Following the success and lessons learned from the first competition, EDI is now ready to kick-off the second edition of EthioSpur Business Plan Competition. For this year, EDI designed the 2022 EthioSpur to be a National Business Plan Competition targeting Micro and Small businesses.
Cash grants will be awarded to the top 5 businesses.
On top of the grant fund, Ethiospur will provide multiple non-monetary prizes that are helpful to take their businesses to the next level.
For Top 5 winners: Top 5 promising business will be rewarded with an opportunity to showcase their business on the Media outlet and on the EDI Website for the period of one year.
For Top 20 finalists: In addition, a one-day pitching training covering topics like pitching strategy, preparation of a pitch deck and so forth will be given for the Top 20 finalists.
For Top 40 semi-finalist:
A. Entrepreneurship Training- One session of Entrepreneurship Training Workshop (ETW) will be provided for Top 40 semi-finalists as it is vital to equip the contenders with a right entrepreneurial mindset.
B. Business Development Service (BDS) – Business plan preparation module will be delivered by five BDS advisors for the Top 40 semi-finalists. The semi-finalists will get the chance to develop a detailed business plan to be reviewed by judges.
C. Access to Finance- Top 40 semi-finalists list will get access to loan.
The application consists of five sections;
- 1. Cover page: Questions to confirm your eligibility, and know more about your personal information.
- 2. Lead Applicant Profile: Questions about your education, experience, familiarity with EDI services.
- 3. Business Profile: Generic questions about your business.
- 4. Current Business Performance: Questions about the current status of your business.
- 5. Your Business Plan: Questions about your business expansion plan, specific goals & strategies, and competitive advantages.
- An applicant must be an Ethiopian citizen.
- An applicant must be majority owner of the business.
- The business is operating in any industry sector with a formal business license.
- The business has 0-50 employees.
- The business must be at least 1 year old with corresponding revenue history.
Only applicants who meet the criteria will have their application reviewed.
For most applicants, the application will take 1:00-1:30 hours to complete. You are required to edit and submit the application within the submission period from November to April 2023 tentatively.
All sections of this form MUST be completed prior to submission.
The application can be submitted in English, Amharic, and Afaan Oromo.
No other documents or attachments will be accepted. Late applications will not be accepted.
The information in this application will be kept strictly confidential. All information provided will be audited and verified for all winning businesses. If any information is found to be false or misleading, you will be disqualified from the competition and any future EDI's initiatives.
If you have any questions, please contact apply.ethioSpur@gmail.com and make a copy to email@example.com . All email queries will receive a reply within 2 business days. Alternatively, you may call the EthioSpur helpline: 8658.
Applications can be submitted at the EDI office or emailed to: firstname.lastname@example.org. Applicants can also complete an online application at bit.ly/3TzEl1E. The application template will be available at EDI HQ (Nega City Mall Building 3rd Floor Kazanchis, Addis Ababa - Ethiopia) and to download and print at Application Form English, Application Form Amharic, Application Form Afaan Oromo
Application Deadline: April 30,2023
Prizes: We expect to announce the prize winners by July 25, 2023. We will contact you using the lead applicant’s contact details as entered on the application form for all future communication.
Please note: One of EDI’s strategic focus is to create enabling environment for entrepreneurship and innovation via conducting research. By submitting your application to the EthioSpur Business Plan Competition, you are consenting to share your information with external researchers who may use it to contact you for additional information and to conduct research.
Frequently Asked Questions
What sector and type of business does the EthioSpur Competition prioritize?
There is no priority sector or type of businesses.
What are the eligibility requirements for the competition?
- An applicant must be an Ethiopian citizen.
- Existing Business (Micro and Small size)
- Total annual revenue must be up to ETB 5,000,000
- Operating in any industry sector with a formal business license.
- Be majority owner of the business.
- Business must be atleast 1 year old with corresponding revenue.
How will incomplete applications be considered?
Incomplete applications will automatically be disqualified from the competition.
Who do I contact if I need assistance or further information?
If you have any questions, please contact apply.ethioSpur@gmail.com and make a copy to email@example.com. All email queries will receive a reply within 2 business days. Alternatively, you may call the EthioSpur helpline: +251-115-571-150. Additional contact information for each EDI office can be found in the Application Guidelines.
I have an existing business, which is not yet registered. Can I still apply?
No, you need to have a formal business.
I have not received any EDI support before. Can I still apply?
Can I submit my application to any EDI office, or only the regional office that corresponds to my business’ location?
You can submit your application at any EDI office, by email, or through the online application.
Which language should I use to submit the application?
We recommend you complete the application in English, if possible. This is because applications completed in other languages will be translated into English, and we want to avoid any incorrect depictions of your business in the translation process. Therefore, it is best if you complete the application in English. However, applications are available in Afaan Oromo, and Amharic for your convenience.
Can I submit more than one application?
Yes, but only if you are the majority shareholder of another business. You cannot apply for twice for same business.
Can I make changes to my application after I’ve submitted it?
You can not make changes after the deadline.
What does the “majority owner” mean?
A person is a majority owner of a business if they own more that 50 percent of a company's shares or ownership.
What is the difference between profits and revenue?
Revenue is the total amount of income generated by the sale of goods or services related to the company's primary operations. Profit is the amount of income that remains after accounting for all expenses (e.g., operating costs, employee salaries, inventory purchases, debt payments, and so on).