Through the "Sustainable Technology for Africa" (SusTech4Africa) competition, Entrepreneurs for Entrepreneurs (OVO), Chancen International, the Flemish Institute for Technological Research (VITO) and Thomas More University want to stimulate sustainable entrepreneurship in Africa.After successful editions in Belgium for members of the African diaspora and in Uganda for local scale-ups, the partnership will now launch, for the first time, a call for projects in Rwanda.
Do you have a social enterprise that you want to scale up? Do you want to make your business more sustainable? Do you have an idea of new sustainable products or services? You want to elaborate on this but do not know where to start? SusTech4Africa helps companies and entrepreneurs to work out a complete business plan and give you the necessary tools to get started. What's more, as a winner you also get a tailored social loan to make the investment and access to expertise during the term of the loan.
What makes this business model competition unique? For the organizing partners, the competition is only a means to recruit 10 innovative and sustainable entrepreneurs in the Rwanda with the intention to set up a long-term relationship. Through the boot camp, the organizers have the opportunity to get to know the most important factor to become successful, the people behind the project (reliability, mindset, competencies...). Where a pitch event is often the end of the support stage, in SusTech4Africa it is actually the beginning of an intensive collaboration between Rwandan entrepreneurs and Belgian experts.
After the 3-day boot camp in Kigali, the collaboration will continue ‘from a distance’. Belgian experts of OVO Team Investment will interact with you to optimize the business model and develop an ambitious but achievable business plan and a sound financial plan. It will take on average three to six months to become investment ready. Once the investment has taken place, dedicated OVO experts will follow up and supervise the growth of the invested company. Together we will strive for success!
How do we proceed?You can apply online (https://forms.gle/HKASExzhazGF4Lyc6) or send a completed application form by e-mail (firstname.lastname@example.org). A panel of experts will then choose the 10 most promising projects. If your project is part of this selection, you are invited to take part in the boot camp.
During a process of three intensive days you will work out the business plan and focus your pitch. You will be assisted by experts who will give you the necessary tips and tricks. At the end of the ride you may pitch your project to an audience of potential investors. The 3 winners of this competition return home with an investment capital in the form of a social loan and long term access to expertise. This will all take place in Kigali.
To be able to participate in the "Sustainable Technology for Africa" competition, your project must meet a number of conditions:
What are we looking for?
- The business idea includes the use of sustainable technology (resource conservation, reuse and recycling, energy efficiency, minimizing environmental impact, pollution reduction…), or contributes to a transition to a more sustainable society or economy (access to affordable healthcare for everybody, access to education…) through the use of technology,
- The company is profitable or foresees profitability preferably within 3 years after establishment;
- The company creates or is willing to create social impact (create jobs, employ disadvantaged groups, offer needed services/goods for the lower class…)
- The location of the (desired) economic activity is Rwanda;
- The desired investment in your business is maximum 50,000 EUR.
Who can submit?
- African nationals living in Rwanda with a promising business idea, or
- Rwandan start-ups or scale-ups with maximum 5 employees on the pay roll and with at least 50% ownership by African nationals
- want to start up or scale up their business, or become more sustainable,
- have a (preliminary) business plan, and
- are willing to invest at least 25% of the needed investment capital.
- July 06, 2019: deadline for submitting of your application
- July 31, 2019: Announcement selected projects; if your project is selected, you will be invited to participate in the boot camp.
- August 28, 2019: Deadline to pay the participation fee of 70.000 RWF
- September 17, 2019 (8:00PM–10:00PM): Meet & Greet with all the participants and coaches
- September 18-20, 2019 (9:00AM-6:00PM): Boot Camp @ Nobleza Hotel, Kigali
- During the Boot Camp you will be immersed in entrepreneurship for 3 days. With the help of (junior and senior) coaches you will further develop your idea and develop a business pitch. Thanks to the use of coaches and trainers from the private sector, the boot camp is very to the point and hands on.
- Sort of pocket MBA organized around 8 modules
- September 20, 2019 (4:00PM-7:00PM) : Final Pitch Event @ Nobleza Hotel, Kigali
- At this event you will present an elaborated pitch of your business idea to an audience of potential investors. A jury will choose the winners.