Financial Assistance for Young Entrepreneurs: The Business Daily, a publication of the Nation Media Group, has launched an ideas competition that will discover Kenya’s top innovators and link them up with venture capitalists for financial and management backing they need to develop into profitable enterprises.
Known as “The Next Big Thing” the competition targets Kenyans with big entrepreneurial ideas, but without the money to get them started in the marketplace.
The Nation Media Group has teamed up with Kenyatta University — the knowledge partner and Enablis Africa — the logistics partner to execute the plan.
The contest is open to innovators from all parts of the country and will specifically target young entrepreneurs in high school, colleges and universities.
Innovators will submit entries to any of the 12 categories, including agribusiness, ICT, manufacturing, transport, tourism, green business and ecology, and energy.
Entries can also be made in sports, leisure and entertainment, health, transport as well as marketing.
Innovators can present only one idea for each category.
At close of the submissions, a panel of specialists will pick the best 20 ideas and present them to Kenyatta University’s (KU) incubation centre for training on how to package and present the ideas to potential financiers or mentors.
The five-member selection panel of made up of a banker, investors and an entrepreneur will choose the winning applications based on originality of the idea, its potential to change lives, commercial viability as well as a clear explanation of the skills required to implement it.
Apart from linking the innovators to financiers and mentors, The Next Big Thing is the Nation Media Group’s contribution to the ongoing search for solutions that can help resolve Kenya’s top most social challenge — mass unemployment among the youth.
Submissions of entries can be done on-line from the competition’s website: The Next Big Thing: Financial Assistance for Young Entrepreneurs