Over 500 East African entrepreneurs battle it out in 2X Invest2Impact contest

Over 500 women from Ethiopia, Kenya, Rwanda, Tanzania and Uganda have so far entered the 2X Invest2Impact competition.

The competition is open to all women entrepreneurs in the region through four tracks: 2Xcelerate for women-led business owners, 2Xcapital for SMEs, 2Xcrowd for crowd funding campaigns and 2Xcatalyze for network building.

“This will support women entrepreneurs seeking to make a positive impact on local economies and who are strong candidates for future investment. This will be achieved by providing them with mentorship, business development services, visibility, and the opportunity for funding,” a statement from the organizers reads.

Final call for entries ends in September 2019.

Six international firms have teamed up to link up women entrepreneurs in East Africa with targeted investment funds and more opportunities to expand their businesses.

They include Graca Machel Trust, FinDev Canada, CDC Group plc of the United Kingdom, Proparco of France, Overseas Private Investment Corporation (OPIC) and the Mastercard Foundation.

In the first category, outstanding applicants stand to win $25,000 (Ksh.2.5million) for empowering other women in the workplace.

The second category focuses on youth employment and the prize money is $20,000 (Ksh.2million).

The third one targets women whose focus is climate change and the environment: They also stand to win $20,000 (Ksh.2million).

In the final category, the award will also be $20,000 (Ksh.2million) for those who will have leveraged technology to help the communities they work with.

Winners of the 2X Invest2Impact Awards will be announced on November 25 this year in Rwanda.