The 2024 GBSN Africa Business Concept Challenge

The 2024 GBSN Africa Business Concept Challenge

The 2024 GBSN Africa Business Concept Challenge

Apply now for the 2024 GBSN Africa Business Concept Challenge on Truesport your best worldwide scholarship website on the internet. GBSN is delighted to proffer the 4th annual Africa Business Concept Challenge (ABCC), a virtual business concept competition for African undergraduate and graduate students. The competition challenges student teams to develop a viable business concept that tackles a locally-relevant challenge or problem related to Agenda 2063, and inclusive and sustainable development.

The Africa Business Concept Challenge plans to support young people from the African continent who have an entrepreneurial orientation, a desire to serve their community, and display the values outlined below. With a concentration on enhancing responsible business, the competition identifies high potential young people for mentorship and investment.

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ELIGIBILITY CONDITIONS

Below are guidelines on eligibility:

  • Open to all institutions of learning, training and development on the African continent.
  • Student teams must consist of two to five members, where at least two must be enrolled at an African institution at the time of the competition. Interdisciplinary teams are encouraged.
  • Each participating team must have a mentor to work with. Mentors will help guide teams and enrich the learning experience. The ABCC aims to build a community platform for learning–not just a competition but an opportunity for mutual support.
  • GBSN Membership is not required to participate. There is no charge to participate in the competition.
  • All projects must address:
    • A community challenge or need
    • A business solution
    • A viable business concept
    • Implementation and impact of business solution

MERITS

  • Societal Impact: The Challenge presents an opportunity to make an impact on local community problems.
  • Networking: Opportunities with student teams from across the globe, as well as experienced entrepreneurs and industry professionals.
  • Mentoring & Industry Experts: High-caliber, experienced judges, who are experienced entrepreneurs and industry leaders.
  • Structure, Feedback & Guidance: Personalized, individual feedback during the project development process from Team Advisors.
  • There is a $5,000 prize for the first place winner.

SELECTION PROCEDURE

Students will be judged based on.

Problem Framing:

  • Does the team showcase evident research in their solution development and framing of the problem? Is it a viable problem that can be solved by the solution presented? Are there new insights that were previously unknown?

Relevance:  

  • How is the problem relevant to the SDGs/Agenda 2063? Does it make sense in the context of the community?

Business Potential:

  • Is the solution feasible in the selected represented region? Does it include a feasible business growth model?

Innovation:

  • Does the team provide convincing rationale to the actual innovation?  Is the solution innovative? 

Presentation (for live pitches ONLY) Q&A:

  • How effective and cohesive was the presentation? Are the students able to answer additional questions? Are all aspects included in the presentation? 
  • Additionally: Style of presentation, was it well-rehearsed and easy to follow?

PROCEDURES FOR APPLICATION

Each student team looking to participate must apply with all of the following information:

  • Team Name
  • Project/Concept Name
  • Geographical Location for Concept
  • Name and Email for all team members and one Faculty Mentor
  • Academic Level, and Field of Study for all student participants
  • Project Executive Summary/General Topic (500 word maximum)

Application Deadline: March 5, 2024.

The 2024 GBSN Africa Business Concept Challenge

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