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Chinese Business Magnate; Jack Ma To Empower 10 African Entrepreneurs With $1m Funding

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The Africa Netprenuer Prize Initiative (ANPI), an initiative by the popular Chinese business magnate and Co-Founder of Alibaba Group; Jack Ma and the Jack Ma Foundation, has opened its 2019 application process.

The ANPI is a yearly fundraising programme for African entrepreneurs, the program empowers 10 entrepreneurs from across Africa. Using the ANPI competition, Jack Ma seeks to explore Africa’s entrepreneurial potential by identifying and supporting entrepreneurs from across Africa, while encouraging both traditional and tech-driven businesses to thrive.

The $1m prize which will be given to 10 start-ups with an identified, innovative and outstanding business idea, is strategized to be a medium that will inspire other entrepreneurs for the development of the continent.

African entrepreneurs of any age are encouraged to apply for the funding, as applications are open from March 27 to June 30 to entrepreneurs in 54 African countries.

The ANPI is known to attract thousands of applicants from Across Africa, however, entries will be screened at various levels and shortlisted applicants will be announced.

After the screening process, the top 50 applicants which will be shortlisted at this stage will be announced in August, thereafter, the next screening exercise will lead to the announcement and unveiling of the 10 final start-ups in October, these 10 selected entrepreneurs will compete at the grand finale.

The last session of the ANPI will host a grand finale pitch competition in November where the 10 finalists from across the continent will compete for a share of US$1 million in total grant prize money.

These successful 10 applicants will also have the opportunity to pitch their stories to world-renowned business magnate Jack Ma, also included in the ANPI is the opportunity for the 10 Finalists to network with other players from different industries and regions around the world and receive a mentorship from the Netpreneur Community.

Jack Ma created the ANPI after his first trip to Africa in 2017 and plans for the ANPI to host an annual pitch competition across Africa for the next 10 years.

The online application for ANPI was launched at the same time across Nigeria, Egypt, Kenya and South Africa.

Click here to apply

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