Launched in January 2016 by Mo Dewji Foundation, “Mo Entrepreneurs Competition” challenged young Tanzanian business-owners to participate in the hope of winning a business investment of 10,000,000 TZS as a start-up/growth capital together with mentorship from the CEO of MeTL Group and Chairman of Mo Dewji Foundation, Mohammed Dewji. The initiative is a joint effort with Darecha Limited, a Tanzanian micro-venture capital firm that seeks to explore ways that profitable small businesses owned by youth can raise venture capital.
As Mohammed Dewji said: “Unlocking entrepreneurial support opportunities to youth is critical for boosting Tanzania economy and development.” In fact, a major block for young Entrepreneurs in Tanzania is the costs and requirement needed to access start-up/growth capital.
Therefor the introduction of “Mo Entrepreneurs Competition”, an initiative that Mo Dewji Foundation plans to establish as a yearly event. The competition seeks young entrepreneurs who have the passion, drive, and determination to grow their start-ups, in order to increase their income and their contribution to Tanzania economy.
Since its launch, nearly 200 young entrepreneurs (average age of 26 years old) engaged in businesses that range from agriculture&poultry to IT, and from energy to waste management, entered the competition, filling out a very comprehensive and meticulous application form (which included financial projections as well).
Nearly approaching its final stage, the competition is now in the final screening phase, where a carefully-selected jury is currently interviewing the top-20 applicants. In the end, between 3 and 5 winners will be announced, and awarded with a business investment of 10,000,000 TZS and the great opportunity of receiving some mentorship from Mohammed Dewji.
For more information, visit: http://www.modewjifoundation.org/mo-entrepreneurs-competition/