Business Plan Competition Burundi 2014
In Phase 1, students submit innovative business ideas in 250 words. The three best ideas per university win £200. In Phase 2, these ideas are developed into 1500-word plans for businesses with a positive social impact. The winner is awarded £2000 as seed funding to start their business.
January 2014 - July 2014
African Innovation Prize
Just like in the UK, universities in Sub-Saharan Africa are a hotbed of young visionaries with innovative ideas, with the crucial difference that these ambitious business leaders of the future did not have the tools and resources to put those ideas into practice and bring about long-lasting social change. Their creativity also required training, funding and mentorship.
We realised that solving this problem is a simple matter of unleashing these students’ potential by bringing them into contact with local business leaders who could show them the best way to plan and start a business and by providing seed funding to a selection of social businesses. In the long-term this kind of entrepreneurial spirit would be key in achieving sustainable growth in Sub-Saharan Africa and that’s an effect we aim to spread throughout the continent.
To provide students with training in social entrepreneurship and in coming up with a business idea.
Activities» We begin with a workshop addressing 'What is entrepreneurship?' to inspire students to start thinking about innovative ways to address social problems
» The second workshop deals with writing an effective business plan so students can develop their initial ideas into something more practicable.
» The third and final week-long training session will be entitled 'Enterprise Burundi' featuring speakers from the local business community.
The success of our training initiatives will be evident from the number of participants and the number of submissions we receive for our business plan competition.
To provide funding to innovative business ideas
Activities» We will provide £200 to the three best business idea (outlined in under 250 words) entries from each university.
» We will provide £2000 as seed funding for the best business plan (outlined in under 1500 words) entry from each university.
The success of this initiative will be evident from the number of business plans that get registered and how they fare in achieving their aims.
The long-term effects of our project will be manifold. Firstly, we will create new business leaders who will have access to the resources to create effective social change. Secondly, that social impact will be evident in the success of those businesses and how they succeed in alleviating poverty and solving social problems in their local area.
The main risks involved in this project are on-the-ground logistics and attracting enough interest from students and participants. We have addressed these risks by hiring our first full-time employee in the form of a Rwanda Country Director. Our Country Director will be able to travel to Burundi to takes care of advertising our workshops and in promoting it among various institutions. He also mentors winners to ensure effective use of the seed funding.
We will provide a quarterly newsletter to all donors, detailing the activities we have carried out during that period and the challenges have encountered and achievements we have made.
Budget - Project Cost: £7,850Loading graph....
Amount Heading Description £2,600 Winners awards Prizes awarded to for 3 business ideas (£200 each) and 1 business plan (£2000) in 3 institutions. £5,250 Training Three workshops and 'Enterprise Burundi' week.
Current Funding / Pledges
Source Amount Foreign and Commonwealth Office £5,000 Guaranteed
Burundi is a country that is slowly recovering from many years of civil war. Part of this recovery is creating the next generation of business leaders in order to tackle social challenges brought about by the conflict. AIP aims to support this process by encouraging and funding social entrepreneurship in the country's higher education institutes.
The direct beneficiaries of this project will be Burundi university students who will be given the opportunity to unleash their entrepreneurial potential during workshops and training initiatives and then given the support to put their ideas into practice. The indirect beneficiaries will be those in the winners' communities who experience the positive impact of their newly-established social businesses.
African Innovation Prize now has four years' experience in conducting training initiatives and business plan competitions in two Sub-Saharan Africa; Rwanda and Sierra Leone. Our directors all have backgrounds in development, innovation and management and have used their skills to create a solid base for our organisation. With an on-the-ground presence in Rwanda and the potential to scale up our UK presence, we believe we have the experience and capacity to successfully complete the project.
Read more about the Charity running this project.
Hervé is AIP's Rwanda Country Director and will be in charge of logistical and promotional activities for our training and business plan competition.
Roland is a Rwanda-based advisor for AIP and will soon become one of our trustees. He will be well-placed to oversee our activities in Burundi.