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What is the Entrepreneurship World Cup and how does it work?

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This international competition arrives in Colombia for the first time and faces entrepreneurship projects from around the world

What is the Entrepreneurship World Cup and how does it work?

The Entrepreneurship World Cup (EWC) is an international competition organized by the Misk World Forum in partnership with the Global Entrepreneurship Network. It is for entrepreneurs from all over the world with all kinds of start-ups, whether in the initial, idea, or growth stage. The cup has around 100,000 entrepreneurs from 100 countries.

Leer en español: ¿Qué es y cómo funciona la Copa Mundial de Emprendimiento?

The competition delivers a total of USD $ 5 million in prizes, but also provides participants with new investment opportunities, as well as commercial connections and different forms of advice. The 118 winners each year receive three major global awards for entrepreneurs in stages of idea and growth, 15 awards in the global finalist stage that will include awards to social and industry-specific companies, and finally 100 national awards.

How does it work?

The application to participate in the Cup this year is now open here and will be receiving applications until the end of the month.

After the registration phase, the projects participating in the competition will enter a virtual training stage focused on strengthening the business vision, customer and industry knowledge, creativity and problem-solving skills.

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In the month of June, the national competitions will be carried out in a virtual way and 100 new projects will be selected that will receive prizes and will advance to the third stage. Between July and September, the national winners will prepare for the final while receiving new virtual training and will be enrolled in the Starters Club.

Finally, the 10 finalists will go through the live training in the month of November to then compete in the grand final that will take place in Riyadh, Saudi Arabia.

The EWC arrives in Colombia

This year, for the first time, iNNpulsa Colombia and the Ministry of Commerce, Industry, and Tourism will bring the cup to Colombia. The best entrepreneurs in the country will be selected from June 1 by the EWC and iNNpulsa Colombia to receive national awards.

Also, according to the Contamos portal, the Colombian finalists and the winner of the country may opt for $ 40 million pesos in prizes. Some of these many awards include:

• A process of pre-acceleration and accompaniment by INNpulsa Colombia in which the winner of the cup will be able to strengthen its business plan through a validated methodology.

• Specialized consultancies and workshops offered by the firm Gabriel Mauricio Bonilla.

• A workshop focused on the strategic use of intellectual property for technology-based ventures (technological surveillance, patents, trademarks, and industrial designs). In-person or virtual assistance with a duration of 6 hours, taught in two days of 3 hours.

• A workshop/talk focused on the development of food products (sensory analysis, estimation of shelf life, etc.). In-person or virtual assistance with a duration of 6 hours, taught in two days of 3 hours.

• Specialized consultancies and certified virtual training provided by WIPAD.CO.

Likewise, other countries in the region that participate in the cup and can benefit from their own national awards are Argentina, Bolivia, Brazil, Chile, Costa Rica, Cuba, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama, Peru, and Venezuela. Regarding the countries that are not on the list, the official page of the cup clarifies that "The EWC is intended for the widest audience possible. However, it is possible that a very small number of countries can not participate at this time." 

 

LatinAmerican Post | Sofía Carreño

Translated from "¿Qué es y cómo funciona la Copa Mundial de Emprendimiento?"

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