ACCEL Awards 2019 for Early-stage African Startups (All expenses paid to London, UK + £15,000 Award)
The ACCEL Awards is an annual business start-up contest organised by the London Business School’s Africa Club in collaboration with the Club Alumni and Corporate Partners including FTSE 100 companies, venture capital firms, entrepreneurship incubators and media companies.
Application Deadline: 31st January 2019
Eligible Countries: African countries
To be taken at (country): UK
About the Award: The Africa Club is a student-run club at London Business School. We exist to promote engagement on Africa within the school and with the broader business community, either in London, Africa or globally. Our members are individuals who have either worked in Africa or have cultural or professional interests in the continent.
The Accelawards will be hosted at the Annual Africa Business Summit on Saturday 27th April, 2019. The Africa Business Summit is one of the largest of its kind globally, and the leading forum in Europe for shaping business perspective on Africa’s future. This summit will give the ACCELAwards finalists an unrivalled stage to engage with global business leaders and African professionals.
Eligibility: You need to be an African entrepreneur with a business proposal that has proof of concept. The business needs to be Africa focused or caters primarily to the African market.
Selection Criteria:Each entry will be assessed by a minimum of two judges based on the below 5 criteria.
a. Originality of idea
• Is the start-up a new or novel application of existing knowledge/technology/business model to the Africa region in focus ?
• High scores should be given to start-ups that are not clones of well known business models already existing within the African region
b. Strength of business case
• Is the founder able to articulate a strong business case including target market, pain points and how the start-up is differentiated?
• Does the start-up have clear revenue models and path way to profitability?
• High scores should be given to those applications that demonstrate clear business plan to achieving a profitable business
c. Level of product development
• Is the product or idea well developed and ready for investment opportunities?
• Do they have technology patents, rights, brand ownerships or partnerships already in place?
• Is the product already in the market?
• High scores should be given to those applications that demonstrate well developed products or services that are already on sale
d. Level of business opportunity or impact
• What is the level of potential social impact of the idea in Africa?
• What is the potential size of the market share and profitability
• High scores should be given to those applications that demonstrate scalable social impact
e. Team’s ability to execute the idea and other Intangibles
• Does the team have the right combination of passion? insight? experience? qualifications?
• Do secondary aspects of the application strengthen the likelihood of success e.g. founder’s story?
• High scores should be given to those applications that demonstrate passionate teams with significant expertise in the relevant business sector
Number of Awards: 3 Finalists, 1 Winner
Value of Award:
- Get Unparalleled International Exposure
- Prestigious Brand Partnership
- Global Business Mentoring&Network
- Fully Sponsored Trip to London for the Top 3 Start-ups
- £15,000 in Award Prizes
Presentation of Award: 27th April, 2019.
How to Apply:
- It is important to go through all application requirements on the Programme Webpage see link below) before applying