The OpEx Prize Competition successfully entered its third phase of Aptitude Testing, Pitching & Judging on the May 18-19, 2021. Twenty-four (24) applicants out of the over one hundred and thirty (130) young Ghanaians who applied were invited and given the opportunity to pitch their ideas to a panel of judges via virtual and physical means.
The judges, looked out for that ‘X-factor’ that made the applicants idea stand out. Ten (10) out of the twenty-four (24) applicants who score the highest points by the judges will be making it to the next round to undergo a week-long training exercise. After that, they will enter an incubator and be given access to mentors, technical support and funds.
The OpEx Prize Competition was launched on the 3rd of March 2021 with the aim of unleashing Ghana’s tech potential by unearthing and sponsoring young Ghanaian tech entrepreneurs or ‘Techpreneurs’ who are using technology and have a sustainable business models which could be scaled.
This project is a collaboration between Dalex Finance and the Council for Scientific and Industrial Research (CSIR) – Institute for Scientific and Technological Information (INSTI)/Technology Development and Transfer Centre (TDTC).
Who qualified to participate in The OpEx Prize Competition?
Ghanaians aged from 18-35 years, one application submitted per applicant, show ownership of project or solution, show existence of a minimum viable product and services (only products and services using technology).
The OpEx Prize Competition covers the thematic areas of Finance, Agriculture, Health and Education with the objective to give young Ghanaians (18 – 35 years) the opportunity to leverage technology for wealth creation.
The applicants went through rigorous Application Stages:
- Submission of application – applicant submitted the links to all required documents and videos granting access or the required permission to allow Professional Reviewers (3rd part) access to the links. Each application had three (3) independent Professional Reviewers assessing them to determine if they had met the requirements of the competition.
- Initial Shortlisting – An initial shortlisting was done based on the following criteria: whether or not the applicant presented a clear and focused product and or service, if the product and or service would have social impact, has the potential to bring system change and scalable. Twenty-four (24) applicants out of the over one hundred and thirty (130) were successfully shortlisted, contacted and scheduled for the just ended third phase of Aptitude Testing, Pitching & Judging.
- Aptitude Testing, Pitching & Judging – The successful shortlisted twenty-four (24) applicants from across the country were invited and given the opportunity to pitch their products and or services to a panel of judges (both physically and virtually) on Tuesday, 18th and Wednesday, 19th of May, 2021.
- Announcement of Finalist – Ten (10) finalists with the highest score will be announced on Monday, 31st May, 2021. This will be published on The OpEx Prize Competition website opexprize.org. These ten (10) winning finalists, will be receiving the cash prize of GH¢10,000 each as well as mentorship, coaching and training during a six (6) months incubation period (subject to terms and conditions).
- Training Exercise – The ten (10) successful finalists will undergo a week-long training exercise to orient and impact the necessary skills and knowledge.
- The Council for Scientific and Industrial Research (CSIR) – Institute for Scientific and Technological Information (INSTI) MAKERSPACE will serve as the Incubating Centre providing world-class facilities and conducive environment with experts to support the successful finalists.
The Executive Council of The Opportunity Exposure (OpEx) Prize “Made for the World” do extend their gratitude to all those who made the effort to apply for the competition, the shortlisted applicants, reviewers, judges and all stakeholders.
Look out for the announcement of the ten (10) Winners of The Opportunity Exposure (OpEx) Prize Competition finalists on Monday, 31st May 2021 on www.opexprize.org .
Kenneth Thompson, (Chairman, The OpEx Prize & CEO of DALEX Finance) said: “The OpEx Prize Competition aspires to empower young people for national development and wealth creation. Everyone has talent, what our young people need is Opportunity and Exposure”.