The Call for Jack Ma ABH Competition 2023 for African Entrepreneurs has been announced! The competition is open to Candidates from all 54 African Countries, including Entrepreneurs of all ages, industries, genders and from all levels of society.
The Jack Ma ABH Competition is an Initiative of the Jack Ma Foundation to support African entrepreneurs. This competition is in line with the Foundation’s mission to showcase and grow local talent who are creating a positive impact in their communities and beyond.
The program is expected to last for ten years with the aim of reaching up to 100 African entrepreneurs with grants funding, training programs and large support for the broad African entrepreneurial ecosystem.
About the Jack Ma ABH Competition
Africa’s Business Heroes prize (ABH), is designed to provide support to talented and promising African entrepreneurs. The ABH prize is offered every year, and up to ten “business heroes” are usually selected from across Africa to compete for a share of the USD 1.5 million in grant funding.
In the course of the competition, participants are given exclusive access to training sessions, mentorship opportunities and learning programmes, as well as to a community of like-minded African business leaders.
Moreover, Applications are open in English and French to entrepreneurs from all African countries and sectors, who operate businesses formally registered and headquartered in an African country, and that have a 3-year track record.
Summary of the Jack Ma ABH Competition
- Category: Entrepreneurs
- Host Organization: Jack Ma Foundation
- Gender: Men and Women Entrepreneurs
- Eligible Country: 54 African Countries
- Value: USD 1.5 million
- Number of Candidates: Ten
- Application Deadline: June 6, 2023
About the Jack Ma Foundation
The Jack Ma Foundation was founded on the 15th of December 2014 by Alibaba founder Mr Jack Ma, with a major focus on the following four areas: entrepreneurship, education, women’s leadership, medical support and environmental protection.
The Jack Ma Foundation is committed to Creating a trustworthy, participatory and sustainable non-profit organization.
It also seeks to cultivate future-oriented rural educators and entrepreneurs; helping rural children, young entrepreneurs and women’s development and growth, and making the world more inclusive, green, sustainable and healthy.
Financial Benefits of Jack Ma ABH Competition
The ABH prize for winners is listed below:
- 1st Prize: $300,000
- 2nd Prize: $250,000
- 3rd Prize: $150,000
- Prize for Top 10 Finalists (7): $100,000
- Global Immersion Program (Hangzhou, San Francisco, South East Asia): $100,000
- The ANPI will cover all costs related to the Semi-Final.
- Gain Exposures: Africa’s Business Heroes (ABH) provides an opportunity for “Heroes” to share their stories with Africa and the world. The show will be viewed on major television networks, which provides finalists with significant publicity and exposure.
- Training: The ABH Heroes will be trained at Alibaba’s headquarters via the prestigious eFounders fellowship training program. Also, the top 10 winners benefit from the bespoke training and accelerator services
- Mentorship: Opportunity to be mentored by renowned business leaders including Finale and Semi-Finale judges.
- Networking opportunities: The ABH Competition attracts inspiring entrepreneurs from across all 54 African countries. Successful finalists have the opportunity to connect with, learn and partner with other like-minded entrepreneurs and a community of judges.
How to Apply for Jack Ma ABH Competition 2023 For African Entrepreneurs
- All Qualified Candidates should go to the application page of the Jack Ma Foundation at: https://www.africabusinessheroes.org/en/login to apply
- You can visit the Africa Business Heros website at: https://www.africabusinessheroes.org/en/ for more details
Eligibility Criteria for Jack Ma ABH Competition
- To be eligible, applicants should be the Founder or a Co-Founder of the company seeking to participate
- Applicant must have provable African nationality (Have/Had African citizenship)
- The company must be Africa-Based and business must be registered and headquartered in an African country and primarily operates in Africa.
- Participating companies should be in the post-Idea stage. The Business must be at least 3 years old and has at least 3 years of revenue history
Selection criteria for the Jack Ma ABH Competition
- The Company Vision, Mission & Values
- The magnitude of the problem/need the company addresses
- The company’s feasibility and value-add to its solution
- Market traction of their solution
- Competitiveness of product/solution
- Feasibility of the revenue model and financial projections
- Leadership & Team Potential
- Social Impact
June 6, 2023
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