SusTech4Africa

In 2018, Entrepreneurs for Entrepreneurs developed the SusTech4Africa (St4A) concept. Through the St4A campaigns, OVO aims to promote sustainable entrepreneurship in African countries. In addition, OVO serves as a facilitator between African and European entrepreneurs, who can build a direct and reciprocal relationship with each other through these campaigns. Meanwhile, OVO organizes annual St4A campaigns in Uganda, Senegal, Rwanda and Benin. 


The process.


1) Project call
OVO targets small sustainable businesses that want to start or scale up. The minimum funding requirement is €50,000 and the business must have the potential to be economically profitable within three years. A local marketing campaign (through local partners and social media) attracts interested local entrepreneurs, who can apply via an online application form.


2) Screening & selection of 12 to 15 participants.
An initial selection takes place based on the application form. A local team of experts (often in partnership with a local university) then short-lists companies/entrepreneurs based on additional information they obtain. The final selection of 12 to 15 projects is made by the OVO - Team Investment in Belgium. The selected participating entrepreneurs must receive an admission ticket to eventually participate in the St4A Boostcamp.


3) Preparatory workshop of participating coaches.
The team consists of Belgian (former) entrepreneurs, who act as senior coaches, as well as Belgian and local students, to promote international cooperation. Under the OVO Talent4Growth Program, Belgian companies can contribute by encouraging their employees to participate in an ST4A Boostcamp, as part of their corporate social responsibility and training program. In Belgium, a preparatory workshop is organized for all participating coaches to align with OVO's objectives and further develop their skills.

 

4) SusTech4Africa Boostcamp.
The St4A Boostcamp is a multi-day bootcamp in the African country on sustainable approaches, business model optimization, financial planning, sales and presentation skills. The highlight of the competition is the prestigious evening where ideas are presented to the judges and potential investors. At the end of the bootcamp, the experts assess the potential of the different projects and the project owners to decide who will be admitted to the next stage.

 

5) Optimization of the business plan of the 3+ winning projects.
After the SusTech4Africa Boostcamp, the 3+ winning projects stay in close contact with the Belgian experts from OVO's Investment Team to further optimize the business model and prepare an ambitious but feasible business plan and financial plan.


6) Complete the financial needs of the 3+ winning projects.
The OVO Acceleration Fund converts donations from individuals and companies into social loans, which the winning projects receive based on their estimated financial needs. In addition, OVO's Sales & Marketing Team offers the projects to a network of business angels and impact investors willing to make a direct investment. Finally, the African entrepreneur is required to contribute 25% of the total loan.


7) Continuous remote monitoring.
Once the actual investment/loan is made, dedicated OVO experts will monitor and guide the growth of the invested company. Potential investors can help with this. Once the social loans are paid off, the money flows back into the OVO Acceleration Fund to support new projects. This allows for future use of initial donations to the OVO Acceleration Fund.

 

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