Eight students and young entrepreneurs from Africa and India will vie for a $12,500-prize at the finals of the third INDIAFRICA Business Venture competition scheduled to take place in Accra tomorrow.
Apart from the cash prize, the two finalists who will emerge winners from Africa and India will also earn tickets to attend the World Economic Forum annual meeting in Davos in January 2015.
Additionally, the eight finalists — four from India, two from Nigeria and one each from Senegal and Zambia — may receive equity investment, incubation and mentorship opportunities from experts and investors who will constitute the 25 judges for the competition.
The third INDIAFRICA Business Venture competition will be hosted by the Ghana Institute of Management and Public Administration (GIMPA), in collaboration with the India High Commission.
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A statement issued by GIMPA said the competition would be followed in the evening by the INDIAFRICA Awards ceremony during which the WOXSEN INDIAFRICA Grand Prizes would be given to the winners.
The statement said ‘INDIAFRICA: A Share Future’ is a unique Pan-African and youth outreach programme that is supported by the Indian Ministry of External Affairs.
The business venture competition was opened to students and young entrepreneurs from Africa and India.
According to the statement, this year’s competition attracted more than 1,800 applicants from 40 African countries and India.
After two rounds of evaluation, 20 teams from Senegal, Nigeria, Egypt, Uganda, Zambia, Rwanda and India were declared winners out of which the eight finalists emerged.