Organisers of the forthcoming annual business competition of the African Economic Congress (AEC) says over 1,000 participants from all over the continent will be at this year’s edition of the televised virtual congress slated for November 2 to 4, 2020.
The African startup challenge is an entrepreneurship sustenance body of the economic congress tasked with discussing business development issues relating to startups and small enterprises.
The main theme of this year’s challenge will be; “Improving Africa’s Business Community through Technology.”
“Every year, here at the African Economic Congress, the best start-ups are introduced to the world. It is yet another opportunity to reach a higher level,” the organisers said in a statement that was issued.
In order to build jobs and boost livelihoods in Africa, the AEC start-up challenge seeks to infuse a culture of creativity and foster innovations, it said.
The expected outcome of the competition is to select winning ideas that can lead to new products, programmes, projects, processes and to engage young entrepreneurs eager to tackle the challenges they face as well as global challenges through “smart solutions” that transform the economy of Africa and the world.
According to the programme of the planned event, application has been opened to small and medium businesses since Monday, 4 October, with a short summary of startup ideas, detailing plans on profitability. The application closes on 21 October.
“This Year, new business ideas shall compete for the attention of the audience and investors, while presenting business ideas to potential investors, collecting valuable feedback as well as gaining organizational and financial support,” the AEC stated.
The event is designed to help participants get the opportunity to seek the advice of mentors and consult experts on the validity of business concepts, and also to learn the latest from the technological sector and meet the disruptor of the tech industry.
In a bid to build transparency, the African Economic Congress has partnered with Ventures Park to provide expert coordination and selection. Ventures Park remains a leading source of capacity building, support, capital, and advocacy for entrepreneurs, enabling them to enhance the creation of wealth and development in Africa.