GBSN is delighted to announce the 4th annual Africa Business Concept Challenge (ABCC), a virtual competition for business concepts designed for African undergraduate and graduate students. This challenge encourages student teams to create a practical business concept that tackles a locally significant challenge or issue related to Agenda 2063, emphasizing inclusive and sustainable development.
The Africa Business Concept Challenge aims to support young individuals from the African continent who possess an entrepreneurial mindset, a commitment to community service, and exemplify the outlined values. Emphasizing responsible business practices, the competition identifies promising young talents for mentorship and investment.
Values of Competition For Africa Business Concept Challenge:
- Dedication to the significance of responsible entrepreneurship and its contribution to job creation.
- Global perspective.
- Adherence to ethical business practices.
- Strong interest in youth in emerging markets and the potential of business to create opportunities for their development.
- Conviction that business is a public trust with the responsibility to enhance and serve society.
- Commitment to lifelong learning and ongoing education.
Students will participate in a three-phase project development process. In this process, their business concepts will be evaluated and scored by a designated Investor Expert, who will provide crucial feedback to enhance their business ideas. Projects will be considered if they correctly identify and define a local challenge and propose a viable business concept to address the problem. For inspiration, you can refer to the Top 5 Projects from last year.
Aspects To Tackle In Africa Business Concept Challenge
- Address a community challenge or need.
- Propose a business solution.
- Develop a viable business concept.
- Evaluate the implementation and impact of the business solution.
- Highlight the benefits of the proposed project.
Key aspects of participation include:
- Societal Impact: The challenge provides an opportunity to address and make an impact on local community problems.
- Networking: Participants will have opportunities to connect with student teams globally, as well as experienced entrepreneurs and industry professionals.
- Mentoring & Industry Experts: High-caliber judges, experienced entrepreneurs, and industry leaders will provide guidance and feedback.
- Structure, Feedback & Guidance: Participants will receive personalized, individual feedback during the project development process from Team Advisors.
The competition will be virtual and will occur over a 5-week period. Teams should comprise two to five members, with a requirement that at least two members are currently enrolled students at an African institution during the competition. We encourage the formation of interdisciplinary teams.
Every team is required to designate a Captain responsible for communication with GBSN and team registration. Additionally, each team must secure a Faculty Mentor upon registration. Mentors will assist in guiding teams and enhancing the overall learning experience.
For more details, please visit the official webpage of the GBSN Africa Business Concept Challenge.