REC@NNECT Challenge 2014 Announcement

I. Competition Snapshot

II. REC@NNECT Background

REC@NNECT builds entrepreneurial ecosystems across South and Central Asia by identifying and supporting promising entrepreneurs through competitions, skills development, networking within the global entrepreneurial community, and interactive mentorship. Eligible countries include: Afghanistan, Bangladesh, Bhutan, India, Kazakhstan, Kyrgyzstan, Maldives, Nepal, Pakistan, Sri Lanka, Tajikistan, Turkmenistan, and Uzbekistan.

REC@NNECT is a partnership between CRDF Global and the U.S. Department of State’s South and Central Asian Affairs Bureau. To find out more about the REC@NNECT, please visit www.reconnectsca.org

CRDF Global is an independent nonprofit organization that promotes international scientific and technical collaboration through grants, technical resources, training and services. CRDF Global is based in Arlington, Virginia with offices in Moscow, Russia; Kyiv, Ukraine; Almaty, Kazakhstan; and Amman, Jordan. For more information about CRDF Global, please visit www.crdfglobal.org   

The U.S. Department of State executes public diplomacy programs and other forms of technical assistance that seeks to enhance regional prosperity and stability in South and Central Asia through strengthening economic linkages.   Though challenging, countries in this region have much to gain by working together to develop policies to reduce trade and transit barriers, increase investments in their respective economies, and support regional cross-border projects.  Another key area in linking South and Central Asia is the sharing of ideas and leveraging the skills and productivity of the businesses in the region.  Businesses can expand economic markets that also create opportunities for youth, women, and minorities which can enhance regional security and prosperity. To advance U.S. foreign policy and foster a regional environment where invention, innovation, and industry thrive the U.S. Department of State engages foreign partners on economic  policy issues that support open, transparent, and meritocratic systems of governance, and implements capacity building programs that train young men and women to become entrepreneurs. For more information about this U.S. Department of State initiative, please visit http://www.state.gov/p/sca/

III. Scope of REC@NNECT Challenge  

Entrepreneurs from eligible countries in South and Central Asia are encouraged to participate in the REC@NNECT Challenge. REC@NNECT Challenge is designed to support technology entrepreneurs to launch and/or grow a company in South and Central Asia through:

• Training and mentorship by successful entrepreneurs, angel investors, and venture capitalists
• Networking opportunities
• Access to seed funding

The REC@NNECT Challenge application will be reviewed by expert judges. Ten finalists will be invited to the REC@NNECT Challenge Final Event (exact date and location TBD) to participate in the skills building workshops, pitch session, and award ceremony. The finalists will pitch in front of a panel of investors. Competition winners will receive awards ranging from $5,000 to $25,000.

Objectives:

• Accelerate the development and success of early stage companies and enhance the leadership capabilities of entrepreneurs by providing in-depth, tailored training and mentorship;
• Enhance knowledge and skills of entrepreneurs in areas such as -- but not limited to --  leadership, sales, marketing, investments, and successful team building; 
• Provide opportunities at the REC@NNECT Challenge Final Event for establishing linkages and building networks with distinguished entrepreneurs, investors, potential customers and supporters from the South and Central Asia region and beyond.

IV. REC@NNECT Challenge Eligibility

Competition applicants must meet all of the following criteria to be eligible to participate in the 2014 REC@NNECT Challenge:  

ELIGIBILITY CRITERIA

1. You must have a product (web application, mobile application, or physical product) or service focusing on science or technology solutions in sectors such as information and communication technologies (ICTs), energy, agriculture, and health. Your startup should be a for-profit entity. Social enterprises are eligible if they have a business model that relies on customers in order to stay self-sustaining.
2. The product or service must currently be at a demo/prototyping stage or already have been introduced to the market.
3. The applicant must be at least 18 years old and able to both read and speak English proficiently. The REC@NNECT Challenge application must be written in English.
4. Any member of a team can only enter the competition once with one submission. Each team must select a member who will be the applicant for the team in this competition.  
5. The applicant must be either a permanent resident or citizen of the following eligible countries: Afghanistan, Bangladesh, Bhutan, India, Kazakhstan, Kyrgyzstan, Maldives, Nepal, Pakistan, Sri Lanka, Tajikistan, Turkmenistan, and Uzbekistan. U.S. citizens or permanent residents are not eligible to participate in the REC@NNECT Challenge.
6. The applicant must hold a valid passport and be eligible to travel to participate in the REC@NNECT Challenge Final Event, if selected as a finalist.
7. The applicant should be ready and available to present the startup during the REC@NNECT Challenge Final Event; location and date to be determined.

