The ACCEL Awards is an annual business start-up contest organised by the London Business Schoolâ€™s Africa Club in collaboration with the Club Alumni and Corporate Partners including FTSE 100 companies, venture capital firms, entrepreneurship incubators and media companies.
Course Level:Â Entrepreneurship
Eligible Countries:Â African countries
To be taken at (country):Â UK
Eligibility Criteria: 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
â€¢ Is the start-up a new or novel application of existing knowledge/technology/business model to the Africa region in focus ?
â€¢ 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
â€¢ Is the founder able to articulate a strong business case including target market, pain points and how the start-up is differentiated?
â€¢ Does the start-up have clear revenue models and path way to profitability?
â€¢ High scores should be given to those applications that demonstrate clear business plan to achieving a profitable business
c. Level of product development
â€¢ Is the product or idea well developed and ready for investment opportunities?
â€¢ Do they have technology patents, rights, brand ownerships or partnerships already in place?
â€¢ Is the product already in the market?
â€¢ 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
â€¢ What is the level of potential social impact of the idea in Africa?
â€¢ What is the potential size of the market share and profitability
â€¢ High scores should be given to those applications that demonstrate scalable social impact
e. Teamâ€™s ability to execute the idea and other Intangibles
â€¢ Does the team have the right combination of passion? insight? experience? qualifications?
â€¢ Do secondary aspects of the application strengthen the likelihood of success e.g. founderâ€™s story?
â€¢ High scores should be given to those applications that demonstrate passionate teams with significant expertise in the relevant business sector
Number of Awards:Â 3 Finalists, 1 Winner
Value of Award:
- Get Unparalleled International Exposure
- Prestigious Brand Partnership
- Global Business Mentoring&Network
- Fully Sponsored Trip to LondonÂ for the Top 3 Start-ups
- Â£15,000 in Award Prizes
Presentation of Award:Â Â 27th April, 2019.
Method of Application:Â
- It is important to go through all application requirements on the Programme Webpage see link below) before applying
Scholarship Application Deadline:Â 31st January 2019