Diaspora Enterprise Accelerator Competition for African Entrepreneurs for a chance to win £30,000, Follow below procedures to apply.
Are you an African diaspora entrepreneur who runs a successful business? Are you looking to expand in Africa? Specifically, in Nigeria, Rwanda, Sierra Leone or Zimbabwe? Join our “Diaspora Enterprise Accelerator” competition, for a chance to win £30, 000 to expand your business on the continent!
About the AFFORD Diaspora Enterprise Accelerator
AFFORD’s “Diaspora Enterprise Accelerator” will award grants of up to £30, 000 to 20 UK-based African diaspora social enterprises to invest in four target countries and create at least 10 sustainable jobs.
The target countries are:
- Sierra Leone
Who should apply for the Diaspora Enterprise Accelerator?
You should apply for the Diaspora Enterprise Accelerator if your organisation is:
This means your organisation must have a majority of trustees who define themselves as being of African heritage, who live in the UK and (irrespective of citizenship) retain emotional, financial and cultural links with their country and/or the African continent.
Active or planning to be active in one or more target countries
Be planning to invest the accumulative grant and match funding into a business that is active in one of four eligible countries: Nigeria, Rwanda, Sierra Leone or Zimbabwe. Your organisation must be legally compliant in the country. Your organisation must also be respectively compliant with legal registration requirements in that country.
A registered UK company
Be one of the following: a UK registered charity; company limited by guarantee (not for profit); non-profit co-operative, community benefit society; Community Interest Company (CIC); Charitable Incorporated Organisation (CIO) or Scottish Charitable Incorporated Organisation and in sound financial health.
Operate in one or more of these thematic areas of interest:
- WASH (Water, sanitation and Hygiene)
- Social enterprise
- Retail and hospitality sector
Focused on sustainability
Your organisation demonstrates a strong commitment to income generation, financial sustainability and innovation. You should also demonstrate the ability to build partnerships, utilise technology and harness tools such as social media for success.
How does the selection process work?
The Diaspora Enterprise Accelerator works in two stages.
To enter the Diaspora Enterprise Accelerator, eligible organisations must become members of the AFFORD Business Club. To apply, you need to complete the following forms:
- Completion of ABC registration Form
- Reading of the Prospectus
- Completion and submission of the PQQ
- Successful organisations are selected by AFFORD to enter the second stage of the competition; non-successful organisations receive continued support from AFFORD.
The second stage is by invitation only. AFFORD selects winning organisations to receive business planning support, and a grant of up to £30, 000 to expand their business in their chosen target country. The second stage consists of:
- Reading of the Business Planning Guide
- Completion and submission of the Business Planning Application Form
- Preparation and submission of your Business Plan
How to Apply for Diaspora Enterprise Accelerator Competition
To start your entry into the competition – complete our pre-qualification questionnaire, and you will hear back from us on your eligibility! Good luck!
Still, want to know more?
If you wish to take your business to the next level, Join our competition!