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GOT AN IDEA CHALLENGE

Participate and win up to $15,000.00 USD in Seed Fund

In pursuit of innovation, we are pleased to announce Got-an-Idea Challenge in collaboration with Startup Nigeria to find, nurture and grow original thinkers and innovators. We are always seeking to innovate, learn & interact with our startups.

-FOUNDER (JEFFERY ODUMA)

OUR AIM

#GotanIdea challenge is designed by keeping the concerns of all stakeholders viz startups, investors, and an accelerator. Prospective investors and Connect HUB work together right from the first round. The three months acceleration program is executed in association with prospective investors. This also helps investor defining the road map of their potential investee company.

For a startup, it generally takes 4-5 months to close an investment. #GotanIdea challenge gives Startup (Small business) this opportunity to utilise this time to make their ventures investment ready and that too under the mentorship of their potential investors.

AWARD

FIRST PRIZE - The winner of #GotanIdea Challenge shall receive USD $10,000.00 as seed funding (at a valuation mutually agreed between the startup & Connect HUB Startup)

SECOND PRIZE - USD $5,000.00 as seed funding (at a valuation mutually agreed between the startup & Connect HUB Startup) for the startup working in the domain of Dairy / Food Processing / Bakery / Food Technology.

The funding shall be linked to a unique milestone & mentoring based investment strategy spread over a period of 6 months. Post 6 months, the winner will also have the opportunity to pitch to Connect HUB Startup partners for an investment up to USD $50,000.00.

ELIGIBILITY

◦ Startup SMEs (Small & Medium Enterprises): Start up SMEs involving innovations & new technologies and require upfront investment in CAPEX. Fast growing SMEs which are commonly dependent on traditional debt and are unable to access alternative sources of capital like angel fund/venture capital fund.

◦ Business Innovation: Business innovation ranges from the radical innovations (in product, services, processes) that shake up entire industries to the many small innovations that perfect the execution of already successful organisations.

◦ Technology: Application of new, radical & affordable technologies.

◦ Design: Application of innovative design into products / services / processes.
◦ Startup SMEs working in fast growing & dynamic sectors viz media & entertainment, emerging technologies, life sciences, health care, biotechnology, food & agriculture and manufacturing.

JUDGING CRITERIA

The final pitches will be evaluated in each of the following areas

  • ◦ Business Innovation / Technology / Design
  • ◦ Market Opportunity
  • ◦ Competition
  • ◦ Traction
  • ◦ Viability
Honest relationships are crucial to meaningful collaboration, and social change. A sharing, cooperative, resilient economy is viable and pragmatic. Diversity is critical to good decisions. A living wage, affordable housing, and health care access are basic rights. Income inequality is growing and this matters. Homelessness is not acceptable. Climate change and ecological degradation are kind of a big deal. Inclusion of Indigenous Peoples’ cultures and traditional wisdom must be recognized as a primary indicator of community health.

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