Additional Criteria for Eligibility:

U.S. citizens or permanent residents are not eligible to participate in the competition even if they are also a permanent resident or citizen of a REC@NNECT eligible country.

Applications that fall under the following categories will not be accepted:

• Pure research projects with no demonstrable commercial potential
• Charity organizations or foundations (not-for-profits)
• Organizations that buy and resell technologies and other goods

Applicants from Uzbekistan are required to secure a written authorization (“заключение”) from the Committee for Coordination of Science and Technology Development under the Cabinet of Ministers of the Government of Uzbekistan prior to submitting an application to the REC@NNECT Challenge. To allow for sufficient time for the Committee to process these requests, applicants are encouraged to contact them as early as possible. Requests for this authorization should be addressed to:

Committee for Coordination of Science and Technology Development,
Cabinet of Ministers of the Republic of Uzbekistan
Executive Director
Cc: Dr. Rustam M. Saidov
Head of Department on Development of International Science and Technology Cooperation
70 Yakhe Gulyamov Str.,
100047 Tashkent, Uzbekistan
Tel.: 998-71-233-24-53
Fax: 998-71-232-25-62
Email: saidov@ftk.cc.uz
Url: http://ftk.cc.uz

V. Application Instructions and Judging Criteria

Each complete application will be reviewed by judges who will use the following criteria and percentage weight to evaluate the full application. The 10 finalists will be selected by averaging the scores given to each applicant. The 10 finalists will comprise a maximum of 3 per country and at least 3 each from the Central Asian region and the South Asian region, given sufficient availability of eligible proposals. Each applicant will be notified by September 17, 2014. The structure of the application is explained below:

VII. REC@NNECT Challenge Selection Process

Below is a simple chart that helps explain the key dates of the different phases in the REC@NNECT Challenge. Following the chart is a more detailed narrative of each phase.

Phase 1: Submission: June 24, 2014 to August 21, 2014

A complete REC@NNECT Challenge application consisting of an Executive Summary must be submitted to the REC@NNECT website by August 21, 2014, at 17:00 US EDT. Applicants are advised to allow ample time before the deadline to submit their application. This will ensure timely assistance by CRDF Global program staff if there are technical issues with the submission. During July and/or August, potential applicants will be invited to attend a webinar or local trainings organized by local partner organizations, where applicants and their teams will acquire skills to improve their application. Applicants who have already submitted their applications prior to the webinar or trainings will be allowed to improve their applications up to the August 21, 2014 deadline.

Phase 2: Application Review and Finalist Selection:
August 22, 2014 to September 17, 2014

Expert judges will select up to ten finalists, based on the evaluation criteria outlined in Section V. Applicants will be notified of the results via email by September 17, 2014. Results will also be announced on the REC@NNECT website, REC@NNECT Twitter, and REC@NNECT Facebook. (All participants are strongly encouraged to follow REC@NNECT on Facebook and Twitter at https://twitter.com/REC_SCA and https://www.facebook.com/ReconnectSCA )

Phase 3: Preparatory Mentorship: September 18 – October 2014

The ten finalists will be matched with mentors for one hour mentoring sessions prior to the REC@NNECT Challenge Final Event. The mentors will work with the finalists on different aspects of their business pitch for the REC@NNECT Challenge Final Event. Among topics covered will be Business Model Canvas, customer development, marketing, and adjusting your business to market demands.

Phase 4: REC@NNECT Challenge Final Event

The ten REC@NNECT Challenge finalists will be invited to the REC@NNECT Challenge Final Event, with travel expenses covered, to receive personalized coaching and mentorship from serial entrepreneurs and investors and to participate in pitch sessions and the award ceremony.

Final Pitch

The pitch will comprise 5 minutes of presentation and 5 minutes of Q&A (10 minutes total).The presentation will be delivered in front of a live audience and judged by a panel of experts comprising entrepreneurs and investors. Award winners will be decided based on the score they received at the pitch sessions.

