Deadline: 15 September 2023 | Wazo Challenge Nigeria 2023
Wazo Challenge Nigeria 2023 is intended at 18 – 35 years old Nigerians, who have an idea to solve a local business/social problem, utilising technology.
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With a near 220 Mn population having 220 Mn mobile phone subscriptions and 122 Mn internet users – technology will help take the leap forward, and solve social and corporate concerns.
Hindsight Ventures is searching for ambitious kids (as individuals or teams) to leverage technology (Software/Hardware/Software+Hardware), and solve for one of the below:
- Retail & Supply Chain
Takeaways from the Challenge
- Venture Bootcamp: 30 high-potential founders will be selected for a 4-week venture mentorship and leadership development bootcamp, that will be given by successful founders, industry leaders, domain experts and investors from Hindsight Ventures and Lagos Innovates worldwide network. The Venture Bootcamp will help build / restate basic venture development processes, enable industry linkages, worldwide networks, peer community and more. During the course of the bootcamp, each selected firm will gain access to $600,000 worth of technological credits that will help them build rapidly.
Week 1: Foundation
- Product Market Fit: Review, Identifying Gaps and Refining the idea
- Revisiting the Business Model
- Understanding Mission, Vision, and Goals
- Branding and Design Legal And IP Elevator Pitch for Investor and Customer
Week 2: Customer Development
- Customer Journey Mapping, Customer Segmentation, Value Proposition
- Customer Validation and Profiling
- Management, work-life balance, and corporate culture
Week 3: Business Scalable Go-To-Market Strategies
- Communication in Marketing Customer Acquisition
- Economics Financial Modelling Unit
Week 4: Funding for pitches
- Mock pitches and pitch coaching
- Final pitches to investors, customers, and partners.
- Technologies Points
- Each business receives more than $600,000 in technology credits from sponsors like AWS, FreshWorks, IBM, Microsoft, Canva, and DigitalOcean.
- Co-working Workplaces
- Depending on their stage, shortlisted firms also have access to vouchers for co-working office spaces for 6 to 12 months.
- Worldwide Demo Day
- The Venture Bootcamp will conclude with a global demo day when the Top 10 to 12 firms from the cohort will present to an audience of investors and corporates. The cohort will receive competent coaching from pitch coaches prior to the demo day to make sure that each pitch is concise and tells a gripping tale.
- The cohort will make a pitch for a grant worth USD 5,000 that is up for grabs. Additionally, they truly believe that the worldwide demo day would draw venture capitalists to the cohort, causing many of them to receive investor interest.
- 4 weeks after the announcement of the cohort. The programme is anticipated to begin in the first week of October 2023 and run through November 2023.
- Nigerian national(s) between the ages of 18 and 30
- If the business was only recently (18 months) incorporated
- Minimum of three people on a team
- Originality of the Concept
- Market Opportunity Market Feasibility Innovation with a Social and Community Impact
For more information visit Hindsight Ventures for further details.