2020 Diaspora Challenge for building Scalable Business Solutions to Social Challenges in Africa
Deadline: 30 June 2020
Applications are now open for the 2020 Diaspora Challenge to mobilise the Diaspora community to build scalable business solutions to social challenges in Africa.
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Thematic Areas
The challenge is seeking business ideas that make an impact in these 3 critical sectors:
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Education: How might they harness the potential of technology to bridge the education gap and unlock the potential of the young people of Africa?
FinTech: How might they connect the unserved & underserved population in Africa to affordable financial services using readily available technology?
Energy: How might they use technology to effectively distribute clean and affordable energy to homes & industries across Africa?
Benefits
Prototype Funding: $15,000 per idea to fund prototype development.
Business Advisory: Provide insight in support of strategic planning & execution.
Seed Investment: On the path for up to $250,000 seed investment from Growth Capital.
Market Access & Network: Connect to strategic partners in African countries to support market entry processes.
Mentorship: Connect to mentors to provide honest & constructive feedback as well as industry guidance when necessary.
Eligibility Criteria
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Here’s a checklist to evaluate if your idea is suitable for the Diaspora Challenge:
Does your idea solve a clear problem/issue that affects a large number of people in Africa?
Does the idea improve on an existing process/solution or is it completely new i.e. hasn’t been done locally?
Does your solution leverage digital technology (web or mobile) for its execution?
Have you taken time to research the problem/issue and have a clear picture of the target segment it affects?
Do you have (or have access to) the skills to implement your proposed solution?
Are you prepared to spend the next nine (9) months building the solution and going out to understand your potential uses?
The Challenge is opened to African Diaspora currently based in the UK.
Both groups and individuals are welcome to submit ideas.
For more information, visit http://diasporachallenge.com/index.html