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eStartUp is an initiative that aims to harness innovative ecommerce ideas conceptualized by young people below the age of 30. To participate in this Competition, the entrant must be currently enrolled at any of the higher learning institutions in Zambia and willing to commit to atleast 3months of ecommerce Bootcamp. The initiative’s intended outcome is to produce ecommerce businesses that can power economic development and job creation.

eStartUp

The eStartUp competition is a collaborative effort between the Institute for Finance and Economics (IFE) Zambia, eAfrica Expo and supported by Alpha Labworks, a USA-based company. The eStartUp Competition offers prize packages of cash awards and in-kind professional services.

The competition is comprised of two categories:

  • Aspiring Business Idea
  • Existing Businesses

This competition could be just what you need to bring your eCommerce unique idea to fruition or take your existing business to the next level.

The winners will be awarded ZMW 3,500 and runner-up ZMW1,500. The winner will work to further develop the business idea into a full proposal with an opportunity to acquire seed funding of up to $2000 from Alpha Labworks. The winner will also be enrolled in a 30-day ecommerce mentorship course conducted by our team of experts.

*Terms and Conditions Apply.

The eStartUp competition is the only ecommerce biased startup competition program in Zambia.

Enter Competition

eStartUp Incubator Program Includes:

Legal 101

The first step in setting up any business including an ecommerce business is legal compliance. It is crucial that founders have a solid understanding of the legal needs of their businesses. This session focuses on creating legal entities, drafting team and partnership agreements, copyrights and trademarks, IP, term sheets, and taxes.

Ecommerce Basics

Running an ecommerce business in more than just setting up a Facebook page. Our Ecommerce Basics teaches you the essentials that you need to run an ecommerce business, from website setup to using basic analytics and integration.

Social Media Marketing

This session covers best practices for the social platforms that are the most relevant to the founders’ needs while also digging into when and how a startup should pay for marketing. Paid marketing topics include influencers, generic media spend, and SEO

Accounting & Finance Management

This session provides founders with the building blocks to manage their initial finances and develop business projections. The accounting session focuses on preliminary book keeping and cash flow management. The finance component outlines how to build a unit model and then use that model to create forecasting and sales projections. We then walk the founders through how those models can help determine the amount of money they will need to raise.

Pitching and PR

Each cohort includes pitch session and public relations (PR) sessions. In the sessions, the founders present their short business pitches to the group and receive individual feedback from the coach. The coach then takes the group through common pitching and PR mistakes and a series of exercises to make them more articulate and comfortable in front of an audience. These exercises focus on body language, breathing, annunciation, and handling Q&As.

Fundraising and Venture Capital

We conduct sessions and ‘fireside chats’ on the topic of fundraising. A more formal lecture on VC 101 which covers basics of when, how and who to fundraise from is included based on availability. We educate founders on the type of information investors look for and how much they should look to raise and what valuation. We also have a separate session where we invite an angel investor or a VC who shares best practices, ‘insider secrets’, answers questions from the cohort including how to best pitch and approach investors

Customer Insights

Who are your target customers? And what problems are they really looking to solve? By answering these questions, we help founders identify a common language and a clearer understanding of their customer needs. We look at the different methods for understanding customers and then assist the founders in creating their own discovery materials. This information is then used to ideate on initial MVPs and how to introduce those MVPs to the marketplace

Brand Strategy

As an extension of the Customer Discovery session, this segment deep dives into how to develop an identifiable brand. The session emphasizes the visual aspects of branding (font, logo, digital presence) as well as the written (name, promo language, social posting style and tone). Additionally, we explore how to maintain a clear brand identity across social platforms and partnerships. Our goal is to give our founders an understanding of the branding process so that they are well-prepared to vet and collaborate

Important Information:

  • Participants may not contact judges during the course of the competition.
  • The proposed or existing idea should, to the best of your knowledge, not be in violation of any intellectual property right.
  • Entries that do not the rules and requirements will automatically be disqualified.
  • Intellectual Property:  Ideas have little value until they are developed into actual companies or have issued patents.  With that said, you should only disclose information with which you are comfortable.  At this juncture, it is not necessary to explain exactly how you do something to the point that might give away secrets. However, realize the opportunity and how you can take advantage of it.

Important Date

  • May 1st, 2024              Contest Opens for Submission
  • May 31st, 2024            Submissions Deadline
  • June 30th, 2024           1st Round Judging – Up to six (6) groups selected
  • July 31st, 2024            Selected Finalists Announced
  • August 29th – 31st, 2024           Final “Live” Pitch Competition
  • October 15th    Presentation of Winner and Runner-up

Who Should Apply?

To be eligible, applicants need to be currently enrolled at ANY high learning institution in Zambia.
• An idea for a business earning revenue or/and external investment less than ZMW 100, 000
• Previous Aspiring Business Idea winners for this competition are NOT eligible
Team requirements:
• Max five (5) members per team or individual applicant
• Participants can join only one team
• Teams must be formed at time of entry
• Cash prizes will be equally distributed among all team members
• Participants can have only one entry (individual or team member)
Submission requirements for all categories:
• Complete online entry application
• Submit a one-minute video pitch
• Executive summary not more than (2) two pages (Financials as Appendix accepted)

Enter 2024 Competition

Don’t Miss The 2024 Competition

eStartUp is an initiative that aims to harness innovative ecommerce ideas conceptualized by young people below the age of 30. To participate in this Competition, the entrant must be currently enrolled at any of the higher learning institutions in Zambia and willing to commit to atleast 3months of ecommerce Bootcamp. The initiative’s intended outcome is to produce
ecommerce businesses that can power economic development and job creation.