Rwanda’s version of the entrepreneurial reality TV show “Shark Tank,” called “Face the Gorillas” premiered recently and it is seeking to act as a catalyst in the “Transform Africa” movement.
The show provides aspiring African entrepreneurs the opportunity to make a 5-minute pitch to a panel of successful business owners and entrepreneurs. If any of the panel members find their pitch interesting, the budding entrepreneurs stand a chance to access capital of up to $200,000 USD and a partnership or mentorship with the panelists. The show is produced in front of a live audience.
- 5-minutes pitch
- Questions from investors
- Negotiation of investment
- Deal or no deal
- Residency in a Smart Africa Member State (i.e. Angola, Benin, Burkina Faso, Chad, Cotê D’Ivoire, Djibouti, Egypt, Gabon, Guinea, Kenya, Mali, Niger, Rwanda, Senegal, South Sudan, Togo, Uganda)
- Technology or technology-enabled business
- Beyond the idea stage
- Looking for capital
- Under 35-years-old
- Background and commitment of the team
- Robustness and scalability of the business model
- Demonstrated proof of concept on the ground
- Low competition/barriers to entry
- Potential impact of the enterprise
- One company per country will be selected
- Selected entrepreneurs will be facilitated to get a visa, accommodation, and airfare
Reducing barriers for private business owners within the ICT sector is one of the main objectives of the ICTCPF, which partners with the Transform Africa Summit.
If entrepreneurs match the eligibility criteria and wish to try out their luck, applications can be submitted here and have the opportunity to develop a valuable relationship with a business mogul and partner.
Megha Shah for TechFunnel.com