Its that time of the year again and business plan entries to the 2010 Entrepreneurship competition has been flooding in to Banwidth Barn, a Cape Town based business incubator who are the organisers for this years event. Entrepreneurs with exciting business plans has been urged to present them at the competition with attractive prizes on offer.
Recently announced by Cape Town Business news the opportunity for fast-tracked access to funding, mentorship and global exposure has opened up for Cape Town entrepreneurs, with the launch of the third Cape Town Entrepreneurship Competition. The competition forms part of Cape Town Entrepreneurship Week, which runs from 15 – 21 November, coinciding with Global Entrepreneurship Week.
The competition focuses on technology and innovation in the fields of biotechnology, telecommunications and media, information and communication technology (ICT), ‘clean’ technology, healthcare, and social entrepreneurship.
“Our previous winners have benefitted from competing in a global competition, and networking with a range of people and organisations. It is clear that this competition can play a vital role in identifying talented entrepreneurs who have the potential to build high-growth businesses,” said the City’s Executive Director for Economic, Social Development and Tourism, Mansoor Mohamed. Mohamed is also a Global Nominating Member for the Global Entrepreneurship Competition.
This year, the winners of the Start-up and Growth tracks will each receive R50 000 in prize money, while the Idea Track winner will receive R25 000. Apart from the cash prizes, the winners will also be considered for participation in further enterprise development and training programmes offered by the City of Cape Town’s various partners.
The competition opens for registration on 07 October 2010 and business plans must be submitted by 15 December 2010. Entrepreneurs wanting to enter can do so from 07 October at www.ctec.org.za. Entry is only available via the online entry form. The winners are expected to be announced by February 2011.
The competition is being managed by the Bandwidth Barn, a leading ICT business incubator and one of the City’s strategic partners. CEO, Chris Vermeulen, says the competition is set to become a flagship annual entrepreneurial event, reflecting the City’s focus on high-impact entrepreneur development.
With entrepreneurial opportunities being an exciting avenue for many for channelling their creative energies and ideas while having the opportunity to create substantial wealth, the competition will have no shortage of interested entrepreneur throwing their hats in the ring.
