Port Moresby, December 5, 2014 – The United Nations Development Programme (UNDP) and The Kumul Foundation Inc., with support from the Australian Government, are launching an exciting new Business Plan Competition in Papua New Guinea, the Kumul GameChangers Initiative, to identify, train and resource PNG’s most exciting emerging innovative entrepreneurs.
The launch on December 5, 2014 kick-starts the 1st phase of the Kumul GameChangers Business Plan Competition, where entrepreneurs with ideas and/or existing businesses are invited to submit applications demonstrating the financial viability and social impact of their enterprises. A planned 40 shortlisted entrepreneurs announced on March 30, 2015, will then undergo an intensive residential entrepreneurship start-up boot-camp training with the Kumul GameChangers Initiative’s partner IBBM, and will then have the opportunity to pitch to potential investors at the Kumul GameChanger’s Conference in May 2015.
“Keeping entrepreneurs at the core, the Kumul GameChangers Initiative recognizes that innovations and entrepreneurs, knowledge and capital required for their success need to come together to address development challenges in Papua New Guinea. Through the Kumul GameChangers platform, we will engage with private sector and government to develop impact enterprises – innovators who create social impact and make a productive contribution to the nation”, said UN Resident Coordinator/UNDP Resident Representative, Roy Trivedy at the launch event.
“We are excited about Kumul GameChangers’ partnership with the PNG Chamber of Commerce and Industry, the Business Council of PNG and the Business Coalition for Women. These types of strategic partnerships will support our collaborative efforts to support innovative and creative entrepreneurs. We envisage that the Kumul Gamechanger initiative will not only see good ideas being developed but also help turn these ideas into profitable businesses that will deliver essential services” said Australian High Commissioner to PNG, Ms Deborah Stokes.
According to leading Papua New Guinean entrepreneur Anthony Smare, director of the Kumul Foundation and a World Economic Forum Young Global Leader, “Successful entrepreneurship is about solving problems that we face every day in a sustainable way. Historically, smart young Papua New Guineans have been unable to take innovative ideas and translate them into successful enterprises largely because of the absence of an entrepreneurial eco-system that supports the entrepreneurial ambitions of Papua New Guineans. The Kumul GameChangers concept is the first step in establishing that ecosystem – by March 2015, after giving the country the opportunity to submit the best ideas, we will identify 40 emerging entrepreneurs with the most promising ideas, train them, resource them and give them the chance to change the game in a particular sector of PNG.”
The Kumul GameChangers initiative has lined up a host of services for entrepreneurs. Enterprises can expect to receive strategic mentoring, access to sector knowledge, media visibility and above all, the opportunity to fundraise.
The 2015 edition of the finalists will be announced at the Kumul GameChangers Conference, scheduled for May 4 – 6, 2015.
Competition is open to all individuals of Papua New Guinea. The deadline for submission is March 15, 2015. New web-site http://www.KumulGameChangers.com will be launched on December 5th and open the application process.