Applications for Jack Ma’s $10-million Africa Netpreneur Prize officially opened to African entrepreneurs on March 27, 2019, and will close on June 30. The prize is an initiative of the Jack Ma’s Foundation and will run through the next ten years. The platform will host a pitch competition for ten finalists across the continent, with an opportunity to compete for a $1-million total prize money. The contest aims to support and inspire entrepreneurs who are building a sustainable and inclusive economy for the continent.
Ten finalists will be selected each year to compete at the grand finale, which will be broadcasted across the continent. The ten finalists will gain access to the Netpreneur community of African business leaders and leverage on the community’s shared expertise, practices, and resources. Jack Ma created the prize after his first trip to Africa in 2017.
The Netpreneur Prize is open to entrepreneurs from all industries and especially for small businesses who aim to make a difference in their localities. Female entrepreneurs are welcome to apply. The likes of Graça Machel, chair of the Graça Machel Trust Board and Ban Ki-moon, former UN secretary-general and co-chair of the Ban Ki-moon Centre for Global Citizens will serve on the initiative’s advisory board.
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The Foundation has teamed up with regional partners including Nairobi-based accelerator, Nailab, Abuja-based Network of Incubators and Innovators in Nigeria (Nine), Cairo-based entrepreneurship platform, RiseUp, and Johannesburg-based startup, campus 22 On Sloane, to mobilize entrepreneurs across the continent through grassroots outreach.
Graça Machel, chair of the Graça Machel Trust Board said, “I especially encourage powerful women entrepreneurs to apply. It is up to you to be the hero that will usher the continent into the next stage of development, growth and prosperity. Good luck to all applicants and I look forward to your contributions in taking Africa to higher heights.”
Nailab Founder and CEO Sam Gichuru said, “This is a unique prize that is looking to inspire and reward heroes in both technology-driven and traditional businesses. We hope that all of the applicants will be able to use this opportunity to break through the barriers that have been holding them back.”
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