Business plans have been gaining popularity because they can be extremely effective tools for allocating funds to small businesses that show potential to scale. Business plan competitions are effective because they help governments, Corporates, Foundations, and NGOs decide which firms to “bet on:”
Even though governments and donors have resources and good-will to invest in enterprises, they often lack the means to pick the highly efficient ones. Therefore, business plans can help them do that. At the same time, contenders who participate in these competitions are more likely to be successful employers.
Below are reliable entities/sites that regular call for/host Business Plan Competitions:
1. MbeleNaBiz
The MbeleNaBiz business plan competition (“MbeleNaBiz”) is an initiative of the Government of Kenya, under the Kenya Youth Employment and Opportunities Project (KYEOP). MbeleNaBiz aims to expand new and existing youth-led enterprises by providing them with grant funding and/or business plan training. MbeleNaBiz is implemented by the Micro and Small Enterprises Authority (MSEA) and the Ministry of Public Service, Youth and Gender Affairs (MPYG), with support from the World Bank. KPMG has been contracted to manage MbeleNaBiz.
https://mbelenabiz.go.ke/about-competition.php
2. Somo Africa
Somo is the root of a Swahili word meaning "lesson". Somo is a 501(c)(3) non-profit and pledges that
100% of donations go to funding visionary entrepreneurs from marginalized communities around the world.
3. Sinapis
Sinapis has annual Business Competition showcasing some of the strongest companies that emerge each year. Finalists prepare for weeks to distill their dreams for their business into an 8-minute pitch. An independent panel of distinguished Kenyan investors and entrepreneurs ask probing questions to assess each opportunity.
4. Growth Africa
GrowthAfrica accelerates ventures in and into Africa - and across the continent by assisting companies seize and develop business opportunities in Africa.
5. TechnoServe
TechnoServe helps people lift themselves out of poverty by harnessing the power of the private sector. A leading nonprofit organization operating in almost 30 countries, they work with hardworking women and men in the developing world to build competitive farms, businesses, and industries. By linking people to information, capital, and markets, they have helped millions to create lasting prosperity for their families and communities.
6. Invest2Impact
Invest2Impact is a program created with the aim to provide women entrepreneurs in developing country markets with improved access to leadership opportunities, quality employment, finance, enterprise support, and products and services that enhance their economic participation. The program emerged from 2X Challenge, a commitment to formally mobilize USD $3 billion in capital towards women economic empowerment from key Development Finance Institutions (FinDev Canada, CDC, UK Aid Direct, PROPARCO, OPIC and Mastercard Foundation) committed to a reducing gender inequality.
7. African Germany Entrepreneurship Academy - AGEA
As part of its mandate, the AGEA network collaborates with dedicated academic and business partners in Africa and Germany to promote practice-oriented entrepreneurship education, entrepreneurship promotion and developing business start-ups for Africa. One of the flagship products that AGEA delivers is its annual AGEA Business Idea Competition (ABIC). ABIC is organised to reach out, identify and support innovative entrepreneurial solutions to African challenges by African students, entrepreneurs, academics and researchers within the AGEA network and beyond.
8. Hult Prize!
With a $1,000,000 global startup prize as its anchor activity, the Hult Prize has brought impact focused programs and training to over a million students globally, creating a pathway for youth everywhere to build a better world.
9. D-Prize
D-Prize supports new entrepreneurs who distribute proven poverty interventions.The world has already invented products and services to end poverty. Yet there are dozens of proven interventions with large delivery gaps. Millions of people still don’t have access.
10. Other relevant sites to subscribe to include:
i. https://www.advance-africa.com
ii. https://www.opportunitiesforafricans.com
iii. https://fundsforcompanies.com
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