WeVenture, a newly established local venture capital-backed incubator, has partnered with Dashen Bank for the third edition of the Dashen Kefita Entrepreneurship Contest. The initiative aims to empower aspiring Ethiopian entrepreneurs by providing them with training, mentorship, and a platform to showcase their business ideas.
With over 2 million birr in prizes, first place receives 500,000 birr, second place receives 400,000 birr, and third place receives 300,000 birr.
“WeVenture will assess the investment proposals to identify the 50 most promising ventures from all participants,” said Noel Daniel, Managing Partner of WeVenture.
The competition will take place in Mekelle, Adama, Bahir Dar, Dessie, Dire Dawa, Wolayta, Hawassa, Jimma, and Addis Ababa. Entrepreneurs can register until June 29, 2024 at their nearest Dashen Bank branch. Following the training, applicants will submit their proposals to Dashen Bank, where a shortlisting process will be conducted.
WeVenture is entrusted with developing training materials and delivering sessions across eight key locations throughout Ethiopia. The VC firm will also guide participants through the application process, selecting the top 50 ventures and managing logistics for their founders, including facilitating training sessions, industry visits, and accommodation in Addis Ababa.
Proposals will be assessed using a pre-defined scoring sheet focusing on key areas such as the originality and potential impact of the business idea, the experience and dedication of the founding team, and the overall market viability of the proposed venture.
Dashen Kefita Entrepreneurship Contest saw 2,500 participants in its second phase last year. A total of two million birr was awarded to the winners. Ahmed Delil, Solomon Megerssa, and Hebalawe Aleleni, who created edible flour from Enset, won first place.
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