The SmartStart Start-up Challenge is a competition that encompasses all aspects of building a business, including assembling a management team, formulating a business plan, and developing core product technology. The competition includes an
Elevator Pitch Competition, a full business plan submissionand, a live finals event in December at the SmartStart Business Show
WHY SHOULD YOU ENTER THE COMPETITION?
Applicants with an idea for a new business venture of any type are encouraged to enter. Why? By entering, you will:
Learn how to present your idea to potential in five minutes and sharpen your communication skills.
Get feedback from business experts on the quality of your business idea
ENTRY REQUIREMENTS
The initial requirement is a written business idea of no more than 100 words.
ELIGIBILITY Entrants
The contest is open to both aspiring business owners. Applicant must be an undergraduate, a graduate or a postgraduate seeking to run a successful business.
Ideas
To be eligible for Startup Challenge, each submission must meet the following criteria:
It must seek to create social value and impact in a significant and sustainable manner. The idea may involve a nonprofit, for-profit, or hybrid model venture, as long as social impact is central to its mission and operations.
It must seek to advance an idea and organization at a very early phase.
THE PROCESS
The competition will take place in three rounds:
Round I Write for Good. The first round of the competition will be based solely on written business ideas, which must be submitted via post, or fax. The judging will be completed by YES-GHANA Business Probing team (THE PROBE). A maximum of 200 applicants will be shortlisted to enter into round two.
Round II Entrepreneur Test - The second round of the competition will take place before the SmartStart Startup Show on 10-11 December, 2009. The test will give us some insights on whether the applicant would be a success at starting his/her own company and whether the applicant would be happy with this type career path. A maximum of 24 applicants will be selected to enter into the round of the competition.
Round III Pitch for Change! The third and final round of the competition will also take place during the SmartStart Startup Show. Finalists will have two minutes to pitch their ideas to the judges and an audience of 1600. (Note: Finalists will have the opportunity to use up to four PowerPoint slides during this final round, but the slides must be submitted to Startup Challenge coordinator. The panel of judges will ask the finalists questions following their presentations, and then the judges will select First Place, Second Place, and Third Place winners in front of the live audience.
JUDGING CRITERIA
Throughout all rounds of the competition, judges will assess ideas according to these criteria:
Innovation: The level of creativity of concept and model.
Potential Impact: The potential scale and influence of the project on the identified social problem.
Viability: The potential for the idea to become a sustainable organization, practically and financially.
Presentation: The clarity, uniqueness and persuasiveness of written and/or verbal presentations.
AWARDS:
First Place:
GH¢3000 + a trip to Young Leaders Forum in Berlin
Second Place:
GH¢2000
Third Place:
GH¢1000 Download Yes-Ghana, SmartOne to One Advice (PDF)
