DUBAI // After six months of semi-finals around the world, around 200 selected startups from Nigeria and other countries will compete in Dubai in the world’s largest early-stage startup pitch competition tagged Supernova Challenge 2.0. The company aims to raise 10,000 dollars (more than 300 million nebula).
Nigeria is quickly emerging as a vibrant hub for startups, especially in the technology sector. The past few years have been significant for the startup ecosystem, with many Nigerian startups gaining visibility and relevance nationally, in Africa, and internationally.
Over the past few years, Nigerian startups have continued to grow by leaps and bounds despite the economic downturn. This is being facilitated by the huge population with access to technology and the new introduction of startup support systems into the ecosystem.
Here’s what the Supernova Challenge 2.0 judges are looking at:
The general screening criteria for selected startups are categorized into key areas.
Idea: How innovative is this idea?Market opportunity: Market size, competition, scalability. Business model: Revenue model, pricing, and target customers. Traction: Do you have revenue, customers, investors?Team: Do you have a skilled team in place to help your startup succeed?
What is the prize?
1st place is $100,000, 2nd place ($60,000) and 3rd place ($35,000). There are also special awards: Women in Tech Award: ($10,000). YouthX Prize ($9,000) and more.
More than 20 companies will advance directly to pitch as part of the Supernova Finals, which will be held on the fourth day of the event.
Supernova Challenge 2.0 offers startup founders the opportunity to take home a $200,000 cash pool with no equity. The stakes are even higher this year with new prizes announced for second and third place.
The 200 selected exhibiting startups had the opportunity to pitch directly to investors in monthly rounds, providing additional exposure and investor introductions prior to Expand North Star.
Expand North Star will be held concurrently with GITEX GLOBAL 2024, the world’s largest and most rated technology and startup event, held at Dubai World Trade Center (DWTC).
While bringing the entire startup ecosystem to the UAE and accelerating the rapid growth and development of the world’s most popular startups, this year’s edition is also the largest and most international ever with participation from over 100 countries. .
The globally acclaimed Supernova Challenge 2.0 also showcases the best startups from Europe, Asia and Africa, building momentum for the much-anticipated new GITEX EUROPE Berlin, GITEX ASIA Singapore, GITEX Nigeria and GITEX AFRICA Morocco in 2025. I will increase it.
Younger generations will also be in the spotlight through GITEX YouthX Unipreneur, with YouthX Talks and Educators Innovation Pitch among the highlights of the schedule, as a proactive and engaging way to connect UAE youth with Dubai’s economic policy. We will gather.
Iheani Nwachukwu
Iheanyi Nwachukwu is a creative content writer with over 18 years of journalism experience writing articles on banking, finance and capital markets. The multiple award-winning journalist is an assistant editor at BusinessDay. Iheanyi holds a Bachelor’s degree in Economics from Imo State University. She holds a Master of Business Administration (MSc) from the University of Lagos. Iheanyi has attended several job-related trainings including; (i) Advanced Writing and Reporting Skills (Pan African University, Lagos). (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); (iii) Capital Market Development and Regulation (International Law Institute {ILI}, Georgetown University, Washington, DC, USA);
