Over the past three decades, entrepreneurship has emerged as arguably one of the most potent economic forces the world has experienced.

Globalisation and in particular advanced communication through the Internet and digital technologies, coupled with the increase in transnational trade have fostered the possibilities to explore and exploit opportunities beyond domestic markets and resulted in the progress of entrepreneurship.

Entrepreneurs in Seychelles, now, more than ever, have an opportunity to take their ideas and ventures to the next level, through the third edition of the Entrepreneurship World Cup (EWC), the world’s largest start-up support programme and pitch competition.

The EWC platform is about the entire experience, going beyond the pitching competition to give entrepreneurs at all stages – whether in the idea phase, the start-up phase or others seeking to grow their ventures access to the knowledge, networks, trainings, connections, mentorship and for some, the capital they need to start and scale a company.

Applications are now open to entrepreneurs in over 200 countries looking to take part in the EWC. Interested entrepreneurs can complete the application on the www.entrepreneurshipworldcup.com, by Sunday July 11, to gain access to free training resources, perks and the chance to compete in their national finals and advance to the global stage.

The first of the three categories is for entrepreneurs still in the Idea Stage, meaning they have an idea for a company or business venture, but are unsure about how to start or find the resources they need to take the next step.

Among the benefits applicants stand to benefit from are free training courses and thousands of dollars worth of materials and resources to help them along the course.

In addition, applicants in this phase stand the opportunity to win US $50,000 in cash prizes and to meet and network with top investors both locally and internationally, giving members of the alumni access to an international community.

The second category, Early Stage, applies to emerging start-ups and entrepreneurs who wish to accelerate its trajectory. Early-Stage founders, in addition to having access to educational resources and training, also stand a chance to sharpen their skills at the Global Pitch competition in Riyadh, where they stand a chance at winning the US $500,000 grand prize.

Entrepreneurs who have found their market fit and are in the growth stage, through the EWC platform can access a global network of potential collaborators and expert mentors to help achieve exponential growth and a chance to win a no-strings attached check for US $500,000.

Following the round of national competitions, 100 start-ups will be flown to Riyadh, Saudi Arabia, in November 2021 to participate in an intensive start-up boot camp and compete in the EWC Global Finals for their share of US $1 million in cash prizes.

All 100 global finalists will receive a package of perks and in-kind support services valued at US $750,000 and gain automatic entry into the GEN Starters Club with access to a peer network of promising founders to share ideas and experiences while opening doors to new opportunities.

Cash prizes include a grand Prize of US $500,000, second prize of US $250,000, third prize of US $100,000. Participants in the Idea, Early and Growth Stages all stand a chance to win US $50,000.

The EWC programme was launched in 2019 with more than 102,000 registered participants. NERv, a Canadian health-tech start-up with a sensory platform designed to detect complications following abdominal surgeries, emerged victorious and took home the grand prize check for US $500,000, while in 2020 TurtleTree Labs, a biotech startup from Singapore that produces milk using cell-based technology, claimed the top honours.

EWC is co-hosted by three organisations, namely, Misk Global Forum, Global Entrepreneurship Network and the Global Education and Leadership Foundation. It is supported by OneValley and the King Abdullah University for Science and Technology, along with a range of partners.

Entrepreneurship is beneficial to Seychelles – helping to create and distribute new wealth for an economy through new product and services, generating new employment through new ventures and solving the country’s challenges by assisting in community development.

In general, entrepreneurs are optimistic and resilient as they generate many benefits, sharing ideas and trade with new markets while also bringing home new ideas towards technologies that improve efficiency across the economy and providing solutions to environmental and socio-economic challenges.

Source: National Information Services Agency