E-commerce site Jumia, in association with mobile operator MTN, has announced the launch of a pan-African competition that see collaboration between 1000 entrepreneurs, students and investors focused on business opportunities.

The competition is targeting more than 60 universities in 13 countries across Africa and is designed to challenge students to develop a unique digital application or smart solution that will solve a tangible problem.

Sarah-Anne Arnold, Manager of the MTN Solution Space, expanded on the reasons for starting the competition. "We are incredibly excited to partner with Jumia to launch the entrepreneurship challenge. Africa is a continent of promise, and our aim with the MTN Solution Space has always been to help fulfil this promise by developing uniquely African solutions. We believe that the entrepreneurship challenge is a key element of this. The response and willingness from universities across Africa to collaborate on this initiative has been truly remarkable and certainly exemplifies the impact of collective efforts to foster entrepreneurship among our next generation of business leaders."

Applications for the first round of the multi-phased competition are open from today and will close on 27 March 2016.

Aspiring entrepreneurs from participating universities can enter in teams by logging onto the UCT GSB website.

Applications will be judged by campus captains, who consist of successful entrepreneurs in their respective market according to organisers. The finalists will be announced on 16 April 2016, and as part of this achievement, the successful teams will get the opportunity to attend the Entrepreneurship festival, hosted at the University of Cape Town Graduate School of Business in South Africa on 27 May 2016.

Prizes

The winner of the MTN Entrepreneurship Challenge will walk away with a cash prize of US$25 000 towards their start-up, and will also benefit from a year-long partnership with Jumia, where they will have the opportunity to work from any of Jumia's offices across Africa.

The winner will also have access to a Facebook Start Program to the value of US $15 000, which includes tools and services needed to build mobile applications.

In addition, they will have the opportunity to work from the MTN Solution Space at the University of Cape Town's Graduate School of Business. The two runners-up will each receive US$5 000 towards their projects.

Bankole Cardoso, Head of Communications at Jumia says the competition will prove to be invaluable. "This competition will contribute to building a stronger and more sustainable business environment across Africa. Its main goal is to boost and fuel African entrepreneurship by enabling young and smart entrepreneurs to kick off with their own projects. The key for us is to give full and adapted support to young talents, from funding to mentorship from experienced entrepreneurs."