The selection criteria for the final round will be communicated to all the finalists prior to the pitch sessions and may include:

• The Market problem and solution is clearly stated: The problem or need is real, customer has significant unfulfilled demand that the venture addresses in a way that is profitable, innovative, and efficient.
• Revenue Model and financials: There is a clear revenue model with reasonable financial projections in terms of sales, profit margins, and expenses
• Exit Opportunity: Potential acquirers are identified, potential exist strategies and options are identified
• Target Market: Target market is sufficiently large and growing, customer is well defined
• Competition: Demonstrates understanding of market competitors, including direct  vs. indirect competition and barriers to entry are articulated
• Traction: There is market validation, milestones are established, an MVP has been built, key success metrics are defined
• Team: Management team has appropriate skills, industry knowledge, relationships
• Presentation skills: The presenter clearly and effectively responds well to questions and comments from the judging panel

Phase 5: Ongoing Mentorship: November 2014 to December 2014

Each of the ten REC@NNECT Challenge Finalists will be eligible to receive mentorship. Each finalist will need to indicate his/her commitment to the mentorship program by signing an agreement. Mentorship sessions will be delivered by an experienced business expert and will last for three consecutive months (three hours total) following the REC@NNECT Challenge Final Event.  

The ten 2014 REC@NNECT Challenge finalists will be eligible to receive awards totaling well above $50,000 USD.

REC@NNECT Challenge Award Table:

VIII. Additional Awards

The top 10 REC@NNECT Challenge finalists will be eligible to compete for additional awards.

Three TechCrunch Disrupt Scholarships - London, England

Each of the ten REC@NNECT Challenge Finalists will be eligible to receive one of three scholarships to attend TechCrunch’s Disrupt Europe.  Each scholarship consists of a travel stipend of $2,000 USD to be used by the awardee to cover the cost of a round trip flight to London, hotel accommodations, visa fees and participation in Startup Alley at TechCrunch’s Disrupt Europe. Disrupt Europe will be held October 20 and 21, 2014.  These scholarships are made possible through a partnership with TechCrunch. Scholarship recipients will be announced by September 17, 2014.

One Consumer Electronics Show (CES) Scholarship – Las Vegas, USA

Each of the ten REC@NNECT Challenge finalists will be eligible to receive a $3,000 scholarship to attend the CES in Las Vegas, USA on January 6-9, 2015. This scholarship is sponsored directly by CRDF Global. Scholarship recipient will be announced by December 1, 2014.

Three Exhibition Places at Tech in Asia – Jakarta, Indonesia

REC@NNECT Challenge finalists in the ICT field will be eligible to receive one of three exhibition places at Tech in Asia event to be held in Jakarta, Indonesia, dates to be announced. The exhibition places are made available through a partnership with Tech in Asia. Recipients will be announced by December 1, 2014.

X. Special Requirements

Export Control

CRDF Global complies with all U.S. laws and regulations and applicable international law pertaining to export controls and to the participation of foreign nationals or institutions in its activities. It is CRDF Global’s policy not to conduct any transactions with U.S. restricted entities without appropriate authorization from the U.S. government, including licenses and other permits and restrictions. CRDF Global reserves the right to restrict the participation of any individual or institution in its programs.

Protection of Confidential Information

Applicants are responsible for identifying any written business confidential information contained in their application materials. CRDF Global assumes that no business confidential information will be disclosed by an applicant including the initial application and the business pitch presentation. If there is a valid need to provide any business confidential information after selection as a finalist, such written information shall be clearly marked so that CRDF Global can, to the degree reasonably possible, protect it by restricting its exposure to authorized staff, its funding and oversight agencies, and external U.S. and international business reviewers and judges. Independent U.S. and international business reviewers and judges retained by CRDF Global, as well as all personnel of CRDF Global and its partner organizations, are required to adhere to strict standards of confidentiality in the handling of all business confidential information contained in any written materials.

Intellectual Property

CRDF Global makes no claim to intellectual property rights under any award.

XI. Additional Information and Support

Questions and correspondence regarding this competition announcement should be directed to the REC@NNECT Team member referenced below. Applicants are requested to identify themselves in all correspondence and to put the phrase “REC@NNECT Challenge” in the email subject line. CRDF Global may choose not to disclose certain information in a response to any question or query, if in our view such details would affect the fairness or transparency of the competition or convey an undue advantage to an applicant. Applicants are encouraged to review the Frequently Asked Questions (FAQ) on the website on a regular basis as answers are updated daily while applications are being accepted. CRDF Global also reserves the right to disclose to all other applicants an answer or clarification to a question from an applicant in the interest of fairness, objectivity, and transparency of this competition.

CRDF Global

Attn:  Amanda Gant

1776 Wilson Boulevard, 3rd Floor

Arlington, VA 22209

Tel: 703-526-6758

E-mail: reconnectsca@crdfglobal.org