Deadline: 30-Sep-20
Do You know any creative, Gifted And Innovative Young Entrepreneur who is based in Ekiti with business Ideas that can scale beyond Ekiti local market to a National & Global Market? Then, definitely this call is for you!
Ekiti Enterprise Challenge (EEC 2020) is a Social Impact Driven Community based enterprise Pitch competition designed to be an annual event for Brilliant Creative, Gifted, Talented and innovative entrepreneurs who resides and are established in Ekiti Communities with business ideas which have potential to create decent work and sustainable jobs, grow exponentially and scale beyond Ekiti local Market to a National and Global Market.
The vision and impact deliverable of Ekiti Enterprise Challenge is to identify, discover, support and mentor creative and innovative young Ekiti entrepreneurs with business ideas that have potential to grow exponentially beyond Ekiti Local Market and scale up their market reach.
Objectives
The objective of EEC is to support identified business with knowledge, skills and funding to enable them compete and expand profitably in their local area of operation. Through this intervention we envisage the following Impact Deliverables:
- Identify local sustainable business with potential for scalable and exponential growth capable of boosting local economies and creating sustainable jobs
- Showcase winners as champions and role models for other aspiring entrepreneurs in Ekiti Communities
- Lead to the support and development of sustainable enterprises that will generate wealth and create sustainable job opportunities in Ekiti State.
- Encourage and Empower identified businesses to grow, blossom and improve livelihood of the business owners.
- Develop and fund ideas that could help project Made in Ekiti Products and Services to the world
- Promote Healthy competition among entrepreneurs by exposing participants to the application of business tools and provide opportunity for participants to re-evaluate their business for gaps and prospects
- Build capacity, Develop participants’ entrepreneurial skills and help them in reviewing their business plan, SWOT Analysis, PESTEL, BEA, Profitability Rations, Balance Sheet and Cash flow and other business tools for their ongoing assessments.
- Link entrepreneurs to the various financing and investment opportunities and foster a vibrant entrepreneurial ecosystem
Categories
- Innovation Technology
- Agriculture & Food Processing
- Fashion Designing
- Tourism, & Hospitality
- Art & Crafts
- Shoes and Leather Works Production
- Furniture & Upholstery
- Interior Designs & Decoration
- Confectionaries & Event Management
- Entertainment & Music Productions
- Green Enterprises, Waste Management & Recycling
Funding Information
- The winning enterprise will receive a Grant Prize of One Million Naira (N1, 000,000)
- 3 runner ups will awarded consolation Prizes of Five Hundred Thousand Naira (N500, 000), Three Hundred Thousand Naira (N300, 000) and Two Hundred Thousand Naira (N200, 000) respectively.
Criteria
- Clarity Business Model
- Potential for scalability & exponential growth
- Market demand beyond local market
- Have potential to scale beyond local market to national and global market
- Well defined Sustainability plan
- Well defined corporate Governance and Operational management structure
- Potential for positive Social and Community Impact.
- Financial Viable & Sustainable
- Leadership & Capacity to deliver the proposed business value propositions
- Community & Social Impact
Review of Application
In October 2020 Submitted application will be reviewed and background check will be conducted by a board of Screening Committee to select the 50 best application that will be invited to a 5 Days Enterprise Development & Mentorship Program where they will be groomed and prepared for the Final stage of the Pitch Competition
For more information, visit https://ekitienterprisechallenge.org/
