NU100 is an entrepreneurship competition targeting individuals in the age bracket between 18 and 35, who have a technically feasible technological innovation that can be translated into a business. The competition is held by Nile University.
Our first round NU100 – 1.0 had managed to provide training for 300+ participants in 10 locations across Egypt. The competition was not limited to IT, but expanded to cover a wider technological spectrum including but not limited to: Advanced Technology, Manufacturing, Agriculture, Media, Chemical, Medical, Computing, Construction, Education, Paper & Packaging, Energy, Tourism & Leisure, Engineering, Transport, Environment, Wood and wood products, Healthcare, Industry, and Telecommunications. A higher weight was given to innovations that address a societal need, solve a technical problem, or have a high employment potential. Within this competition the participants received:
- Entrepreneurship Driver’s License
- Coaching & mentoring
- Prototype development
- Match Making opportunity & Technology Brokerage
- Start-up seed capital for winners
After twelve long months of hardship, challenges, disappointments and hope, NU100 - 1.0 finals and closing Ceremony was a meet up between entrepreneurs, businessmen, students, investors, government, company’s representatives, and the NU100 Final teams.
The 34 final teams, had resulted in 18 registered companies ready to hit the market.
NU100-1.0 Awards and prizes:
- Exxon Mobil: 100,000 EGP for the best woman entrepreneur.
- MC Egypt: 100,000 EGP divided into 3 prizes:
33,250 for the best Project in Agriculture.
33,250 for the best Woman entrepreneur
33,250 for the best Project in IT.
- Misr Elkheir: Awards for the teams whom in need to equipment for improving their products.
- Nile University: 100,000 EGP Awards & 3 scholarships.
- Flat6lab: Incubation for the best team.
- TIEC: Acceleration for the best Project in IT.
After the success of first round NU100 -2.0 will start soon and targeting to cover socially responsible projects related to these areas Energy, Water, Agriculture and Healthcare. (Stay Tuned)
The competition will take place over 4 phases in addition to the Finale. In the first phase, an outreach campaign will be launched to cover all over Egypt. The duration of this phase is 3 months. In phase 2, 100 teams will be selected (approximately 400 participants) based on specific score cards measuring aspects such as the originality of the idea, it technological advancement, its relevance to actual challenges and needs and its marketing potential . These participants will receive training on basic business and soft skills. The training for phase two will take place in NU (which will be the Cairo center) as well as other satellite locations (governorates centers) across the country (up to a total of 10 training locations) and will last a duration of 2 months. The selected teams will be equally divided among those locations. This will ensure real representation of all communities across Egypt.
In the third phase, 25 teams out of the initial 100 (approximately 100 participants) will be selected based on detailed reviews of the judging panel to receive courses on the NU core on different innovation and technology themes in addition to business plan writing and advanced soft skills. This will last another 2 months. In the fourth phase, the participants who had successfully finalized their business plans will receive funding and mentorship to develop their prototypes, and will eventually compete for seed funding for a substantial financial prize. The duration of this phase will be 3 months, with one month preparation for Finale. The total duration will be approximately one year
In the process, a comprehensive publicly accessible web portal will be developed collecting educational material, resources and success stories. Regional training will be conducted through train the trainer approach and in collaboration with local public universities to build capacity in these regions. Participants will be required to “pay it forward” by sharing their experiences with others in their region.
The project will result in not only real companies started but in educational material publicly accessible for future use, experience gained by the trainers and the participants who will be equipped with an entrepreneurial mindset that will carry them forward well beyond the competition, not to mention the extensive awareness in the communities outside the circle of the main cities. The impact of the competition will not only affect its immediate stakeholders but will have the added benefit of promoting the concept of entrepreneurship and creativity across Egypt.
For More Information about Entrepreneurship Activities at Nile University Please check NU Entrepreneurship Page