The New York Forum Institute has announced the extension of the African Startup award to the 31st of July.
Africa has ideas and talent but African start-ups lack access to capital, especially in the first phase of development.
In 2014, the first Train My Generation Survey undertaken by the New York Forum AFRICA with the Train My Generation vocational training fund established by the New York Forum Institute in 2013, highlighted this point: 56% of the 5,000 young African respondents to a recent survey conducted by the New york Forum Africa in 2014, pointed to their difficulty in finding funding.
In this context, Richard Attias, founder of the New York Forum Institute, initiated the African Start-up Award in partnership with France 24 and Le Point Afrique, the on-line edition of Le Point dedicated to Africa that was launched in March 2014.
The Award will support talent and the most creative initiatives, particularly those with a social impact component.
Qualification Criteria:
- The start-up must be an independent company formed less than three years ago with a year of activity
- 100% of the capital is provided by African nationals
- The start-up’s activity is based in Africa
Startups will be judged by a panel of African Business Leaders in four areas:
- Innovation
- Development potential and scaleability
- Business viability
- Social impact
The grant of €100,000 is to be allocated among 4 laureates as follows:
- 1st prize: 50,0000
- 2nd prize: 30,000
- 3rd prize: 20,000
- 4th prize: €10,000
For more information about the award, please click here
