Africa Business Plan Contest's Second Year
KLI, a New York-based private equity firm kicked off itâ€™s contest last year by targeting students who are in their second year in Master of Business Administration programs at leading U.S. Business Schools. The contestants have an interest in Entrepreneurship, Emerging Markets, and specifically Africa.
MBA students think big; a few with grand and practical ideas will walk away with a $10,000 check when winners of the second annual Knox Lawrence International’s ("KLI") second Annual Africa Business Plan competition are selected next month.
Submission came from teams at the nation’s top tier University MBA programs. The competition committee is in the process of selecting the top proposals. Finalists will meet at Columbia University on April 10 for the selection.
KLI, a New York-based private equity firm kicked off it’s contest last year by targeting students who are in their second year in Master of Business Administration programs at leading U.S. Business Schools. The contestants have an interest in Entrepreneurship, Emerging Markets, and specifically Africa.
"I’m very excited to see this competition move into its second year," says Ken Globerman, Executive Chairman of the Competition. He adds that there are "several enhancements which build upon its first year success."
Competition chairman, Gregory Altman, notes, "We aim to provide the students with an eye into the process that a private equity investor uses to assess potential investments. Those reaching the final round benefit from exposure and further evaluation by additional practitioners in relevant fields."
Finalists will be chosen at the end of this month and judging will take place at the Columbia event. Those selected contestants will be invited, travel expenses paid, to present their plans to our panel of judges in the hopes of being awarded the $10,000 grand prize. The second and third place teams will be awarded a $3,500 and $1,500 prize respectively.
This year’s pool of business plans propose ventures involving healthcare, energy, education, agro-processing, aquaculture, manufacturing, social networking, venture finance, logistics, and natural products - all promising sectors across Sub-Saharan Africa. In the process, students gain valuable experience on developing business plans that address emerging markets.
Last year's winner, team Mozergy from the Ross School of Business at the University of Michigan, conceptualized a business plan using Jatropha to produce biofuel feedstock in Mozambique. The team utilized the grand prize of $10,000 to help fund an extended survey mission to the country to further develop its plan.
A profile of the contestants and their proposed ventures will be presented on the Competition website, http://abpcompetition.knoxlawrence.com