Aspire

Marcel Fafchamps and Simon Quinn

No 2014-34, CSAE Working Paper Series from Centre for the Study of African Economies, University of Oxford

Abstract: We gave US$1,000 cash prizes to winners of a business ideas competition in Africa. The competition, entitled ‘Aspire’, is intended to attract young individuals aspiring to become entrepreneurs. Participants were ranked by panels of judges composed of established entrepreneurs. Each panel selected one winner among twelve candidates; that winner was awarded a prize of US$1,000 to spend at his or her discretion. Six months after the competition, we compare winners with the two runners-up in each panel: winners are 30 percentage points more likely to be self-employed. Our findings imply that access to start-up capital constitutes a sizeable barrier to entry into entrepreneurship for the kind of young motivated individual most likely to succeed in business.

Date: 2014
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Related works:
Journal Article: Aspire (2017)
Working Paper: Aspire (2015)
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Persistent link: https://EconPapers.repec.org/RePEc:csa:wpaper:2014-34

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