking for?
From the multitude of applications they receive, they will choose 10 finalists. Here are a few factors to consider that can enhance the strength of your idea.
- Founding Team Experience
- Does the current team have the required skills for execution? Is there a track record of building meaningful things and/or an exceptional career trajectory? How has the management team performed since the inception of the company/product?
- Market and Traction
- Is there a demonstrated need or gap in the market that the startup’s solutions solve? Is the total addressable market substantial enough to make this a lucrative investment opportunity? How is the market for the product/service growing and/or changing?
- Product Design and Business Model
- Semi-finalists will connect with top founders and investors from across Africa and benefit from exclusive masterclasses to strengthen thier business acumen and build a robust foundation.
- Impact
- How well does the solution tackle at least one of the UN’s SDGs (Sustainable Development Goals)?
Eligibility Criteria
- The WABF New Venture Competition (NVC) seeks to elevate founders creating innovative products, solutions, or services that strategically tackle Africa’s biggest and most urgent challenges. To participate in the NVC, founders must meet the following criteria:
- Business must be at a pre-seed or seed stage (business must have raised no more than $150K)
- Business must primarily serve the African market, though it does not have to be domiciled in Africa
- Business must be less than three (3) years in operation, with no more than 50 employees
- Business must not be a recipient of any previous funding from the WABF NVC.
For more information, visit Wharton Africa Business Forum.
Deadline: 24 September 2023
