There will be 1 overall winner and up to 20 additional winners and finalists. Winners will win a combination of seed capital and aftercare (business development services). Many of the winners will also win loan or investment capital from financial institutions or investors. Several finalists will also win aftercare awards (business development services). At least $100,000 in seed capital and $100,000 in aftercare will be awarded across the winners and finalists.

All Phase II and III participants will receive a Believe Begin Become certificate commemorating their participation and achievement. To learn more about the benefits and awards of Believe Begin Become visit the ‘Benefits and awards’ section of the website.

Distribution of awards
Cash awards will be paid directly to the vendors and service providers selected by the winners according to approved investment plans and through the determined process as outlined in the award manual. The first request must be made within six months after having been declared a winner and the final payment must be made within 12 months of the end of the competition.

Aftercare awards will be distributed in a similar manner as cash awards as outlined in the awards manual, except that aftercare awards will be disbursed only to the pre-approved business development service providers.

Winner obligations
The winners will sign a contract in which they bind themselves to invest the seed capital (cash) awarded directly into the project described in their submitted business plan. Winners of Believe Begin Become will be expected to participate in a variety of media events after the conclusion of the competition. All winners are subject to a Believe Begin Become audit for the first three years of the life of the business or the expansion. Additionally, all winners must present quarterly financial reports to the Believe Begin Become implementing agency (TechnoServe) for verification.

Note on access to finance:
Believe Begin Become organizers will provide for networking opportunities with potential financing sources and investors, either in informal discussion sessions, or as organized events during Phases II and III of the competition and post-competition. However, Believe Begin Become does not guarantee participants that their business plans will be funded as a result of participation in the competition (except to the seed capital award winners). Also, should outside finance providers (banks, venture capital firms or private equity funds) make contact with participants as a result of the competition Believe Begin Become will not manage their confidentiality arrangements. This assumes that in such instances the standard confidentiality practices of the given finance providers will be applied.