GBSN Africa Business Plan Challenge

GBSN, supported by AACSB EMEA and Peaqs, are pleased to present a virtual business plan competition for African undergraduate and graduate students. The competition will challenge student teams to design a viable business plan that addresses a locally-relevant challenge or problem related to sustainable development and Agenda 2063. The competition is intended to assist young people from the African continent who have an entrepreneurial orientation, a desire to serve their community, and demonstrate the values outlined below. The focus is to promote and support responsible capitalism for emerging markets and to identify high potential young people for mentorship and investment. 

The competition is designed with the following values in mind:

  • A commitment to the importance of responsible entrepreneurship and its role in job creation
  • An international outlook
  • A commitment to ethical business practices
  • A strong interest in young people in emerging markets and the role that business can play in creating opportunities that enable them to develop
  • A believe that business is a public trust with the obligation to improve and serve society
  • A commitment to lifelong learning and continuing education

General Information

  • The challenge will be virtual and take place during a 4-week period April 12, 2021 – May 7, 2021. 
  • Each participating school will be allowed to enter two teams, but must commit to having at least one. How to determine the teams is up to the school (e.g., by selection or competition). 
  • Teams must consist of no more than four members, where at least two must be current students at an African institution at the time of the competition. Interdisciplinary teams are encouraged.
  • Each participating school must provide one mentor for every team it enters in the Challenge. Mentors will help guide teams and enrich the learning experience, though not necessarily only for your school. One of our objectives is to build a community platform for learning–not just a competition but an opportunity for mutual support.
  • Peaqs is a web-based learning game platform that combines a project development process with a virtual stock market engine for real-time valuation and peer feedback. The competition will invite creative business ideas from young people to address a local community need or challenge identified. Student teams will engage in a four-phased project development process where ideas, products and/or services are put up for sale on a virtual stock market.
  • The top 5 teams will pitch LIVE to a panel of international judges.
  • Schools will not be charged a fee to participate in the experience. Any local expenses associated with the teams, if any, are the responsibility of the school.
  • The first place team will win a cash prize in addition to one-on-one mentoring session with a notable industry leader.

Challenge Prompt

Identify a locally-relevant community need or challenge related to Agenda 2063 and sustainable development. Frame the problem and develop a creative, viable and practical business solution to address that community need or challenge. All business solutions will be fully developed in the four-phase process student teams will follow on the Peaqs platform.

Eligibility

The competition will be open to students currently studying at a school located on the African continent. Teams of up to four people may enter the contest as long at least two members of the team are currently enrolled at an African institution. Interdisciplinary teams are encouraged.

Teams will need to designate one team leader. That team leader will be the main login account holder, but all team members and their information will be included in the submission form. Teams may only submit one entry; multiple entries will not be accepted.

Participation

Schools can sign-up two total teams. Each participating school is required to allocate at least one mentor to participate in the competition. Student teams and mentors must have Internet access to participate. To enter, teams must submit the following: a completed registration form and a summary briefly explaining the community need or challenge and the business idea.

Registration will open January 26th

Submissions

Student teams will engage in a four-phased project development process where ideas, products and/or services are put up for sale on a virtual stock market on the Peaqs platform. Submissions will be accepted that define a challenge and/or a need and demonstrate a business idea to address it.   

The submission must include:

A community challenge

A business solution being proposed or implemented

A viable business plan

A community need or challenge addressed

Teams will be encouraged to be creative but practical in how their idea would be brought to market. Teams will be asked to address the following:

  1. The Challenge: Frame the problem and the need for the solution
  2. The Solution: Link the problem and explain how the solution addresses it
  3. Give Examples: What does this project look like in practical terms
  4. Impact: What will be its impact qualitatively and quantitatively 
  5. Marketplace: What is the market for the product/service
  6. Sustainability: How sustainable and scalable is it

The length of the submission is limited to encourage clear and direct communication of the challenge, solution, model and impact. 

Award

The first place team will receive a cash prize. The top 3 teams will receive a one-on-one mentoring session from an industry leader. All teams receive exposure, expert feedback, and valuable international networks.

Judging and Mentoring

The virtual stock market on the Peaqs platform will be used as a channel to determine the top 5 finalists. All student teams will have the chance to review and invest/or not invest in other team projects on the platform. Faculty mentors will also be asked to review and invest/or not invest team projects on the platform. The marketplace data will determine what teams are in the top 5.

There will be a panel of approximately five (5) to seven (7) international judges from business, academia and civil society to serve on the panel that will judge the top 5 finalist team LIVE presentations.  

Timeline

January 29, 2021Registration Opens
March 26, 2021Registration Deadline
April 7, 2021Orientation Call for Mentors
April 12, 2021Opening Kick-Off Event
April 12-20, 2021Phase 1 & 2
April 21-26, 2021Phase 3
April 27 – May 4, 2021Phase 4
May 5, 2021Top 5 Teams Announced
May 6 – 7, 2021Top Teams LIVE Presentations
May 14, 2021Virtual Awards Ceremony

About Peaqs

Peaqs is a web-based learning game platform that combines a project development process with a virtual stock market engine for real-time valuation and peer feedback. Students engage in a four-phased project development process where ideas, products and services are put up for sale on a virtual stock market.

The platform is deployed at Bachelor, Master and MBA level across different institutions worldwide – in subjects of Marketing, Design Thinking, Digital Entrepreneurship, Innovation & New Technology and Innovation and Change. Peaqs is aimed at higher level learning institutions from entry level university to MBA. The platform is primarily developed for subjects of innovation, entrepreneurship, product development, business development and marketing- & business strategy. But Peaqs is suited for any case-based type of learning almost regardless of the subject being taught. That’s because Peaqs is focused on being a framework for learning interactions, planning and outcomes, so you can ad virtually any subject to the platform and create a stimulating learning experience for your attendees.

Peaqs is a blended learning platform, which allows the teachers role to shift away from one-way, classroom instruction, to a more versatile mixed classroom/online environment that can be accessed by students and teachers alike at all times from anywhere. More information, visit http://peaqs.com/

Questions?

Email Emma Martens at emartens@gbsn.org for questions or concerns.