A new technology challenge, the AI Revolution Challenge, has been launched. The contest, the brainchild of Sagarmata Technology, aims to uncover emerging African startups which demonstrate the ability to lead the advancement of commercial applications on artificial intelligence (AI).
Through the AI Revolution Challenge, which is open to startups in all the 54 African countries, Sagarmatha seeks to identify and later award an investment of US $1 million in cash in addition to marketing credits and prizes to a winning African startup.
The contest targets firms offering a product, service or platform which utilises artificial intelligence and machine learning techniques as defined by relevant scientific research. Also worth noting is that the contest is only open to companies registered and resident in Africa.
Businesses who illustrate the following criteria will be considered:
- Offer (or intend to offer) a product, service or platform that utilises AI techniques, as defined by relevant scientific research
- A product or service demonstrating global commercial applications
- Have had a minimum investment of $25,000 in seed funding or sweat equity / loans
- Availability to attend the finals event in South Africa in May 2018
To be considered, the startup has to fill in the entry form , share their details and an overview of the business (plus a presentation, either in PDF or PPT) that describes the product, team, market opportunity and financial projections.
Afterwards, the team has to complete the submission process via the aiRevo app. Here, they are required to shoot and upload a 5-minute video pitch, and include any support material. All these has to be submitted by March 31, 2018.
Qualifying startups will be contacted by May 2, 2018 with finalists being invited to present their innovation at a gala event in South Africa in May 2018.
- 1 December 2017: Applications Open
- 31 March 2018: Applications Close
- 30 April 2018: Finalists Selected
- May 2018: Final event in South Africa
Up to 20 innovative African startups will be given the opportunity to present their business plan at a gala event in South Africa, in May 2018.