1st Zakat & Sadaqat Foundation Business Plan Competition

Z & S is a non-governmental and non-profit organisation incorporated with the Corporate Affairs Commission of Nigeria with RC 21237 with the primary objective of delivering quality socio-economic welfare services to humanity especially the poor and needy Qur’an 9:60.

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ABOUT THE COMPETITION

1st Z&S Business Plan Competition is another creative scheme designed by Zakat and Sadaqat Foundation Nigeria to promote entrepreneurial traits of ingenuity, creativity and innovation with a view to tackling frontally the problems of poverty, unemployment and hopelessness confronting Nigerians. The 1st Business Plan Competition is conceived and designed to bring together business-minded Muslims (graduates and non-graduates) to compete and show-case their creative ideas/business plans before panel of experts. At the end, the successful applicants shall be provided funds to launch their business ideas into start-ups and for the start-ups to grow businesses to the next level. Z&S Business Plan aims to achieve the following: 1. Contribute to the development of entrepreneurship in Nigeria, 2. Stimulate and promote entrepreneurial initiatives among the Muslims, 3. Help Muslim entrepreneurs move their plans from “mere idea” to “real launch” and eventually to “sustainable growth” stages, 4. Encourage aspiring Nigerian Muslims with several financial and non-financial benefits.

BENEFITS

The participants/applicants shall be provided the following; 1. Seed funding/Start-up capital/Expansion capital, 2. Training materials on business plan development, 3. Mentorship from prominent Muslim entrepreneurs, mentors and professionals, 3. Networking opportunities with well-known entrepreneurs, investors, and potential partners, 4. Media exposure for finalist entrepreneurs

TYPE OF CONTEST

The Idea track attracts aspiring entrepreneurs who have an idea, research or technology but lack the financial resources to turn the idea into venture. The Growth Track is for entrepreneurs, who have already established their venture and looking forward to growing it. Each interested applicant will be required to indicate the track for which they are applying in their applications.

ELIGIBILITY

1. The competition is for any Muslim with the will to participate fully. Applicant can come in as an individual or a team with maximum of five (5), although there is no restriction on the total size of the venture’s founding team. 2. Individual application is allowed but applications by teams/partners are highly encouraged. In the case of team application, each team shall select a member who will be the “representative applicant” for the team/partnership in this competition, 3. The applicant shall be at least 20 years old and not more than 40 years old and able to defend their proposals 4. Only one submission is allowed as an individual or a team/partnership, 5. The products or services offered or intended to be offered should have commercialization potential, be legal, and Shariah-compliant.

TIMELINE OF THE COMPETITION

The key dates of the competition are provided in the table below: Submission of Business Plan March 25th – May 3, 2015 Screening of Submission May 4th, 2015 – July 15, 2015 Announcement of Finalists July 20th 2015 Oral Presentation/Award Ceremony August 12th, 2015

SUBMISSION GUIDE/CONTACT

1. Download the Business Plan Template as follows: Ideas Track https://www.dropbox.com/s/7ugnh0mc0pvcbe9/IDEA%20TRACK%20TEMPLATE%201.doc?n=271378501 Growth Track https://www.dropbox.com/s/l0hqpsfekkm4bye/GROWTH%20TRACK%20TEMPLATE%202.doc?n=271378501 2.Complete the Business Plan Template as specified in the template. 3. Send the completed Business Plan Template with a cover letter indicating your full names, contact email and phone numbers to the official email provide below before the deadline stipulated above. 4. Email: businessplancompetitionzsf@gmail.com N.B. We are targeting the youth. That is why the presentation of award will be done on Wednesday 12 August 2015 which is the International Youth Day of the United Nations. All enquiries should be made strictly through email provided above only.

 Culled from Zakat and Sadaqat Foundation

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