Deadline for submissions is Sept 24
Application comprises an executive summary and a two-minute video pitch
THE Global Innovation through Science and Technology (GIST) Initiative has called for entries for its annual GIST Tech-I Competition.
Opened to all aspiring technology entrepreneurs from Africa, Asia, Middle East and Turkey, the competition aims to encourage the development of innovative solutions for problems critical to economic development.
Proposed business ideas must focus on technology solutions in sectors such as information and communication technology (ICT), energy, health, agriculture or other related areas.
The closing date for the submissions by interested entrepreneurs is Sept 24 (5:00pm US Eastern Daylight Time). Interested applicants must upload a Go-To-Market Plan, consisting of an executive summary and a two-minute video pitch to the competition’s website.
A panel of judges will then select 90 applications (30 from each region with a maximum of 10 per country), with all videos to be posted online for public voting.
Based on the highest number of public votes, 30 will be invited to the award ceremony in UAE in Dec 2012, where they will be part of the GIST Boot Camp, an intense two-day experience full of practical skills training, mentorship and pitching in front of judges.
Selected applicants will receive a first round of seed funding ranging from US$2,000 to US$25,000; the applicant with the greatest number of votes will receive an iPad; and the top five startups will also receive a scholarship to the GIST Accelerator, a six-week, Silicon Valley immersion program taking place during the summer of 2013 .
At the culmination of the GIST Accelerator program, applicants will pitch to an investment committee, which will allocate up to US$200,000 in awards to the most promising start-ups.
In the 2011 edition of the competition, the first-runner up was Malaysian James Khoo Chen Shiang, founder and CEO of SecQme, a technology application that enables individual security in urban centers by leveraging existing social and mobile technologies.
Funded by the United States Department of State, the GIST Initiative is tasked with building entrepreneurial ecosystems across the Middle East, Africa, and Asia by identifying, coaching, and funding the most promising entrepreneurs through competitions, start-up acceleration services, online social media platform and interactive mentorship programs.
For more information, surf to GIST Tech-I Competition.