The Lesotho chapter of the global business coaching contest, the Entrepreneurship World Cup (EWC), will enter its final decisive stage from 21-24 November 2022.
The tail end of this competition consists of Bootcamp and the selection of the best national projects to be pitted against the best in the world.
The EWC Organiser, Mr. John Matlosa said 25 participants whose projects have made it to the final stage have been invited to participate in the 4-day high-intensity Bootcamp where they will undergo a rigorous examination of the various aspects of their business ideas to give the edge over the best that the world can offer.
He noted that the EWC includes passing tests such as market need, input sourcing, business planning, market matching, marketing, sustainability, equity and finance, as well as growth among others.
Mr. Matlosa mentioned that 180 countries will be taking part in the competition, saying the global entrepreneurship network focuses on fostering deeper cross-border collaboration and initiatives between entrepreneurs, investors researchers, policymakers and entrepreneurial support.
He noted that this week marks the beginning of a journey toward unlocking business opportunities for the young entrepreneurial innovators in Lesotho, saying for many this will be a challenging moment.
He stressed that the diversity of projects under the micro-scone ranges from agriculture and renewable energies, digital cleaning services, education to agriculture, product standard testing, digital advertising and aviation innovation, to name but a few.
He further noted that vertically, projects include stages from ideation, experimentation, early start-ups which have been conceived by individuals, small companies, and fledgling groups across all ages, genders, levels of education, and 10 districts across ten districts of Lesotho.
The prizes are as follows; Grand Prize- M200,000, Best Growth Stage – M100,000, Best Early Stage – M100,000, Best Idea Stage – M50,000 and Best Social Enterprise – M50,000. The prizes will also include 1-year Incubation, Coaching, Mentorship, and International Study Tour.
The top four winners will also get an opportunity to attend a second Bootcamp in Singapore plus all 25 participants will participate in a 6 Months Business Incubation program run by Vodacom Lesotho Foundation and GEN Lesotho through its local partners BAM Foundation and Business Doctors.
“Our grand prize winner will also be given an opportunity to compete in the global 100 semi-finalists,” he said, adding that winner will be treated to a lavish package that includes international observation trips, an audience with globally recognized experts as well as a glittering trophy, and a $1million prize-money
The EWC Lesotho National Semi-finals are organized by Global Entrepreneurship Network – Lesotho in partnership with BAM Group Foundation, Business Doctors, and sponsored by Vodacom Lesotho Foundation for an amount of MI 000 000.
Since launching in 2019, the competition has attracted 400,000 registrations from 200 countries and connected founders with over US43M in cash prizes and another USS25óM worth of perks and free support and services.
Global Finalists will face off against one another in Riyadh, Saudi Arabia in March 2023.
EWC is an initiative led by the Global Entrepreneurship Network and Monsha’at, with support from a collection of national and global partners including One Valley, The Global Education and Leadership Foundation (tGELF), Entrepreneurs’ Organization, KAUST, and Start-up Genome.
Distributed by APO Group on behalf of Government of Lesotho.