The U.S. Chamber of Commerce’s U.S.-Africa Business Center (USAfBC) and the American Business Council Nigeria (ABC Nigeria) have teamed up to host the Digital Entrepreneurship Competition as part of the 2020 Digital Economy Conference.
The competition seeks Nigerian entrepreneurs, startups, and independent innovators who have developed digital innovation (products, services, etc) to improve living conditions for Nigerians amid the Coronavirus pandemic.
Three (3) winners will emerge and share the total prize value of $25,000 i.e. $10,000 in cash prizes and $15,000 worth of in-kind services such as mentoring and digital marketing/advertising services.
The competition is a part of the 2020 Digital Economy Conference, a program to discuss the emerging policy implications and the need for partnership to deliver a trusted, responsible, and inclusive digital economy in Nigeria. Winners of the competition will be announced during the conference!
Eligibility
- Be a startup or innovator with at least 51% Nigerian ownership
- Must be incorporated /registered with the Nigerian Corporate Affairs Commission (CAC)
- Not be a government agency, public administration, political organization, or non-profit of any type
- Have at least one physical or business location within Nigeria
- Not older than five (5) years and not be part of a franchise brand or licensing agreements for distribution in a different country
- Not be a Business engaged in any illegal activity and not listed on the U.S. Department of the Treasury’s Sanctions List.
Selection Process
The top ten candidates will be pre-selected and notified on November 16, 2020. The top ten finalists will be invited on November 18, 2020 for an interview with a panel of judges, where they will be required to make a presentation based on the two-minute video pitch submitted.
The presentation will be followed by a series of questions from the panel of judges. An evaluation criterion will be used to rank the candidates (see section 6 below). The top ten candidates must also submit an executive summary (3-5 pages maximum) of their innovation on November 18, 2020.
The top three finalists will be notified on November 27, 2020, and the two-minute video pitch of their product/innovation will be featured at the U.S.-Nigeria Digital Economy Conference on December 3, 2020, where. the first, second, and third place winners will also be announced.
Evaluation Criteria
Each applicant will be evaluated by a panel of judges based on the pertinence of the idea being resolved, the quality of the innovation/service response, the business model, its scalability, the size of the market, and the clarity and persuasiveness of the two-minute video pitch.
Applications for the competition will close on November 16th, 2020. Click here to apply.
