Sponsoring Agency: Jack Ma Foundation
Deadline Available: Available
Deadline Date (mm/dd/yyyy): 06/07/2021
Size of the Fund: USD $50,000 to $500,000
Nominations are now open for the African’s Business Heroes Prize Competition 2021. ABH aims to identify, support and inspire the next generation of African entrepreneurs who are making a difference in their local communities, working to solve the most pressing problems, and building a more sustainable and inclusive economy for the future.
The initiative aims to be as inclusive as possible. Applications are open in English and French to entrepreneurs from all African countries, all sectors, and all ages that operate businesses formally registered and headquartered in an African country, and that have a 3 year-track record.
Every year, ten finalists will be selected to compete in the ABH finale pitch competition and participate in a TV Show that will be broadcast online and across the continent. The finalists will compete for a share of US $1.5 million in grant money.
Why Apply?
• Pitch business legends: Opportunity to pitch to business legends and receive advice from them.
• Gain global recognition & exposure: International publicity via the televised Africa's Business heroes Show, press releases, news articles, and TV/radio & print interviews.
• Get connected with entrepreneur’s ecosystem: An online community of ABH Alumni, judges and key stakeholders that promotes peer learning, engagement and networking.
• Win YOUR share of $1.5 million USD: All ten finalists win grant funds from $100,000 to $300,000.
• Access mentorship & training: Tailored Feedback, Mentorship & Training via the Africa's Business Heroes Network of Partners and Judges.
Eligibility Criteria
To apply for this competition, you should meet the following criteria:
• Applicant should be the Founder or a Co-Founder of the company.
• Applicant has African citizenship or is the child or grand-child of an African citizen.
• The Company is registered and headquartered in an African country, and primarily operates in Africa.
• Company is post-Idea stage. Business is 3 years old or more and has at least 3 years of revenue history.
How they select their Heroes?
• Round 1: An online review of submitted applicants to determine their Top 50 Finalists. Each application will be reviewed by two judges. The Top 50 Finalists will be determined by the average scores of all applications.
• Round 2: Video-Call interviews with two established business leaders who engage in a 1 hour and a half in-depth assessment of the company and finalist. The Top 20 Finalists will be determined by the average scores of all 50 Finalists.
• Due Diligence: Their Top 20 Finalists will need to pass due diligence checks by their partner: Price Waterhouse Coopers (PwC) in order to move to the Semi-Finale round.
• Semi Final Pitch: Their short-listed finalists will pitch to a panel of distinguished and experienced panel of investors, business leaders and professionals who will determine their Top 10 Finalists.
More information at: https://www.africabusinessheroes.org/en/the-prize/overview
