TotalEnergies, a global leader in petroleum product distribution, has unveiled a new initiative aimed at supporting startup entrepreneurs in Ethiopia.  The energy company has announced plans to award 100 start-up entrepreneurs from across the continent.  Accordingly, TotalEnergies Marketing Ethiopia will award more than 431,000 ETB in three award categories.

The competition, which spans 32 African countries, seeks to recognize and reward innovative startups driving socio-economic development across the continent. This marks the fourth round of the competition and underscores TotalEnergies’ ongoing commitment to fostering innovation and entrepreneurship in the regions where it operates.

Since its inception in 2015, the competition has recognized a total of 365 winners selected from a pool of 40,000 applicants worldwide. In the upcoming 2024/2025 edition, TotalEnergies aims to support young Ethiopian entrepreneurs under the age of 35, operating in various business sectors.

According to a statement released to Capital, each winner of the competition will be designated as a “Startupper of the Year by TotalEnergies” and will receive a monetary award of 431,550.00 ETB. Additionally, winners will benefit from personalized support and a comprehensive communication campaign to boost the visibility of their projects.

TotalEnergies’ footprint in Ethiopia extends beyond its support for entrepreneurship. The company has been a trailblazer in the energy sector, notably implementing onboard computer systems in fuel trucks and company-owned vehicles, setting new standards for efficiency and innovation in the market.

As TotalEnergies continues to spearhead initiatives to empower aspiring entrepreneurs, the Startup Entrepreneurship Competition represents a significant opportunity for Ethiopian innovators to showcase their ideas, receive vital support, and contribute to the country’s vibrant startup ecosystem.