Eligibility Criteria to Join @iBizAfrica 

To join @iBizAfrica you need:

  • An innovative business ideaenabled by technology, that brings commercial value
  • A comprehensive business plan and prototype of your business idea
  • A business idea and team that fits with @iBizAfrica’s collaborative community
  • A business idea that builds on Strathmore University’s reputation as a driver of leading edge education and experiential learning

 Application Documents 
The entrepreneur(s) must have a defined business idea / draft business plan. The following information should be included in the application:
About the Applicant:

  • Letter of motivation
  • Description of entrepreneur or group of entrepreneurs involved, including CV(s)

About the Business Idea:

  •  Description of the business idea
  •  Estimation of the market potential
  •  Profitability calculations for business idea / new company, incl. investment needs
  •  Planned concept for operations and maintenance
  •  Expected challenges when establishing the company
  •  A budget for the start-up and the start-up capital the applicant applies for. The plan must include milestones as the funds will be paid in installments after completion of each milestone in the plan

About the team:
Description of other partners or investors involved. Which role is the applicant(s) interested to have in the company in the future? Knowledge gaps in the team; what information is needed to develop the company? Areas identified where training is needed?

Plan for realization of the new company:

  • Development status, time schedule, activity plan, needed approvals and licences, etc
  • Does the entrepreneur(s) wish to develop the new company on a full-time-basis?

Application submissions should be made through ibizafrica@strathmore.edu.
The program will initially be open for applications four times a year. First deadline for applications was April 10th 2012. The evaluation and approval process will take approximately six weeks.

 The Selection Process 
The business ideas will be evaluated by the Selection Committee, based on a set of questions/criteria. This includes:

  • Are the entrepreneurs motivated and committed?
  • Is the available knowledge and experience in the team relevant for the business idea?
  • Is the business idea clearly described?
  • What are the benefits of the business idea? Both business wise, for employment and general environmental and developmental impact
  • Is the identified market for the products realistic?
  • Is the project technically viable?
  • Is the project commercially viable?
  • Do the entrepreneurs have a viable plan for operations and maintenance?
  • Are the realistic project risks / challenges identified?
  • Is the plan for realization realistic?
  • How mature is the project? How soon can it be implemented?

 The final approval of projects to support will be done by the Investment Committee.