Applications for the ECOWAS African Forum on Research and Innovation Startup Competition FARI-2025 is currently going on.
See details about eligibility requirements, benefits, and method of application for ECOWAS African Forum on Research and Innovation Startup Competition FARI-2025 below.
Check:: 2025 Akwa Ibom State Student Bursary (How to Apply)
Summary of ECOWAS African Forum on Research and Innovation Startup Competition FARI-2025
| Host | ECOWAS |
| Category | Grants |
| Eligible Countries: | Nigeria |
| Title | Summary of ECOWAS African Forum on Research and Innovation FARI-2025 |
| Benefits: | Cash Prizes | Business Support |
| Deadline: | February 28, 2025 |
About ECOWAS African Forum on Research and Innovation FARI-2025
The African conference on Research and Innovation (FARI) is an ECOWAS conference that promotes
Science, Technology, and Innovation. The eighty-sixth Ordinary Session of the Authority of Heads of State and Government issued a decision (A/DEC/.1/6/21) establishing it. This is the decision to form and organize the African Forum on Research and Innovation of ECOWAS (FARI).
FARI is a regional exchange and discussion forum for scientists, technicians, innovators, decision-makers, the commercial sector, technical and financial partners, students, and the general public. It seeks to
(i) raise public awareness of the role of science, technology, and innovation in socioeconomic development;
(ii) increase the visibility of regional scientific and technological research; and
(iii) open up new avenues for collaboration between research, innovation, and private sector stakeholders.
At its 88th session, the ECOWAS Council of Ministers approved the decision of the ECOWAS Ministers in Charge of Science and Technology to hold the second edition of FARI in Benin in 2025.
For the second edition, ECOWAS approved the formation of a Jury to determine the three (03) top Start-ups in the regional competition, as well as the Forum’s Scientific Committee.
FARI-2025 brings together start-ups, specialists, and Ministers of Science and Technology from ECOWAS Member States, as well as the President of the Republic of Benin (host nation) and the ECOWAS Chairman-in-Office.
Objectives of the African Forum on Research and Innovation FARI-2025
These words of reference are intended to:
Choose three (3) national start-ups to participate in the regional exhibition at FARI. Recognize and award the top three (3) regional start-ups.
Expected Results
- Three national start-ups are selected to participate in the FARI show.
- The three (3) best start-ups were recognized at the regional level.
Conditions Of Participation Of Start-Ups
Eligibility of start-ups
To be eligible, start-ups must be from an ECOWAS member country, have headquarters in an ECOWAS member country, be under five years old, and follow submission rules and deadlines (source: www.fari-ecowas.com).
Start-up selection criteria
Governance: marked out of ten (10) points
This criterion considers the start-up’s formal declaration, employability (number of employees), gender ratio (men/women), and management team qualifications (experience, education, diplomas, etc.).
Management: scored out of ten (10) points.
This criterion evaluates the start-up’s growth stage (Idea, Birth, Seeding, Growth, Expansion), mentoring status, and partnerships/collaborations.
Risk Management: scored out of twenty (20) points.
This criterion evaluates a start-up’s market positioning strategy, taking into account competition and risks.
Financing: scored out of fifteen (15) points.
This criterion considers the start-up’s financing options (e.g., self-financing, loans, investors, lessees, fundraising) and financial resources (e.g., working capital).
The economic and societal impact: scored out of fifteen (15) points.
This criterion considers the start-up’s current profitability (loss, gain), as well as its distribution channel (product marketing). This allows for evaluating the proposed product’s usefulness in relation to societal needs.
Innovation: evaluated out of thirty (30) points.
This criterion is used to determine the prices of products resulting from innovation and the uniqueness of the products offered. Patenting protects ideas and products.
Stages of the start-up competition
The competition is open to any start-up that meets the eligibility conditions. It takes place in two (02) stages:
Step 1: Select national start-ups.
Online through the official FARI website.
The official website for the Forum is www.fari-ecowas.com.
Fill out the online form and get the application file.
Submit the application file online (www.fari-ecowas.com), on the Startups page.
Deadline for submissions: February 28, 2025 at 11:59 p.m. UTC.
Step 2: Winners will be selected.
In person at the FARI 2025 edition
FARI-2025 will be held from May 5 to 9, 2025 in Cotonou, Republic of Benin. Start-ups who passed the national selection stage will undergo the following tests:
Display of items, models, or prototypes from the chosen project.
A three-minute oral presentation of the project in front of the jury. The program and sequence of passage for each startup will be revealed after stage 1 findings are released.
Nature And Value Of The Fari Start-Up Prize
- The ECOWAS Commission awards the FARI Innovation Prize to the region’s top three (3) start-ups, innovators, and inventors.
- This honor recognizes the innovative and creative efforts of the region’s young companies.
- The President of the ECOWAS Commission will establish the value of the Prize for FARI laureates.
- The President of the ECOWAS Commission will appoint a Jury to determine the terms of award selection for start-ups.
- ECOWAS and its partners provide incentive funding to successful start-ups during the FARI.
- These monies may be utilized to support the activities of start-ups, innovators, and inventors.
Sectors Of Activity Concerned
- All sectors of activity are eligible for FARI-2025.
Mode of Application for the ECOWAS African Forum on Research and Innovation Startup Competition FARI-2025
To apply for the ECOWAS African Forum on Research and Innovation Startup Competition FARI-2025, kindly click on the application link below, then read through and follow the application steps.
TAKE YOUR CAREER TO THE NEXT LEVEL!
Join OgaJob WhatsApp group today and get access to latest job openings, grants, funding, internships, trainings, free past job questions and answers & career growth tips!