What is Entrepreneurship?
Many believe that spurring development through
entrepreneurship may be the solution for some
countries development challenges.
Stimulating entrepreneurship serves to strengthen
economic growth. The formation of new businesses
leads to job creation, which aids in raising the living
standards of the poor and previously unemployed.
Defining ‘entrepreneurship’
Entrepreneurship can best be understood as the art
of being an ‘entrepreneur’.
Definition of ‘entrepreneur’
Someone who starts and runs a new business.
– The entrepreneur develops an idea and sources the
required resources (eg. the people, finance, raw
materials) to turn the idea into a viable business.
– This business can come from a new idea, product or
service or may even build on an already existing product
or service.
Do you know of any entrepreneurs in your
community? What types of businesses have they
opened?
Here are some characteristics that are often associated with
entrepreneurs:
Let us define some of these characteristics:
Visionary:
Innovative:
Problem Solver:
Leader:
Knowledgeable:
Risk Taker:
Let us define some of these characteristics:
Visionary: A person with original ideas about what the future will or could be
like
Innovative:
Problem Solver:
Leader:
Knowledgeable:
Risk Taker:
Let us define some of these characteristics:
Visionary: A person with original ideas about what the future will or could be
like
Innovative: A person who introduces new ideas; they are original and creative
in thinking
Problem Solver:
Leader:
Knowledgeable:
Risk Taker:
Let us define some of these characteristics:
Visionary: A person with original ideas about what the future will or could be
like
Innovative: A person who introduces new ideas; they are original and creative
in thinking
Problem Solver: A person who focuses on an issues and tries to achieve a
solution
Leader:
Knowledgeable:
Risk Taker:
Let us define some of these characteristics:
Visionary: A person with original ideas about what the future will or could be
like
Innovative: A person who introduces new ideas; they are original and creative
in thinking
Problem Solver: A person who focuses on an issues and tries to achieve a
solution
Leader: A person who leads or commands a group, organization, or country
Knowledgeable:
Risk Taker:
Let us define some of these characteristics:
Visionary: A person with original ideas about what the future will or could be
like
Innovative: A person who introduces new ideas; they are original and creative
in thinking
Problem Solver: A person who focuses on an issues and tries to achieve a
solution
Leader: A person who leads or commands a group, organization, or country
Knowledgeable: A person who is intelligent and well informed
Risk Taker:
Let us define some of these characteristics:
Visionary: A person with original ideas about what the future will or could be
like
Innovative: A person who introduces new ideas; they are original and creative
in thinking
Problem Solver: A person who focuses on an issues and tries to achieve a
solution
Leader: A person who leads or commands a group, organization, or country
Knowledgeable: A person who is intelligent and well informed
Risk Taker: A person who exposes themselves to potential loss in the hope of
gain or excitement
Watch this video about Adenike Ogunlesi
(owner of Ruff ‘n Tumble) and answer the
questions that follow.
Opportunity Spotter
•
What opportunity was Adenike Ogunlesi able to spot and capitalise on?
And what current opportunities has she identified to improve her business?
Visionary
•
How does Ruff n Tumble’s mission statement show that Adenike Ogunlesi
is a visionary?
Knowledgeable
•
How did Adenike Ogunlesi seek to make herself more knowledgeable
about business and the industry she works in?
Problem Solver
•
What are some of the challenges that Adenike Ogunlesi has identified as
facing her business?
Leader
•
In what ways does Adenike Ogunlesi show that she is a leader?
Impact
•
Describe the impact that Adenike Ogunlesi’s business has had for
individuals in her community?
Risk Taker
•
What are some of the risks that Adenike Ogunlesi has had to take to
ensure that her business is a success?
Do you think that you have what it takes?
We have covered some of the main characteristics that are displayed by most
entrepreneurs. Do any of these characteristics hold true for you?
Once you are at home, take time to think about some of the characteristics
that you possess that might make you a great entrepreneur.
Also make sure to attend more events and training sessions that will be led by
African Innovation Prize.
You have a dream. Make it happen.
If you believe that you have what it takes to be a great
entrepreneur, this is your opportunity to begin your journey and
start your own enterprise!
The African Innovation Prize
You have a dream. Make it happen.
www.africaninnovationprize.org
What is the African Innovation Prize?
The African Innovation Prize (AIP) is a charity which encourages student
enterprise and innovation in Africa.
We aim to help African students to DREAM, DESIGN and DEDICATE
themselves to their business ideas. We inspire and support university
entrepreneurship across Africa by providing a world-class business plan
competition, supported by focused training and mentoring tailored for
students.
By providing inspiration, entrepreneurship training and startup funding to
student enterprises, the AIP empowers future African business leaders to
launch their innovative business ideas, supported by mentors and a network
of peers.
Why?
Youth unemployment and under-development of the private sector are two
key problems facing many African countries, and are closely linked to a
country’s capacity for economic growth.
We believe that innovation and responsible business are crucial for
sustainable growth and development in Africa. High-potential students are
best-placed to be the originators of these ideas, and founders and leaders of
these enterprises.
Where do we operate?
Who is behind it?
AIP is a registered charity in England and Wales (No. 1146881), founded by
University of Cambridge students from business and development
backgrounds.
Following an inspirational lecture delivered by Rwandan President Paul
Kagame in December 2008 at Cambridge University, during which the
President invited his audience to visit his country, three students decided to
start a charity which aims to encourage entrepreneurship and selfsustainability through economic development in Africa.
Our sponsors
De La Rue is a world expert in the delivery and management of secure government
identity programmes, systems and solutions.
De La Rue has been working in Rwanda for over ten years and already delivers its
passport, ID card, driving license and supporting systems, and is currently working
on the introduction of an integrated eID card for the Government, the latest phase
of the Rwandan National ID project.
The Segal Family Foundation works to improve people’s lives through improving
capabilities and helping people assume greater responsibility for their quality of life.
The Foundation supports local effective charitable solutions through direct
investments, with a focus on Sub-Saharan Africa.
How it works
Dream – Idea Challenge
1 March – 31 March
Students create a business idea and submit a 250 word
summary. The three best ideas in each university win
GBP£200/RWF201,294/1.3million SLL
Design – Business Plan Challenge
1 May – 15 June
Students create and submit a full business plan in under 1500
word. The one best plan in each university win
GBP£2000/RWF2,012,941/13million SLL
Dedicate – Business Bootcamp
July
This will help competition students to develop their dreams into
full fledged businesses.
Key events for your diary
Pre-competition
What is Entrepreneurship?
23.01.13
Dream
How to create a Business Idea
06.03.13
Design
How to create a Business Plan
TBC MAY
Find out more and get involved
Visit www.africaninnovationprize.org, where you can find out more, contact
us, and access resources from the competition and training sessions. Also:

Follow the AIP blog

Join the African Innovation Prize Facebook page

Follow African Innovation Prize on Twitter