Zimbabwean incubator Muzinda Hub has launched its inaugural business plan competition, asking entrepreneurs with web or app based product ideas to apply for the chance to have their solutions developed.
Through the business plan competition, Muzinda Hub is targeting entrepreneurs with outstanding ideas which are at the concept or prototype stage.
10 shortlisted applicants will be selected to pitch to a panel of judges during Global Entrepreneurship Week in November, with five of the competitors to have their products developed by Muzinda Hub; while Johannesburg-based Ubuntu Equity will provide business support.
According to manager of Muzinda Hub Tendai Mashingaidze, the cost of development is often what hinders entrepreneurs in launching their products to market, and is an area in which the software development oriented incubator hub can be of impact.
“Development costs are arguably the biggest cost for tech startups on the continent and we believe that this is the space where Muzinda can add value, by providing pro-bono development hours as in this case with our annual business plan competition, and also affordable development costs to the startup community,” Mashingaidze says.
“We felt it important that the final pitches are done within the Global Entrepreneurship Week in order to cement the importance of development houses such as ours to support tech entrepreneurship on the continent.”
Ideas submitted must be at the concept or very early prototyping stage, must display a clear profit objective, and scalability of the business on the continent.
Submissions are open until October 30 October, and can be made online here.
Disrupt Africa reported Muzinda Hub launched in Harare last year, aiming to train 1,000 Zimbabweans in entrepreneurship and digital skills.
In June, the first 200 graduates emerged from the Muzinda programme, and the hub started offering digital services to market.