The Africa Business Heroes Competition 2022 for young businesses (1.5 Million USD Prize)

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

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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.