Applications Will Open Soon

The Challenge Process

01.

Launch

The Challenge will be launched at an event to be held in Kumasi. Applications will open immediately after the launch.

02.

Online Applications

Interested candidates will submit applications through an online platform. The application forms will request information on:

  • The founder(s) and team
  • The business idea
  • The product or service
  • Value proposition
  • Marketing strategy
  • Business model
  • Operational plans
  • A short to medium term financial plan
  • Long-term scaling plans
03.

Shortlisting

All applications will be reviewed by specially recruited team of analysts. These analysts will score all applications based on five categories:

  • Problem-Solution fit
  • Product/service viability and marketing strategy
  • Business model, financial plan and going concern
  • Risk management and Ethics
  • Team Strength
04.

Stage 1 - Business Insitute

All ventures will take part in mandatory pre-recorded training. This will cover team building, product development, financial management, and managing risks. Ventures will be further screened to determine where they need specific assistance to improve their plans.

05.

Stage 2 - OEC Finale

At this point, candidates will be engaged in a six-week competition that evaluates:

  • Team strength and team chemistry
  • Product/service quality
  • Marketing Plan
  • Financial plan
  • Social and environmental impact  
06.

Top 3 Incubated

The top three businesses will receive support for a further three months. During this period, they will obtain guidance on:

  • Raising funds
  • Prototyping, testing, and refining their product
  • Marketing, and Sales and
  • Scaling operations

Eligibility Criteria

If you are applying as an individual, then you must be between 18 and 35 years old.

If it’s a team, at least half the number of people on the team must be within the age range.

If there are external owners of the business, at least half of the business must be owned by the youth applicant or the youth within the team of applicants.

Application Materials

Team Information

Details of the founder and members

Business Idea

The idea you want to transform into a business reality

Value Proposition

A description of your selling point and what makes you unique

Product or Service

A description of the product or service that is being offered to customers

Business Model

A Business Modelling Canvas (BMC) detailing various aspects of your business model

Marketing Strategy

Information about how you are making your product or service known to customers

Operational Plans

Information about how you will run your business in the foreseeable future

financial plan

The short to medium term financial plan of your business

long-term scaling plans

Details of how you expect to scale your business in the long term

Prizes to be won

WINNING TEAM

1
GHS

SECOND TEAM

1
GHS

THIRD TEAM

1
GHS

FOURTH TEAM

1
GHS

FIFTH TEAM

1
GHS
1 %
Support

I am text block. Click edit button to change this text. 

incubator stage

The Top Three Businesses

The top three businesses will receive support for a further three months. During this period, they will obtain guidance on: Raising funds; Prototyping, testing, and refining their product; Marketing, and Sales and Scaling their business operations

MG_0607
Remember

All the businesses that participate in the Challenge will receive some resources, guidance, or knowledge to grow

There is nothing to lose!

All participants, irrespective of the stage at which they get “eliminated” will continue to be members of OEC’s community of businesses. These businesses will continue to benefit from our advisory and networking resources.

Lifelong Membership
Enjoy resources and Guidance