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1000 Alternatives > #PIWPitch
The Competition

August 2018

The Swahili Pot Hub and 1000 Alternatives announced a long-term strategic partnership towards spurring profit-driven companies whose products and service generate positive social impact for the Kenyan coastal counties.  

The MoU signed between the two organizations creates opportunities for collaboration in the identification, nurturing and investing in “lock-step” social enterprises that guarantee social impact in education, health, trade and housing by becoming commercially viable and sustainable. 

As a start, 1000 Alternatives has supported a pitch event and a prize awarded during the Pwani Innovation Week (PIW) 2018 held at Mombasa from the 3rd to the 7th of December 2018. 

The prize by the 1000 Alternatives is in return for equity for two winning social entrepreneurs among many to be identified through a call for proposals seeking scalable innovations in education and health.

All 12 companies that pitched during #PIWPitch at the PIW 2018 shall participate in a 4-month incubation programme from mid Jan 2019.

Each submission was judged based on the elements below.

  • Structure of Venture Summary: clarity and quality of writing; structure and sequence of ideas; the document reads well.
  • Innovation & Value Proposition: original/innovative idea; solving a problem for customers; must-have vs. nice-to-have; feasible, marketable, profitable.
  • Market Opportunity & Strategy: potentially large/fast growing market; niche identification; competitor and customer analysis; effective strategy.
  • Product & Services (Platform): clear product/service/platform description; product/service is superior to competitors; addresses actual customer needs.
  • Potential to invest in this idea: credibility and persuasiveness; it can work and will create value; understanding of entrepreneurship; demonstrates industry knowledge.
  • Social impact: Clear outline of the social impact and how it will be achieved and sustained.

The judging was in two stages:

  • Stage 1: Ranking of all applying companies by individual judges according to the judging criteria.
  • Stage 2: Pitches by the 15 top-ranked companies during the Pwani Innovation Week event.

The following process and timeline was followed towards and after the awarding of the prize:

Milestone By Date Key Contact points
Stage 1: Ranking of all applying companies by individual judges according to the judging criteria. 29th Nov Judges
Consolidation of rankings by judges to select top 15. 30th Nov Swahilipot Hub & 1000 Alternatives
Notification to companies to prepare for Pitch Day 2nd Dec Swahilipot Hub
Stage 2: Pitches by the 15 top-ranked companies during the Pwani Innovation Week event. 4th Dec Swahilipot Hub & 1000 Alternatives
First selection of top-5 from Pitch Day 4th Dec Swahilipot Hub & 1000 Alternatives
Award Ceremony 5th Dec #PIWPitch Awards by 1000 Alternatives
Due diligence of top 15 companies 5th Jan 1000 Alternatives
Cash transfers after due diligence passed 10th Jan 1000 Alternatives
Incubation programme starts for top 15 companies 20th Jan Swahilipot Hub & 1000 Alternatives
End of incubation programme 30th Apr Swahilipot Hub & 1000 Alternatives

For further information, please reach us using the contacts below:

Info@alternatives.world
http://www.pwaniinnovationweek.co.ke

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