EKITI ENTERPRISE CHALLENGE 2020
Ekiti Enterprise Challenge (EEC 2020) is a Social Impact Driven Community based enterprise Pitch competition designed to be an annual event where young entrepreneurs who resides and established in Ekiti Communities with brilliant and innovative business ideas which have potential to grow exponentially and scale beyond Ekiti Market to a National and Global Market will be identified, discovered, Incubated, funded and mentored with business support opportunities
What EEC expects from Start-Ups that want to be part of the pitch challenge
This isn’t your ordinary pitch competition. The Enterprise Challenge Competition is designed to test a range of business consumerist skills of aspiring young entrepreneurs who have scalable business ideas with potential for exponential growth. After you have submitted your application, a Team of Screening Committee will review your applications and select best business applications that meet up the following business idea ranking creteria:
Criteria For Business Idea Ranking
Clarity Business Model
Potential for scalability & exponential growth
Market demand beyond local market
Have potential to scale beyond local market to national and global market
Well defined Sustainability plan
Well defined corporate Governance and Operational management structure
Potential for positive Social and Community Impact.
Financial Viable & Sustainable
Leadership & Capacity to deliver the proposed business value propositions
Community & Social Impact
After the review of applications, best 50 applicants will be invited to a 5 Days Pitch Competition Development Bootcamp where they will be groomed for the final stage of the Enterprise Challenge.
For 1 Week, you’ll receive mentorship on how to refine your business plan and practice your pitch in preparation for the challenge finale.
At the finale, you and other driven entrepreneurs will compete for the N1,000,000 cash prize and the opportunity to receive follow-on investment from industry leaders.
About The Judges & Scoring Criteria
WHAT JUDGES ARE LOOKING FOR
The Enterprise Challenge competition will simulate a real-world process of entrepreneurs soliciting start-up funds from early-stage investors and venture capital firms.
The judges will function as early stage venture capital investors deciding on which business venture they would most likely fund.
Most of the judges will be selected from the investment community and have experience to be involved in making early-stage investment decisions on an ongoing basis.
Judges will be provided with a scorecard that will be used as a guide and used for feedback
However, ultimately the judges will base their ranking on where they would invest their money.
The following will influence the judges’ decisions.
The quality of the innovation,
The size of the market, the competitive differentiation,
The strength of the business corporate organization structure and the management team,
The clarity and persuasiveness of the written application & business plan and oral presentation,
Ultimately, the winning team should be the team in which the judges are best convinced and would most likely invest their money.