Innovative university students stand to win Rwf20m in MTN entrepreneurship contest

Rwandan innovative university students and recent graduates stand a chance to win $25,000 (about Rwf19.5 million), thanks to the ongoing MTN Entrepreneurship Challenge powered by Jumia competition. Targeting over 60 universities in 13 countries across Africa, the competition will challenge students to develop a unique digital application or smart solution that will solve a tangible problem faced on the continent, the telecom said in a statement on Monday. The contest is being conducted in partnership with the MTN Solution Space and Jumia. It is the first Pan-African competition, and will bring together over 1,000 entrepreneurs, students and investors to collaborate on ways to amplify and consolidate the continent’s entrepreneurs. “Africa is full of promise, and our aim with the MTN Solution Space is to help fulfil this promise by developing uniquely African solutions... We believe that the entrepreneurship challenge is a key element of this. The response and willingness from universities across Africa to collaborate on this initiative exemplifies the impact of collective efforts to foster entrepreneurship among our next generation of business leaders,” said Sarah-Anne Arnold, the manager of the MTN Solution Space. MTN Group chief digital officer, Herman Singh, said the company believes in inspiring and supporting new business leaders in Africa, “who will be key drivers for the future rapid evolution of a broader start-up culture on the continent”. The competition winner will receive a $25,000 (about Rwf19.5 million) cash prize to inject in their start-up, and will also benefit from a yearlong mentorship at any of Jumia’s offices across Africa. The winner will also access a Facebook Start Programme of $15,000 (Rwf11.7 million), which includes tools and services needed to build mobile applications. They will also have the opportunity to work from the MTN Solution Space at the University of Cape Town’s Graduate School of Business. The two runners-up will each receive $5,000 (Rwf3.9 million) to support their projects. “This competition aims at boosting and fueling African entrepreneurship by enabling young and smart entrepreneurs to develop their own business ideas. It will also contribute to building a stronger and more sustainable business environment across Africa,” said Bankole Cardoso, the head of communications at Jumia. He added that the firm looks to give support to young talents, from funding to mentorship by its experienced entrepreneurs. Applications for the first round of the multi-phased competition will close on March 27. The finalists will be announced on April 16. Aspiring entrepreneurs from participating universities can enter in teams by logging on; www.gsb.uct.ac.za/MTNECbyJumia. Participating countries include Egypt, Ghana, Ivory Coast, Kenya, Morocco, Nigeria, Senegal, Tanzania, and Rwanda. business@newtimes.co.rw

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Innovative university students stand to win Rwf20m in MTN entrepreneurship contest