Kenya StartUp Cup is a local franchise of tried and tested global entrepreneurship competition that aims to stimulate local business growth as a means to stem growing unemployment in the country. It brings together entrepreneurial service providers, seasoned entrepreneurs, political leaders and educationists in effort to accelerate the growth of sustainable new businesses and local entrepreneurial ecosystems.
By participating in Kenya StartUp Cup business model competition, young entrepreneurs are able to tap into a wealth of knowledge and experience of seasoned entrepreneurs, leaders, educators and corporate supporters to boost or start their own businesses.
Kenya StartUp Cup business model curriculum breaks down barriers to the creation of new businesses and moulds entrepreneurs who can launch businesses with significantly less capital and time.Designed with a strong business model coaching approach, Kenya StartUp Cup helps entrepreneurs to accelerate the designing and testing of their business models with customers. Resulting interactions improve the likelihood of generating revenue and building viable enterprises in weeks.
By actively participating in Kenya StartUP Cup business model competition, the country is destined to benefit from increased number of quality new entrepreneurs and startups which translate in new job opportunities and consequent improved livelihoods.
Goal and Objectives
The Kenya StartUp Cup business model competition aims to arouse local innovation by synergizing youth entrepreneurship towards growth and job generation to drive national growth in line with vision 2030
Kenya StartUp Cup objectives are to:
1. Identify and engage entrepreneurs all over Kenya
2. Train entrepreneurs how to build a company
3. Connect entrepreneurs with local and global resources
4. Fund new companies small and large
5. Celebrate the entrepreneurial spirit.
Kenya StartUp Cup business model competition is open to all Kenya nationals of between the ages of 18-35 years starting 8th April-20th May 2014. Applicants are requested to complete and submit the registration form found on The Youth Banner website. Initial judging shall be conducted at county level where winners from all counties in the different categories shall proceed to the next level of competition.
1st selection level – short listing
• Select 188 business ideas from the total expected startups that will participate in the Business Model Competition.
• Train and mentor 188 startups in businesses on business planning and business development.
• Coach 40 successful business plans out of the 188 startups that were trained on business planning and development
2nd selection level - business plan long format competition
12 business plans for each category on
(c) Social Enterprise, and
(d) Green Business
• Coach and mentor 12 successful startups as semi-finalists running up to the final 3 winners
3rd selection level - startup phase
[3 semi-finalists per category as mentioned above]
• Award 3 winners (1st, 2nd and 3rd Startup Cup Winners) and 1 winner for Best on Agribusiness, 1 Winner for Best ICT, 1 winner for Best Social Enterprise and 1 winner for Best Green Business.
• The grand prize to be won is Kshs. 1 million for overall best business model.
Prizes are as follows:
Kenya StartUp Cup business model competition submissions shall be open starting 8th April - 20th May 2014. The competition is open to youth and entrepreneurs between the ages of 18-35 years in the country.
How to Apply
Kenya StartUp Cup is designed to support entrepreneurial growth, expand business and community connections, enhance national and global entrepreneurship activities, and maximize promotional opportunities both locally, regionally, and nationally.
To win, the Kenya StartUp team is looking for novel ideas that offer practical solutions to existing problems in the four category areas.
For more information on KenyaStartUp Cup visit;
facebook page; www.facebook/kenyastartupcup