Frequently Asked Questions about #VCC5

Value Creation Challenge (VCC) – Frequently Asked Questions

About the Program

 

1. What is the Value Creation Challenge (VCC)?
   The VCC is a dynamic incubation program designed to nurture entrepreneurship and drive innovation in Zimbabwe. It supports early-stage startups and business ideas by providing mentorship, training, funding, and networking opportunities to help transform ideas into successful enterprises.
2. What are the key focus areas or pillars of the VCC?
   The program focuses on four pillars: Innovative Technology, Creative Industries, Emerging Industries, and Sustainability. Each pillar targets businesses with innovative prototypes or Minimum Viable Products (MVPs) in these sectors.

Eligibility & Participation

1. 1. Who can apply for the VCC?
      The VCC is open to Zimbabwean citizens aged 18 to 40 with early-stage startups or existing businesses (typically 0-5 years old) with an MVP. The program encourages applications from all regions of Zimbabwe and prioritizes innovation in emerging industries, technology, creative sectors, and sustainability.
   2. Is the VCC open to non-Zimbabwean or foreign citizens?
      No, VCC is open only to Zimbabwean citizens.
   3. Are businesses operating in the diaspora eligible to apply?
      No, only businesses operating within Zimbabwe are eligible.
   4. Am I eligible if my company is not registered?
      Yes, company registration is not required. Both registered and unregistered startups or projects with a prototype or minimum viable product (MVP) may apply
   5. Do I need to be a member of Eight2Five Hub or any other hub to apply?
      No, membership is not required. The challenge welcomes all eligible Zimbabwean entrepreneurs.
   6. Am I eligible if I only have an idea and I’m yet to start the business? No, VCC is looking for businesses with a prototype or MVP. 

Application Process & Guidelines

1. Is there an application fee?
   No, applying to the VCC is completely free.
2. Can I apply in more than one pillar?
   No, you may only submit one application under a single pillar. Choose the one that best fits your business.
3. Can I review or edit my responses after submission?
   No, once you proceed to the next section or submit your application, you cannot review or change your responses.
4. What information or documentation do I need for my application?
   You will need to provide:

• Founder details (background and experience)
• Team details (key members and their roles)
• A clear description of the problem you are solving
• Market insights, including competitors and your unique value proposition
• Basic financials or projections demonstrating viability
• Your motivation for applying and how the VCC can support your growth

Selection & Support

1. What is the selection process for the VCC?
   Applications are reviewed and shortlisted candidates are invited to pitch their ideas. Finalists are selected based on innovation, feasibility, and potential impact.
2. Do I need a team to apply, or can I apply as an individual?
   Both individuals and teams can apply, though having a committed team can strengthen your application and execution capability.
3. What are the benefits of participating in the VCC?
   Participants gain access to expert mentorship, bespoke training, networking with industry leaders and investors, market access through pitching events and demo days, and valuable feedback and validation from experienced professionals.
4. Is there any funding available for participants?
   Yes, finalists may receive pre-seed funding from a pool of USD 30,000
5. What happens after the program ends?
   Participants continue to benefit from the VCC network, ongoing mentorship, and potential investment opportunities, supporting long-term growth beyond the incubation period.