The Jack Ma Foundation Africa’s Business Heroes (ABH) Prize Competition 2022 is now open for applications. Africa’s Business Heroes competition is a philanthropic program organized by the Jack Ma Foundation, dedicated to assisting outstanding entrepreneurs within their localities in Africa. ABH is a yearly competition.
The project wants to be as inclusive as it can be. Entrepreneurs from all African nations, operating companies with headquarters in Africa and a 3-year track record, are eligible to apply. Applications are accepted in both English and French.
Each year, ten finalists are chosen to participate in the ABH grand finale pitch competition and a TV programme televised online and throughout the continent. The candidate contends for a $1.5 million grant.
Who Can Apply for ABH Prize Competition
- Candidates are welcome from all 54 African nations.
- All ages and genders of entrepreneurs are welcome to apply.
- Entrepreneurs from all sectors of the economy are welcome to apply.
- Entrepreneurs from all spheres of society are wanted.
Benefits of the ABH Prize Competition
- Understand yourself and your business.
- Receive priceless comments
- Develop storytelling abilities.
- Participate in a business ecosystem.
- Gain access to special training and mentoring
- Obtain exposure and global recognition
- Make a pitch to industry titans to earn a share of $1.5 million.
Jack Ma Foundation Africa’s Business Heroes (ABH) Prize Competition Judging Criteria
Mission, Vision, Values
ABH judges seek applicants driven by passion and clear, impact-oriented goals.
Problem/Need
The judges evaluate whether the problem or needs addressing by the applicant is significant. They’re looking for businesses that solve customer pain points or address unfulfilled needs.
Solution
ABH judges assess how the business addresses 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 emphasize 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 emphasize 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 are looking for entrepreneurs with strong teams.
References
ABH judges evaluate what others 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 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 complete your application successfully and carry scanned /digital versions to upload.
- One type of government-issued personal ID that you (the applicant) own. An international passport, a citizen or national card, and a voter card are acceptable forms of identification.
- A legal document titled “Business license/registration certificate” shows the date you registered your company with the government.
- Proof that you have been in business for at least three years. This can be your registration papers or three-year-old bank statements in your company’s name.
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, 2023, 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.
Conclusion
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