The GBSN Africa Business Concept Challenge is a prestigious competition that aims to foster entrepreneurship and innovation in Africa. Organized by the Global Business School Network (GBSN), an international nonprofit organization dedicated to improving access to quality management education for developing countries, this challenge provides a platform for aspiring entrepreneurs to showcase their business ideas and receive mentorship and support to turn their concepts into reality.
The competition invites participants from across Africa to submit innovative business concepts that address pressing social, economic, and environmental challenges facing the continent. These concepts may span a wide range of industries, including technology, healthcare, agriculture, finance, and sustainable development, among others. The goal is to identify scalable and impactful business ideas that have the potential to drive positive change and create sustainable solutions to Africa’s most pressing problems.
Selected finalists of the GBSN Africa Business Concept Challenge are given the opportunity to present their ideas to a panel of judges comprised of industry experts, investors, and business leaders. These finalists receive valuable feedback and guidance to further refine and develop their business concepts, as well as access to networking opportunities and potential funding sources to support their ventures.
The GBSN Africa Business Concept Challenge plays a vital role in nurturing entrepreneurship and innovation on the African continent, empowering aspiring entrepreneurs to leverage their creativity and ingenuity to address critical issues and unlock new opportunities for economic growth and social development. By providing a platform for collaboration, mentorship, and investment, the challenge contributes to building a vibrant ecosystem of entrepreneurship in Africa and empowering individuals to drive positive change in their communities and beyond.
GBSN is pleased to present the 4th annual Africa Business Concept Challenge (ABCC), a virtual business concept competition for African undergraduate and graduate students. The competition challenges student teams to develop a viable business concept that addresses a locally-relevant challenge or problem related to Agenda 2063, and inclusive and sustainable development.
The Africa Business Concept Challenge intends to assist young people from the African continent who have an entrepreneurial orientation, a desire to serve their community, and demonstrate the values outlined below. With a focus on promoting responsible business, the competition identifies high potential young people for mentorship and investment.
Competition Values
- A commitment to the importance of responsible entrepreneurship and its role in job creation
- An international outlook
- A commitment to ethical business practices
- A strong interest in young people in emerging markets and the role that business can play in creating opportunities that enable them to develop
- A belief that business is a public trust with the obligation to improve and serve society
- A commitment to lifelong learning and continuing education
Projects
Student Teams will engage in a three-phased project development process where their business concepts are evaluated and scored by a designated Investor Expert, delivering critical feedback to improve their business concepts. Projects will be accepted that properly identify and define a local challenge and a viable business concept that addresses the problem. For project inspiration, check out last year’s Top 5 Projects!
All projects must address:
A community challenge or need
A business solution
A viable business concept
Implementation and impact of business solution
Benefits Of The GBSN Africa Business Concept Challenge
1. Societal Impact
The Challenge offers a chance to make an impact on local community problems.
2. Networking
Opportunities with student teams from across the globe, as well as experienced entrepreneurs and industry professionals
3. Mentoring & Industry Experts
High-caliber, experienced judges, who are experienced entrepreneurs and industry leaders
4. Structure, Feedback & Guidance
Personalized, individual feedback during the project development process from Team Advisors
Method of Application
- The challenge will be virtual and take place during a 5-week period.
- Teams must consist of two to five members, where at least two must be current students at an African institution at the time of the competition. Interdisciplinary teams are encouraged.
- Each team must have a Captain who will handle communications with GBSN and register the team.
- Each team must have a Faculty Mentor upon registering. Mentors will help guide teams and enrich the learning experience.
Application Deadline: March 5th, 2024.
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