By Rahim Abdul
The Paul Katema Foundation has announced an exciting boost for the Young Builders Challenge Season 1, increasing the top prize to K5 million from the initial K3 million, in a move aimed at encouraging innovation among young entrepreneurs.
The competition which targets college students and recent graduates, provides a platform for aspiring business minds to pitch groundbreaking ideas with the potential to create jobs and drive economic growth.
Founder Paul Katema said the decision to raise the prize money was inspired by the overwhelming interest the competition has generated.
“In just 48 hours after opening the application portal we received 371 entries and recorded close to 30,000 public votes, which shows the hunger young people have for opportunities,” Katema said.
Aside from the K5 million grand prize, the second-place winner will walk away with K2.5 million while the third-place winner will receive K1 million along with mentorship from top industry professionals.
Katema emphasized that the competition goes beyond cash rewards as mentorship is designed to equip winners with the skills and networks they need to sustain and grow their business ventures.
The selection process will combine public voting and assessments from a panel of expert judges, ensuring a balance between popular opinion and professional insight.
The winners will be unveiled in December at the grand finale.
The Young Builders Challenge is being hailed as a game-changer for Malawi’s youth entrepreneurship landscape, giving emerging innovators a chance to turn bold ideas into sustainable businesses while inspiring a culture of creativity and self-reliance.
