Youth entrepreneurs, investors and policy makers to tackle real issues

They say the future is in the hands of the youth. So the best way to achieve that is by making them be part of discussions that shape the future. It is in light of that that the first ever GLOCAL Business and Innovation Startup convention running from November 11 to 13, 2014 has been organised. GLOCAL comes from two words - Glocal and Local. And this convention aims at fostering local content development with global marketability among Africa’s budding technology entrepreneurs. Alex Ntale, the Director of the ICT Chamber says the idea of GLOCAL Convention was born out of the need for collaboration, knowledge sharing, and development of entrepreneurial skills throughout the continent, especially among the youth. “GLOCAL Convention is expected to provide a platform for knowledge and experience sharing among African innovation hubs and start-ups, and to showcase African innovations to both Africans and the rest of the world,” he noted, adding: “Additionally, it aims at creating a framework for continental innovation policy formulation and to serve as a platform for raising capital for innovative businesses.” At GLOCAL Convention, start-ups will have the opportunity to network with potential investors and partners, while investors will be given the opportunity to discover Africa’s top start-ups, as well as meet potential co- investors. Government representatives will have the opportunity to showcase innovations from their respective countries, while discovering new methods of making their country more competitive in the global market place. Established technology companies will have the opportunities to showcase their current products and services, as well as networking with potential partners to expand their current companies. Face the Gorillas Among the many activities that will run during the event is entrepreneurs pitching to investors in a session called “Face the Gorillas.” Face the Gorillas will be a live TV production during the GLOCAL Innovation Convention November 11-13th giving entrepreneurs 5 minutes to pitch their business to a panel of judges and Angel investors as a motivator for young African entrepreneurs. The entrepreneurs will be identified through a process including looking at their experience in doing business, generating revenue, having innovative solutions for the market among others. During “Face the Gorillas” the entrepreneurs will be pitching for investment from a panel of angel investors and other financiers, this pitch is expected to follow a live negotiation between entrepreneurs and investors. The total available capital for investment is over US$200,000 but with the option of being increased if the business has great potential. Pre-screening criteria for potential entrepreneurs will look consider whether the entrepreneur is African, the technology or technology-enabled business they have, if their product is beyond idea stage and finally if they are below the age of 35 to keep it youthful.

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Youth entrepreneurs, investors and policy makers to tackle real issues