the-africa-business-heroes-competition

Application Deadline Extended: 17th May 2023, 23:59 GMT.

The Africa Business Heroes (ABH) aims to identify, support, and inspire the next generation of African entrepreneurs who are making an impact 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 who operate businesses formally registered and headquartered in an African country, and that have a 3 year-track record.

Requirements:

To apply for our competition, you should meet the following criteria:

• You’re the founder or a co-Founder.
• You’re an African citizen or the direct descendant (child/grand-child) of an African citizen.
• Your company is registered, headquartered and primarily in an African country.
• Your company has market traction and at least 3 years of revenue.

Benefits

• Every year, ten finalists will be selected to compete in the ABH grand finale pitch competition and participate in a TV Show that will be broadcast online and across the continent. The finalists compete for a share of US $1.5 million in grant money.
• All finalists also join an exclusive community of like-minded entrepreneurs, business professionals, investors and mentors. In addition, they get access to training and networking opportunities to further support them on their business journey.
  

Grant funds of up to $300 000

• The Top 10 finalists share a prize pool of $1.5 million in grants ranging from $100,000 to $300,000.
• The first prize takes home $300,000; The 2nd and 3rd prize winners take home $250,000 and $150,000 respectively. All other 7 finalists, take home $100,000. An additional $100,000 is allocated for training.

Global recognition and exposure

• ABH spotlights talented African entrepreneurs as finalists progress in the competition via press releases, social media, and news articles at every stage of the competition. We also provide significant exposure opportunities to the Top 10 finalists via the Africa’s Business Heroes Show, which is distributed across 40+ African countries.
• Access to an exclusive & vibrant entrepreneurship community and network
• Finalists join an exclusive community of some of the most impactful and successful entrepreneurs from across the continent. ABH organizes numerous online and offline networking opportunities where these entrepreneurs can connect and collaborate.

Mentorship from business icons

The finalists are given access to mentorship opportunities with global business icons, investors, and business professionals both throughout the competition and afterward.

Targeted and practical training programs

ABH community members are given access to a range of bespoke training programs including financial management, marketinInsights into your business g, understanding IP law, and more. Finalists are also given the opportunity to access additional programs and services such as investment readiness and management training via our network of partners and judges.

For More Information:

Visit the Official Webpage of the Africa Business Heroes Competition 2023

Application Deadline: June 26th, 2022

Africa’s Business Heroes (ABH) is the Jack Ma Foundation’s flagship philanthropic program in Africa to support entrepreneurs. The mission is to showcase and grow local talent who are creating positive impact in their communities and beyond, and inspire a movement of African entrepreneurship. Over a ten-year period, the program will recognize 100 African entrepreneurs and provide grant funding, training programs, and broader support for the broad African entrepreneurial ecosystem.

Africa’s Business Heroes directly supports talented and promising African entrepreneurs through its namesake Prize competition. Each year the Prize selects ten “business heroes” from across Africa that compete for their share of USD 1.5 million in grant funding. During the competition, participants have also exclusive access to training, mentoring and learning programmes, as well as to a community of like-minded African business leaders.

Eligibility Requirements

To apply for the ABH 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 and has at least 3 years of revenue.

Benefits:

• ABH finalists receive invaluable training and mentorship, and the opportunity to network with the ABH’s growing community of talented and inspiring minds. ABH Finalists will pitch their business to a global panel of legendary judges to win a share of the $1.5 million (USD) award. All applicants become a part of the ABH Community where they have access to insightful, educative and inspiring events and will receive feedback on completed and eligible applications.

• Learn about yourself & business
• Receive invaluable feedback
• Develop skills to tell your story
• Join an entrepreneurship ecosystem
• Access exclusive mentorship and training
• Gain global recognition & exposure
• Pitch to business legends and win your share of USD $1.5 million

• 1^st Prize Winner: $300,000
• 2^nd Prize Winner: $250,000
• 3^rd Prize Winner: $150,000
• Other Top 10 Finalists (7): $100,000
• Global Immersion Program (Hangzhou, San Francisco, South East Asia): $100,000

JUDGING PROCESS

To identify our heroes, ABH run a 4-step application process.

Round 1

• An online review of submitted applicants to determine our 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
• The Top 20 Finalists will need to pass due diligence checks by ABH partner: Price Waterhouse Coopers (PwC) in order to move to the Semi-Finale round.
  Semi-Final Pitch
• Theshort-listed finalists will pitch to a panel of distinguished and experienced panel of investors, business leaders and professionals who will determine the Top 10 Finalists.

For More Information:

Visit the Official Webpage of the Africa Business Heroes Competition 2022