The contest is for young African and Indian entrepreneurs under the age of 35 with business or social venture ideas. The ideas can either be around commercial business or social venture which can create value and disrupt the industrial or social sector in India and Africa.
The contest will help in creating a platform for talented young Indians and Africans to exchange ideas about shared solutions for shared challenges in the two geographies. Each one can learn from current realities, culture, successes and challenges, and explore future collaborations in business. Send your submission fast as the last date for entries is April 15, 2014.
Africa is the second-most populous continent with around one billion people, or 15% of the world's population. India, on the other hand, is the second most populated country with 17.5% of the world's population.
When we are talking collaboration between Africa and India for a shared future, we are talking about 33% of the world’s population. According to Wikipedia, record bilateral trading between the two is expected to reach US$ 90 billion by 2015. As of 2011, India has emerged as Africa's fourth largest trade partner behind China, EU & USA while Africa has emerged as India's sixth largest trading partner behind EU, China, UAE, USA & ASEAN.
"Entrepreneurial solutions to address developmental challenges"
The contest winners will bag attractive cash prizes and a chance to get recognized at an international platform. The Prize includes:
INDIAFRICA Cash Prizes of Rs. 50000 each for the Top 20 teams (10 each from Africa and India)
Trip to Accra for the Finals for one member each from the Top 8 teams (4 each from Africa and India)
Trip to Davos during the World Economic Forum Annual Meeting 2015 for one member each from the African and Indian teams winning Top Honours at the Finals in Accra, Ghana
Two WOXSEN INDIAFRICA Prizes of Rs. 750,000 each for the First ranked teams from Africa and India from the Finals at Accra, Ghana
Chance to win The Indian Angel Network INDIAFRICA Prize for one African or Indian team from among the Top 8 – Incubation, Mentoring and Equity Investment in the selected venture.
Chance to win The GSF India INDIAFRICA Prize for one African or Indian technologoy venture from among the Top 8 – for an Investment Committee (IC) review for its Accelerator Programme. If selected by the IC, the venture will receive equity investment and be part of a 10 week accelerator/mentor programme.
Selection for final round of interviews for the unique GSF Global and GSF Impact Accelerator Programmes for deserving African and Indian technology ventures.
The Villgro INDIAFRICA Prize for one or more Indian social impact ventures from among the Top 8 – for their Entrepreneur-in-Residence, Social Entrepreneur and Enterprise Development or incubation programmes. The winner(s) will receive intense support in establishing a viable social enterprise, benefitting from business mentorship and networking.
The africa.com INDIAFRICA Prizes for the top ranked Indian and African teams - US$ 1000 worth of website creation and web management services for one year.
3-year subscription (worth US$2500) to the Oxford Business Group Online Library upon registration.