The Entrepreneurship World Cup (EWC) stands out among startup competitions as one of the world’s largest and most diverse, engaging over 400,000 entrepreneurs from more than 200 countries and territories every year since it was launched in 2019.
In addition to the enormous financial incentives of US$1 million in cash prizes, the EWC gives participants unique opportunities to engage in training, as well as to gain access to a vast network of investors and industry experts.
Structure and Opportunities
The EWC is crafted for individuals at different stages of entrepreneurship–Early Stage, Idea Stage and Growth Stage–as well as diverse sectors such as Mining, Health Monitoring and Resource Management. Space tech will also be joining the competing sectors in 2025.
These are the steps to join the competition:
- Application Process: Entrepreneurs apply on the official EWC website by describing their business models, marketing approaches, and projected growth.
- Virtual Training: Registered participants attend a set of training sessions where they learn pitching, business development, financial planning, and other crucial skills.
- National Competitions: Participants start competing in national and regional qualifiers and the finalists move to the global competition. This ensures that all selected startups benefit from the local ecosystem before expanding internationally.
- Global Finals: After global pool selections and a bootcamp for the top 250 companies, the “EWC 1OO” or top 100 finalists, battle it out in their specific categories for cash prizes and other forms of monetary support after pitching their projects to a distinguished panel of judges.
Canadian Participation and Success Stories
Canada has always had a strong entrepreneurial feature in EWC. During the finals that took place in Riyadh, Saudi Arabia in 2019 (which, incidentally was the first occurrence of the competition), Canadian medtech NERv Technology emerged as the winner in the global pitch competition and was awarded a cash prize of US$500,000 as well as perks and free support and services.
In subsequent editions, Canadian contestants have done great and during the 2024 competition, three Canadian companies made it to the EWC 100 finalists: Carbon Lock Tech, DOUBL Manufacturing Ltd. and Neuropeutics.
Benefits for Entrepreneurs
On top of the obvious appeal of the cash prizes, there are several additional reasons why one would desire to participate in the EWC:
- Global Exposure: The competition is an opportunity for startups to appeal and market themselves to potential investors as well as partners and customers.
- Comprehensive Support: The EWC does more than invest money. They go ahead to provide mentorship, training, and resources for startups.
- Networking Opportunities: Innovators, industry professionals, and investors around the world build valuable connections with fellow entrepreneurs.
The EWC can be useful for entrepreneurs looking to grow internationally, however, it is not designed to facilitate immigration to Canada directly. That being said, attending the conference can help bolster a founder’s credibility by showcasing one’s ability to innovate and create viable business opportunities; traits that Canadian programs such as the Startup Visa Program are looking out for.
For entrepreneurs looking to create or relocate their businesses to Canada, the Startup Visa Program proves to be an effective option as it is centred around obtaining support from specific Canadian entities. To help in this endeavour, Startup Visa Services helps make sure that founders satisfy the conditions required to start and develop their enterprises in Canada.
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