UNDP: Entrepreneurship Competition in Equatorial Guinea

Deadline: 11-Apr-22

The United Nations Development Programme (UNDP) and the Ministry of Transport, Post Office and Telecommunications called the GUINEA ON Contest to support the initiatives of young girls and boys for entrepreneurship in the New Technologies and Innovation Sector.

Girls and boys graduated from the Higher Institute of Telecommunications, Information Technologies and Communications (INSTTIC), as well as girls and boys graduated from the Computer Management career of the National University of Equatorial Guinea (UNGE) will be able to participate in the contest. ), and those girls and boys graduated in higher studies related to Communication and Information Technologies from any educational center recognized nationally or internationally.

These business ideas should make it possible to achieve the results linked to product 3 of the Equatorial Guinea Digitization Support project, which indicates that “Young entrepreneurs, particularly women, have access to financing to promote their businesses within the technology sector.

In particular, the GUINEA ON initiative is linked to the following scheduled activities:

Development and training of young entrepreneurs to access microcredit, connect their solutions and receive advice and guidance from experts.
Financing of innovative technologies and digital governance solutions for young and women entrepreneurs.

The Target Public of the Competition is young Equatoguineans (<40 years old) of both sexes, who prove they have completed higher or technical studies in the field of Telecommunications and/or Computer Science, certified by a nationally or internationally recognized educational center.

Benefits

At the end of the competition, UNDP will award grants of up to $10,000 (XAF 5,900,000) to the Business Plan proposals that best meet the above criteria. The promoters/participants of the selected Business Plans will receive the indicated subsidy to be used for:

Creation and authorization of a young technological company (start-up)
Investment according to financial strategy contained in the Business Plan

Duration: The duration of the grant is from May 1 to June 30, 2022.

Criteria

As agreed with the Ministry of Transport, Post and Telecommunications, the requirements for participation in the incubation Phase of the GUINEA·ON Contest are as follows:

The contest is open to Equatoguinean nationals over 18 years of age and under 40 years, residents in any demarcation of the national territory.
Be part of the group of entrepreneurs (minimum 3) that submits a Business Plan proposal within the required timeframe and form.
Interested parties will have 11 DAYS to formulate (for groups with a minimum of 3 participants) and submit their Business Plan proposal of Company, from the publication and launch of this process.
A project can be selected if it reaches a minimum of 70 points out of 100. Any project below 70 points will be eliminated.
It will be especially valued to have been trained in the PREINCUBATION Phase of GUINEA ON by INSTTIC, according to the definitive list provided by the institution, as well as having passed the tests and obtained the CISCO SYSTEMS Digital Entrepreneurship Module Diploma (must be accompanied copy of the Certificate/Diploma at the time of proposing a Business Plan).
The committee will choose the 10 projects that achieve the highest score.

Required Documentations

Interested parties must submit their proposal with the following documentation: