Are you a food startup operating in Africa or a black-owned food manufacturing business in the US? Your chance for your business growth is here!
The IDEA pitch competition was launched by the African Business Club in 2022. Building on the success of the inaugural event, the Club is organizing the 2023 edition with the addition of a mentorship program to support finalists of the competition. The pitch competition is an initiative targeting new and upcoming African entrepreneurs on the African continent and black-owned entrepreneurs based in the United States. The 2023 edition is targeting players in the food industry. The business pitch would represent the original work of the team members and demonstrate how the idea supports their business goals.
Eligibility
Participants will present their business ideas in the form of a business pitch, and to be eligible to participate, participants must meet the following criteria.
The business pitch must represent the original work of the team members. The author(s) shall retain all rights to the business pitch regarding its use prior to and following the competition. The business pitch must not contain any fabricated information about (but is not limited to) the background, experience, or education of the management team, the stage of product development, product performance claims, or market survey results.
The competition is open to African entrepreneurs based in Africa and black-owned entrepreneurs based in the United States. This must apply to at least one member of the management team, but other people may be members of the management team and participate in planning the venture. A participant may submit only one business pitch to the competition.
The competition is for African entrepreneurs who created, managed, and owned ventures in Africa or black-owned entrepreneurs in the United States. In other words, African entrepreneurs must have played a key role in creating the venture, have key management roles, and own significant equity.
The competition is for new ideas and business development, with the goal of helping businesses registered for at least 6 months to access additional funding. Companies must be less than 5 years old at the time of submitting their application.
The competition is an initiative for new and upcoming African entrepreneurs on the African continent. Teams should respect the rights of their opponents. The Africa Business Club. @Kelley (ABC @Kelley) reserves the right to disqualify teams who act unprofessionally.
Prizes
1st place: $2,500
2nd place: $1,500
3rd place: $1,000
Guidelines
The business pitch is limited to 7 pages maximum (12-point font) of text, excluding the cover page, title page, and exhibits.
The business pitch must follow the ABC @Kelley 2023 Business Pitch Format.
All eligibility criteria can be reviewed by ABC @Kelley on a case-by-case basis for exceptions.
Evaluation Criteria
After reading the business pitch, the reader should be able to understand the business idea. The business pitch will be evaluated based on three main factors:
