The Entrepreneurship World Cup (EWC) was introduced at the event hosted in Maseru on Tuesday by the Global Entrepreneurship Network (GEN) and the Vodacom Lesotho Foundation.
Applications are being accepted for the EWC until August 15, 2022. The program provides access to international mentors and investors, the opportunity to pitch on a worldwide stage for a part of US $1 million in global prizes, M1 million in local awards, and local incubation.
EWC is a national program trying to lower the high unemployment rate, according to Mr. Tepo Ntaopane, Executive, Head of Corporate Affairs of Vodacom, who spoke at the occasion.
He stated that the country’s high unemployment rate was a difficulty for the Vodacom Foundation and that since the majority of business owners were unable to obtain bank loans to expand their operations, they joined the EWC worldwide project.
He added that supporting domestic business is crucial because it would strengthen the economy of the nation.
In order to grow their enterprises, Mr. Ntaopane emphasized that the entrepreneurs would create the essential network.
He said they would connect with businesspeople in developed nations to learn from them about how to run successful businesses.
An additional speaker was Mrs. Ntepeng Titsa, a member of GEN Lesotho.
She stated that any start-up is welcome to apply and become an applicant, but applicants must be legally registered in Lesotho or intend to register, and they must not have been operating for more than seven years at the time of the finals.
Previous EWC Global Winners are also not eligible to compete in EWC 2022.
She mentioned that applicants will receive free training on entrepreneurship skills right away after registering.
She claimed that the M1,000,000 local prize would go to the top five Lesotho-based start-ups.
The Grant Prize is for M200,000, Best Growth Stage is worth M100,000, Best Early Stage is worth M100,000, Best Idea Stage is worth M50,000, and Best Social Enterprise is worth M50,000.
According to her, the rewards would also include an international study tour, coaching, and mentoring for a whole year.
For local prizes, visit www.entrepreneushipworldcup.org.ls, for international prizes, visit www.entepreneushipworldcup.com, or contact 22311541 for additional details.