2025 ECOWAS African Forum on Research and Innovation (FARI) Startup Competition | How To Apply

The Economic Community Of West African States is inviting applications for the ECOWAS African Forum on Research and Innovation (FARI).

The ECOWAS 2025 African Forum on Research and Innovation (FARI) prize is awarded to the three (3) best start-ups or Innovators or Inventors in the region by the ECOWAS Commission.

In this post, more information about the program will be discussed for interested and qualified candidates.

ECOWAS African Forum on Research and Innovation Summary

• Host: ECOWAS
• Category: Competitions
• Eligible Countries: West African Countries
• Reward: Cash Prizes | Business Support
• No IELTS Required 
• Deadline: February 28, 2025

ECOWAS African Forum on Research and Innovation (FARI) Details:

The African Forum on Research and Innovation (FARI) is the ECOWAS forum dedicated to the promotion of Science, Technology and Innovation. Its creation was the subject of a decision (A/DEC/.1/6/21) by the eighty-sixth Ordinary Session of the Authority of Heads of State and Government.

For this second edition, ECOWAS approved the establishment of the Jury for the selection of the three (03) best Start-ups in the regional competition and the Scientific Committee of the Forum.

FARI-2025 involves the participation of start-ups, experts and Ministers of ECOWAS Member States in charge of Science and Technology, the President of the Republic of Benin (host country) and the Chairman-in-Office of ECOWAS.

Eligibility Requirements for ECOWAS African Forum on Research and Innovation

To be considered for the ECOWAS African Forum on Research and Innovation, start-ups must meet the following conditions:

• Come from an ECOWAS member country;
• Have their headquarters in an ECOWAS member country;
• Be less than five (5) years old;
• Respect the rules and deadlines for submission (Via the FARI website, www.fari-ecowas.com )

Benefits of ECOWAS African Forum on Research and Innovation

•  A FARI Innovation Prize is awarded to the three (3) best Start-ups or Innovators or Inventors in the region by the ECOWAS Commission;
• This prize rewards the efforts of innovation and creativity of young companies in the region;
• The value of the Prize to the FARI laureates will be determined by the President of the ECOWAS Commission.
• The terms of selection of the start-ups receiving the prizes will be defined by a Jury set up by the President of the ECOWAS Commission.
• The funds granted to the winning Start-ups during the FARI by ECOWAS and its partners are incentive funds.
• These funds may be used to finance the activities of Start-ups, Innovators and/or Inventors.

Selection Process for ECOWAS African Forum on Research and Innovation

Start-up selection criteria

a) Governance: marked out of ten (10) points

This criterion takes into account the formal declaration of the start-up, its level of employability (number of employees),
the consideration of gender (ratio of women/men) and the qualification of the management team (experience, level
of education, diplomas, etc.).

b) Management: rated out of ten (10) points
This criterion focuses on the growth stage of the start-up (Idea, Birth, Seeding, Growth, Expansion), the
status of mentoring and partnerships and collaborations.

c) Risk Management: marked out of  twenty  (20) points

This criterion focuses on the start-up’s positioning strategy on the market in relation to competition
and risks.

d) Financing: rated out of fifteen (15) points
This criterion takes into account the start-up’s method of financing (Self-financing; Loan; Investors; Lessor;
Fundraising, etc.) and its financial resources (Existence of working capital, others).

e) The economic and societal impact: rated out of fifteen (15) points
This criterion is based on the profitability, current profitability of the start-up (loss, neither loss nor gain, gain) and its
distribution channel (the marketing circuit of the products). It also makes it possible to evaluate the usefulness of the proposed product in
relation to the need of society.

f) Innovation: rated out of thirty (30) points
This criterion is used to evaluate the prices of products resulting from innovation, the originality of the products offered. It
also includes the protection of the idea or product through patenting.

How to Apply for ECOWAS African Forum on Research and Innovation (Step by Step)

To apply for the ECOWAS African Forum on Research and Innovation, interested and qualified candidates should use the button below to submit their applications.

CLICK HERE TO APPLY

Deadline: February 28, 2025