The Uganda Startup Cup is pleased to announce with great pleasure that after a grueling seven months of coaching, judging, mentoring, networking and lots of fun a winner and Uganda representative has been selected. The challenge featured a diverse array of startups including the Bio Technology startup Zaantu who have devised a software application in lieu of the frequent breakdown of medical equipment which is as a result of misuse, wear and tear among others, the winning social enterprise “Ask Without shame” a mobileapp for young people to ask any sexual and reproductive health related questions from qualified medical experts, in a non-threatening environment via an android mobile application and via sms.
Decisions were made by a panel of judges consisting of representatives from a diverse range of backgrounds. The judging panel evaluated the plans on the basis of:
Reasonable opportunity for success of the business model
Company meets an identifiable need and actively tests market response
Company has a strong execution strategy
Company has identified and allocated resources to be successful
Company utilizes resources effectively
Company has a believable competitive advantage
Company has a sound target market and customer base
Revenue and profit models that fit
Strong, coachable management team
Realistic time-frame for company growth
The entrants to the Competition will be judged on the merits of their business models with three presentations made to the panel of judges. The first presentation will include the top twenty-five business models. The second presentation will include the top twelve business models and the final round of presentations will include the top seven business models.
All decisions regarding the criteria were be made solely by the organizers and sponsors.
The 12 Startup Cup finalists were originally selected out of a 35 applications received. A panel of 10 judges evaluated and graded the applications based on innovation, scalability and job creation in Lebanon. Each of the 12 semi-finalist teams were assigned a coach who followed up and provided strategic support, mentorship and advice. The process of Uganda Startup Cup was conducted over the course of 7 months divided into 2 coaching phases.
After the first pitch, the semi-finalists were required to submit a revised business models along with evidence of progress. The seven finalists chosen moved to the second and final round of training and coaching, while they work on perfecting their investor pitch. The finalists were allowed a 5 minute pitch to convince a selected judges of their startup concept upon which the winners were selected.
The Challenge Business Model Competition was designed to foster entrepreneurship and an entrepreneurial spirit, grow jobs through startups, and increase awareness of the resources available to grow entrepreneurs. All selected winners were selected on an objective basis as determined by the criteria set forth below.