With over half the population in Zambia being under the age of 35, seeking jobs to make ends meet but not finding any, it’s not surprising that many are opting to start their own businesses. Most startups find it difficult to raise their initial capital and this is where initiatives like the Zambia 2050 Business Plan Competition come in.
The competition will give a top prize of $6000 (or the Kwacha equivalent at the time) to the best business idea and the winner will be named 2015 Entrepreneur of the Year. There will also be a year-long mentoring session given to 10 young Zambians with the best business ideas that work well for the community, by a mentor based in the United Kingdom or within Zambia.
To enter the competition, follow the instructions here. The 10 startup entrepreneurs who will be chosen from the applicants will then be invited to the Zambia 2050 Business Conference in August where they will make 5 minute presentations of their business plans to a panel of judges who will then award the best idea. The winner will receive the prize money of $6000 or its Kwacha equivalent in two payments made out in a year.
To be eligible to enter the competition, applicants must be between the ages of 18 and 36, and their business may either be running with not more than 4 employees or still just a plan on paper.
We hope some of the plans are technology based. You can contact the initiative directly on Facebook on their page here or using the details provided on their website here.
A similar initiative was started by PEP Zambia called Nyamuka which invited business ideas from all over the country for a grand prize of K250, 000. Read more on that competition here.
3 thoughts on “The Zambia 2050 Business Plan Competition for startup entrepreneurs”
Bravo to the Zambia 2050 business plan competition organizers. Please I am begging you, do not make this the first and last competition of this kind. Essay writing completion are good but this is excellent. The motivation is so encouraging and a brain buster to participants. This one will enable us how clearly young Zambians think. We are tired to scratch and win kind of competition. Young Zambians, I urge you to go for this competition. Organizers make it bigger and advertize it widely next time.
Great that such a competition has come. Many youths have brilliant business ideas but luck capital to turn those ideas into business ventures that could create employment to others.
My advice is that let collateral be the major bench mark of this competition. Your judgement should be based on innovation and uniqueness of the business idea and it’s ability to create wealth for the majority in the community.
The time the competition was advertised is too short for something this grand please consider extending the deadline for entries to 17 th to allow more participants
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