ARE YOU AN ENTREPRENEUR IN CAPE TOWN? THEN THIS COMPETITION IS FOR YOU!
In the city of Cape Town, South Africa, applications for the second edition of the YouthStartCT Entrepreneurial Challenge, hosted by the City of Cape Town have opened. The exciting news for tech entrepreneurs is that this year’s edition includes a digital solutions category targeting tech-focused entrepreneurs. The first edition of the competition resulted in three winning teams earning prize amounts that in total amounted to R200,000 and business support to either further develop their business, or to see their business set up ideas become a reality.
The aim of the competition is to aid in business skills development, as well as innovation and growth in entrepreneurship within Cape Town. The Member for Safety & Security and Social Services of the City’s Mayoral Committee, in an interview for Techloy Magazine, commented in a gist that the success of a business does not rely solely on the injection of capital. Rather, training and mentoring from those who have been successful before can propel an individual to development and a business to success.
Anyone with an existing business or a start-up idea that can become a sustainable business, between the ages of 18 and 35, who is a South African citizen is eligible to apply. There is an emphasis on the ability of your business to be sustainable in the long term.
During the first phase of the competition, 100 entrepreneurs will be selected out of all applicants and offered 10 weeks of after-hours mentoring and training to help them tailor and adjust their products to the market. Subsequently, 20 will be selected of the 100, and then 10 to participate in the final event, known as “Demo Day”. From the finalist 10, the top 3 will be selected and announced at an award gala where they will win various prizes and business support.
To apply for the challenge simply click on the link: YouthStartCT Application. If you have a view on how more of these types of programs may promote entrepreneurship throughout the whole continent of Africa, feel free to leave a comment below.