NVC offers $55,000 in cash prizes to winning startups

Select startups focused on serving the African continent will gain access to coaching from HBS students, networking opportunities with investors focused on the African continent, and a chance to win over $55,000 in prize money.

Submit application

Learn more

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How it works

Applications open for submission

Applications will be collected until November 15, 2024 11:59 pm EST. Afterwards, submissions will be reviewed and selected based on the criteria provided below in the Requirements and Criteria.

10 semi-finalists will be announced

On December 15th, 2024 the semi-finalists will be notified. Semi finalists will be paired with HBS resources in preparation for the big day

3 winners will be selected

10 semi-finalists will pitch live in front of over 1100 attendees at Harvard Business School on Friday, February 14th, 2025 and 3 winners will be selected.

Winner tiers

10 semi-finalists will pitch live in front of over 1100 attendees at Harvard Business School on Friday, February 14th, 2025

Winner

$30,000

Runner up

$15,000

Third place

$10,000

Requirements and criteria

The 27th Harvard Business School Africa Business Conference will be help on February 14th - 15th with the theme "Beyond Borders: A Myth or A Mandate for Africa's Progress." As part of the conference, the Africa Business Club will be hosting the New Venture Competition which seeks to showcase the diversity of entrepreneurs making a difference on the continent today.
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From the pool of applications, 10 semi-finalists will be invited to pitch their business in front of over 1,000 attendees and receive feedback from a panel of experienced judges. The winner and runner-ups for second and third place will be awarded cash prizes of $30,000, $15,000, and $10,000, respectively.

The application form will be open from October 16th, 2024 to November 12th, 2024. The deadline for submission is 11:59pm EST on Thursday, November 1th, 2024.

NVC semi-finalists will have the opportunity to get feedback, advice, and input from conference participants as well as senior partners at Africa-focused VCs from across the continent.
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Select ventures will also have the opportunity to showcase their companies at the Startup Fair networking and recruiting event and attend networking lunches with distinguished panelists.
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Please feel free to contact us at hbs.abcconference@gmail.com for any questions or clarifications.

Entrepreneurs who offer unique and homegrown solutions to local problems and who meet the following eligibility criteria are highly encouraged to apply:

- All African and Africa-focused entrepreneurs with businesses focused on shaping Africa's future.
- Early stage startups (for profit or not-for-profit)
- Africa-focused with a majority or all of its operations in Africa
- Less than 5 years in operation
- Raised less $1,000,000 in funding to date

The Competition is about assessing the commercial merit and potential viability of each proposed new venture. The judges will evaluate its potential for economic success and the likelihood of achieving that success based upon the team's plan, experience, and the validation of key assumptions and a clear and convincing presentation of the following:
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- The Team (relevance to problem/breadth/depth of skills; ability to execute)
- The Problem (what is it, how painful is it, who is facing it?)
- The Solution (product or service? technology or more analog? has it been done before?)
- The Context & Opportunity (timing, market size/need, ability to penetrate, strong value proposition and business model, regulatory/tax/political and industry context)
- Go-to-Market Strategy - (who is your target customer, how will you acquire and scale?)
- Competitive Landscape - (competitors, Barriers to Entry, Differentiation)
- Risks & Unknowns - (how will you mitigate risks and test assumptions?)
- Financials (How will you generate revenue in the short to longer term? what is your model?)
- Traction & Execution (What have you done so far and still need to do in terms of testing, validation, and growth hypothesis as well as defined milestones)”

NVC Application Form

Will your company be this years winner?

Submit application

2024 Semi Finalist

NVC Application Form

Will your company be this year winner?

I have read and understood the requirements and criteria

Questions

Business Model: Please explain the company’s business model and value proposition. What are the major customer needs/wants that your business addresses? What products or services will the company provide? How do you expect to monetize the product? (200 words max)

Opportunity: Describe your target customer segment and the size of your addressable market. Can the business model be expanded beyond your current city or country? How do you expect this market to grow over the next 3 to 5 years? What sort of market share do you believe your company can achieve over this period? (200 words max)

Opportunity: What is the size of the total addressable market in USD? (please input numbers only)

Revenue: What was your business revenue for the most recent fiscal year? (Please provide US dollar equivalent)

Profitability: Is your business profitable?

YesNoN/A (non-profit)

Proof of Concept: What will “success” look like for your business? Describe status of the business and any milestones that have been achieved (sales growth, profitability, awards, etc. please share numbers when possible). What are the next major milestones / goals for the business? (200 words max)

Metrics: Describe any metrics or key performance indicators (KPIs) of success or traction for your venture to-date. (e.g., monthly recurring revenue, volume of sign-ups or downloads, user metrics, volume of customer meetings, etc.)

Metrics: Describe the kind of feedback that you have received so far from customers/users.

Financials (Optional): Upload a pdf of historical and projected financial statements if available.

Please share a link to a 2 minute pitch explaining: how will your company accelerate Africa leaps and bounds into the next decade?

Fundraising: How much investor funding has your company secured in total to date? (Please provide US dollar equivalent)

Context: Do you benefit from any favorable regulatory, tax, political, or industry trends? Who are your major competitors / substitutes? What is your business’ or product’s competitive advantage vs. these competitors? (200 words max)

Team: What is your total number of employees?

Team: Describe your company’s organizational structure. Please include information on each founder’s previous work experience and how involved each founder currently is in the business. What do you view as the key strengths of each founder and other key employees? What other skills are needed in your team to ensure success? (200 words max)

Team: Please indicate if your start-up has a female founder and/or leader (chief executives only - CEO, CMO, CFO, COO)

If yes, what are their roles?

Risks: What are the 3 biggest risks facing your business, and how do you mitigate them? (200 words max)

Social Impact: Does your business have a positive social impact in your target markets? If so, how? (200 words max)

Please attach your company pitch deck in PDF format

Other information

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NVC offers $55,000 in cash prizes to winning startups

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