Total Malawi has launched ‘Startupper of the Year Challenge’, a contest aimed to identify, reward, and provide support to three young entrepreneurs with best business development proposals.
The contest, also launched in 32 African countries, is geared to support young innovative entrepreneurs below the age of 35.
Speaking during the launching ceremony in Blantyre on Friday, Total Malawi Managing Director Seggie Kistasamy said the programme will not only provide financial support but also customized coaching, reward and visibility for the entrepreneur.
Kistasamy said they would like to see young entrepreneurs take an active role in developing the local economy and to become less reliant on imports.
“We are interested in all the projects regardless of the type of business or activity. There is no formal limitation or restriction in terms of business sector but economic and social criteria such as innovation, expertise, development prospects, profitability, age of the entrepreneurs, sustainable added value and job creation, local transformation, substitution to imports,” said Kistasamy.
He also said Total Malawi, as global brand, is committed to contributing towards the development of the country’s economy and they will be investing over K8 million over next few years.
“As a global brand, committed to better energy, we continue to upgrade our facilities to comply with benchmark standards and innovative solutions.
“As our world is changing, we’re changing too! For we are committed to doing everything we can to bring you better solutions and better energy. Importantly we remain a key stakeholder in Africa. Where ever we operate we are committed to ensuring that our activities create value and opportunity for local communities,” said Kistasamy.
Total Malawi is the 4th largest global oil and gas company and operates in more than 130 countries.
The contest, whose application process started on November 1 2015 and free and open to all Malawian citizen, is targeting individuals below 35 years and who have been in business for less than 2 years. Those with business concept with potential better the economy will also qualify, according to the company.
Applications will be filled and submitted online;http://startupper.total.com/ and can apply until January 31 2016.
A jury of professionals will then select ten best proposals based on how innovative, original and bold the project is, its development potential and its capacity to improve living conditions of the populations.
The finalists’ list will be published on the contest website by February 28 2016.
The candidates will have to defend their proposals by March 15 2016 and thereafter the jury will pick the best three business proposals to be announced during the awards ceremony to place between March and April 2016, according to Total Malawi.
The prize money–K11 million–will be split between the three winners.
A ten member jury comprises Maynard Nyirenda (chair), Davie Kavinya of Inde Bank, Ndione Chauluka of TEVET, Dye Mawindo of Office of Director of Public Procurement (ODPP), Harlod Jiya of National Bank of Malawi, Felix Maoni of Polytechnic, Dorothy Chapeyama of Reunion Insurance, Julia Mvula of NBS Bank, Jerina Thornicroft of Luckay Haulage and Kistasamy, Total Malawi MD.
While business magnate Jimmy Korea Mpatsa of Mpatsa Holdings is the Honorary Patron.Follow and Subscribe Nyasa TV :