The Entrepreneurship World Cup (EWC) is a global competition designed for startups and entrepreneurs, co-organized by the Global Entrepreneurship Network (GEN) and Monsha’at. It offers a unique platform for startups at various stages of development - from the idea phase to the growth stage - to compete, learn, and win significant prizes.
The Entrepreneurship World Cup (EWC) has rapidly evolved to become one of the world’s most significant and diverse startup pitch competitions and support programs. Launched in 2019, the EWC has welcomed over 370,000 entrepreneurs from more than 200 countries and territories, providing them a platform to accelerate their business development. To date, the EWC has awarded $4 million in cash prizes and $150 million in in-kind prizes. This competition goes beyond a mere contest; it offers hundreds of hours of coaching and training, along with entrepreneurship programs tailored to the different stages of the participating companies’ development.
The EWC stands out for its scale and diversity, offering opportunities to entrepreneurs at all levels, from idea to scale. The focus is on enhancing the visibility of participants and connecting them with mentors and investors.
Considering the history and achievements of the EWC, it is evident that participation in this contest offers an exceptional opportunity for Malagasy startups. Not only can they win significant prizes, but they also gain access to quality training, a global network of experts, and potential investment opportunities. This platform can thus be a crucial springboard for Malagasy startups, helping them to grow, gain visibility, and establish important connections on a global scale.
National Organizer
Madagascar made a decisive step in the global entrepreneurial ecosystem in March 2019 by joining the prestigious Entrepreneurship World Cup (EWC) movement. This remarkable integration was led by the innovative social enterprise, 100startups.co, which proudly served as the National Organizer. Continuing this dynamic momentum, the baton was skillfully passed to KOON-SPACE Coworking Networking Business Center in early 2020, marking a new era of collaboration and growth in Madagascar’s entrepreneurial sector. Today, as we look towards the EWC 2024 campaign, we welcome JCI Iarivo as the new National Organizer with great anticipation and renewed commitment. This evolution is a testament to Madagascar’s spirit of innovation and resilience in its quest to stimulate entrepreneurship and unveil local talents on the world stage.
Advantages of participating
Participating in the Entrepreneurship World Cup (EWC) offers several significant advantages for Malagasy startups. Here is an in-depth exploration of these benefits:
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International Exposure
- Global Visibility: Malagasy startups have the opportunity to showcase themselves on an international stage, thereby increasing their visibility and recognition beyond national borders.
- Global Networking: Access to a worldwide network of entrepreneurs, investors, and mentors can open doors to international collaborations and expansion opportunities.
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Access to Valuable Resources
- Training and Mentorship: The EWC bootcamp offers training and mentorship sessions, providing participants with essential tools and knowledge to develop their business.
- Expert Feedback: The judges and mentors at the EWC are often industry leaders and experienced entrepreneurs, whose insights can be invaluable for refining business strategies.
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Pitch Skills Development
- Enhanced Presentation Skills: Participating in the EWC helps to sharpen pitch and presentation skills, which are crucial for attracting investors and partners.
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Funding Potential
- Cash Prizes: Winning a share of the $1 million USD prize can provide crucial non-dilutive funding for startup development and expansion.
- Investment Opportunities: Participation can draw the attention of investors interested in emerging markets like Madagascar.
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Market Validation and Credibility
- International Recognition: Being recognized in a global competition can serve as significant validation, increasing the startup's credibility in the eyes of clients, partners, and investors.
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Inspiring Local Innovation
- Role Model for Other Entrepreneurs: Success in the EWC can inspire and motivate other Malagasy entrepreneurs, contributing to a more dynamic entrepreneurial ecosystem in Madagascar.
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Post-Competition Benefits
- Alumni Network: Access to the GEN Starters Club offers a peer network, mentorship, and other support services.
- Ongoing Support: Finalists often benefit from continued support in the form of training, access to networks, and advisory services.
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Enhanced Management Capabilities
- Organizational Development: Preparation for and participation in the EWC helps to sharpen leadership and business management skills.
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Access to International Markets
- New Market Opportunities: Interactions with international entrepreneurs and experts can pave the way to new markets for products or services.
For Malagasy startups, the EWC represents an exceptional opportunity for growth, learning, and expansion. It is a platform not only for winning prizes but also for developing entrepreneurial skills, accessing a global network, and enhancing business visibility. Participation in this event can be a significant catalyst for the success and sustainable growth of Malagasy startups in the global economy.
Key information about the EWC (Entrepreneurship World Cup)
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Eligibility and Rules
- No Entry Fee: Participation is open to all startups worldwide.
- Age of the Company: Must be registered or planning to register and be less than ten years old.
- Previous Winners: Previous winners can participate, but with specific considerations for prize categories.
- Employees of Organizers: Not eligible.
- Official Language: English is required for all presentations and global communications.
- Intellectual Property Protection: Participants are responsible for protecting their intellectual property.
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Application Process
- Official Platform: Applications must be submitted through the official website.
- Representation: Each application must have at least one executive-level representative.
- Age Criteria: The representative must be at least 18 years old, with special provisions for younger participants.
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Categories
- Idea Stage: For concepts or businesses in the initial phase.
- Early Stage: For businesses validating their MVP (Minimum Viable Product) and seeking initial funding.
- Growth Stage: For businesses with consistent growth and established organizational structure.
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Participation Phases
- Registration: Applicants are automatically enrolled and categorized.
- EWC Qualifications: Selection of the most promising startups in each category.
- Bootcamp and EWC Group Stage: Virtual training and mentorship.
- Global Finals: Top 100 compete in Riyadh, Saudi Arabia.
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Timeline
- Registration: From September 2023 to March 2024.
- EWC Qualifications: From November 2023 to March 2024.
- Bootcamp + Group Stage: From May to June 2024.
- Global Finals: From September to November 2024.
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Prizes and Recognition
- Travel: Finalists receive a full travel grant for one representative.
- Cash Prizes: Sharing of $1 million USD in non-dilutive prizes.
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Evaluation Criteria
- Product, Potential, Business Model, Team: Evaluation based on these criteria at EWC Qualifications and Global Finals.
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General Conditions
- Privacy and Data: Commitment to protecting participants' data.
- Legal and Tax Considerations: Winners are responsible for the tax implications of prizes.
For more information and to participate, startups can visit the official EWC website or the GEN Global Submission Portal.
