Jack Ma Foundation Africa’s Business Heroes (ABH) Prize Competition 2022 is calling for applications. The 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 who 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.
Who Can Apply for Jack Ma Foundation Africa’s Business Heroes (ABH) Prize Competition
- Open to Candidates from all 54 African Countries.
- Entrepreneurs of all ages and genders are encouraged to apply.
- Entrepreneurs from all industries are eligible to apply.
- They are looking for entrepreneurs from all levels of society.
Benefits of Jack Ma Foundation Africa’s Business Heroes (ABH) Prize Competition
- 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
Jack Ma Foundation Africa’s Business Heroes (ABH) Prize Competition Judging Criteria
- Mission, Vision, Values: ABH judges look out for applicant who is driven by passion and clear, impact-oriented goals.
- Problem/Need: The judges evaluate whether the problem or need being addressed by the applicant is significant. They’re looking for businesses that are solving pain points for customers or addressing unfulfilled needs.
- Solution: ABH judges assess how the business is addressing the problem/need they’ve identified and whether the solution is unique and has a competitive advantage.
- Market Traction: Judges look out for whether there is demand for the business’s product/service. They place emphasis on solutions that have customers and where there is demonstrated demand for the solution.
- Financial Sustainability: ABH judges evaluate the financial status and prospects of businesses. They place emphasis on revenue models that show scalability and that have generated income.
- Team: Judges assess how well candidates engage & motivate teams and whether the team members buy into the vision of the business. They believe in the power of teamwork and they are looking for entrepreneurs who have strong teams.
- References: ABH judges evaluate what others have to say about you and whether you are a good fit for the Prize based on reference’s testimonial of you and your business.
Overall, they are looking for passionate, mission-driven, impact-oriented, resilient and bold entrepreneurs who are leveraging business to create sustainable change in their communities.
How to Apply for Jack Ma Foundation Africa’s Business Heroes (ABH) Prize Competition
You will need to upload two to three key documents to successfully complete your application. Have scanned /digital versions with you to upload.
- One form of a personal Government-issued ID that belong to you (the applicant). Suitable ID includes: international passport, citizen/national card and a voters card).
- “Business license/registration certificate”: this is a legal document indicating when you registered the business with the government.
- Proof you’ve been operating for 3 years or more. This can include your registration document or bank statements in your company’s name dating 3 years.
The application will take 2-3 hours to complete. But don’t worry, you can save and continue at any time before the deadline: June 6, 2022 23:59 GMT. You can download the application form and fill in the answers offline. Remember to copy, paste and submit your answers before the deadline.
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