PNG entrepreneurs are invited to join the Entrepreneurship World Cup to connect with a global community of entrepreneurs and get a chance to participate in a share of US$1 million (over K3 million) in prizes plus additional investment opportunities and support in in kind.
Kumul Foundation Inc is the official lead partner and organizer in PNG for the Entrepreneurship World Cup in Papua New Guinea, which will launch start-ups in the global competition through a partnership recently concluded by Chairman Anthony Smare at the Global Entrepreneurship Conference in Saudi Arabia in March this year.
The EWC will field 400,000 entrepreneurs from idea stage to growth stage in 200 countries with the aim of strengthening startup ecosystems across continents.
Kumul Foundation Inc Chairman Anthony Smare said PNG is an emerging startup entrepreneurial ecosystem and to grow PNG entrepreneurs need to connect with international entrepreneurial networks to learn, network for ideas and investments and validate their startups.
“So I encourage as many startup entrepreneurs who have exciting startups in PNG to apply.
We will have a national pitch competition where the winners will share K30,000 in prize money and get a chance to progress further to the international competition, and we hope to have one or two Papua New Guinean startups considered for the final shortlist , who will go to Saudi Arabia to fight for the world prize in November later this year,” said Mr Smare.
He said EWC is not just a global pitch competition with a chance to win life-changing prizes, it elevates entrepreneurs at all stages – idea stage, early stage, growth stage or beyond – by providing them with tools and resources to develop their undertaking.
All applicants will gain access to EWC Accelerates, a virtual learning program that helps entrepreneurs hone their skills and increase their chances of winning their national competitions and advancing to the global finals.
The national final competition for PNG will be held in September in Port Moresby.
The national winners will then move on to a training camp and be considered as EWC group stage competitors.