The Botswana Development Corporation (BDC) claims to have received 246 proposals for its Business Den competition.
Boitshwarelo Lebang, Head of Corporate Affairs and Strategy at BDC, stated that they are currently in the final stages of preparing for the final pitch.
“The space is planned for the end of March this year and the date will be announced after confirmation,” she told BusinessMonitor.
Early last year, BDC, the investment arm of the Botswana government, reached out to young entrepreneurs with unusual business ideas to submit their proposals for the Business Den competition at headquarters.
The competition gives entrepreneurs the opportunity to present their idea to a panel of successful businesspeople in Botswana and win up to 500,000 pesetas, including mentoring and regional business networking opportunities.
“We will support scalable ideas that have the potential to export to the African region. Only shortlisted entries will be invited to the pitch, and only winners will receive funding. ”
Corporation stated at the time. The competition is open to 100% young Botswana companies between the ages of 18 and 35. Both startups and existing companies qualify for this opportunity and all sectors are considered.
BDC had previously announced plans to spend up to P $ 750 million on various new projects, backed by resurgent finance and a P $ 800 million loan from the African Development Bank (AfDB).
Last year, BDC and AfDB signed a thematic credit line of 900 million pesetas for a term of 10 years. The injection will support the company’s long-term strategy to increase its investments in key sectors such as manufacturing, transportation, agricultural processing and services to support the transformation and industrialization of the economy. The transaction also supports BDC’s focus on securing its balance sheet to ensure financial sustainability while fulfilling its mandate as the main investment arm of the government.