In an effort to build an economic boom for more than 1.3 billion Africans, Africa Startup League has announced an innovative competition for young entrepreneurs across the continent.
The competition, which commences February 8, 2023, is open to innovators, entrepreneurs, micro-enterprises and early-stage start-ups.
With the funding prize of $1 million, the contest is open to innovators, entrepreneurs, micro-enterprises and early-stage start-ups.
The competition, which takes up to six months, will enable innovators and entrepreneurs to showcase their innovative products.
Speaking on the competition, Mr. Aly Ramji, the Co-Founder and Managing Editor of Web3Africa and key partner in the Africa Startup League, said: “Rather than being left to fend for themselves, Africa’s tech startups would benefit from networks that connect founders, tech hubs, universities and government bodies to assist in the identification of business opportunities, overcoming skill shortages and attraction of the required talent.
“The Africa Startup League gives young business people in Africa the opportunity to demonstrate their skills and innovations, while facilitating a more effective strategy for addressing Africa’s challenges and increasing the size and viability of their own companies.
“The hope is that the ASL (Africa Startup League) will create an enabling environment for young African entrepreneurs to take part in this unique competition because the startup ecosystem in Africa is not well linked.
“Founders often do not have access to the support, guidance, openings and information sharing that are essential to their continued existence.”
Judges chosen from various fields across Africa, as well as people across the Web3Africa community, will vote on the best startups, which will be evaluated based on criteria such as innovation and impact to the larger African communities.
The aim of the initiative is to create a matchmaking of sorts, allowing startups to acquire the initial seed-funding, mentoring and training to scale their businesses.