If you haven’t heard of Africa’s Business Heroes competition, you should pay attention to this one. Africa’s Business Heroes competition is a philanthropic program organised by the Jack Ma Foundation, dedicated to assisting entrepreneurs. ABH is a yearly competition.
Imagine an entrepreneur like you, walking away with $1.5 million. And that is not all, you get free training and gain global publicity. ABH’s mission is to strengthen the African entrepreneur ecosystem. They will do this by identifying, telling the stories of, training, and awarding grants to 100 African business heroes over the next ten years.
Every year, ten finalists are chosen to compete in the ABH grand finale pitch competition and participate in a TV show that is broadcast online and across the continent. The finalists compete for a grant worth $1.5 million.
See also: Cascador 2022: For Mid-Stage Entrepreneurs In Africa
Who Sits On ABH’s Board?
- Jack Ma (Founder of Jack Ma Foundation)
- H.E. Graca Machel (Chair of the Graca Machel Trust Board)
- H.E Ban Ki-Moon (8th Secretary-General of the UN)
Why You Should Apply
With ABH, you don’t have to think ‘Come and compete and go’. It promises extra value for you the entrepreneur:
- Well-construed Criticism: Your business will get critiquing that is well-thought-out from professionals and seasoned entrepreneurs.
- Training Programs: You become a part of the ABH community and access financial and marketing training. And as a finalist, you get even more. For example, the network of partners and judges can help you with investment readiness and talent sourcing.
- Mentorship: As a Finalist, you will have the opportunity to be mentored by global business icons both during and after the competition.
- Grant Funds: The top 10 finalists will compete for a $1.5 million prize pool, with the first prize winner receiving $300,000 in grant funds.
- Global visibility: When you are a finalist in the ABH completion, you will be mentioned in press releases, on social media and even featured on ABH’s TV show.
Who Should Apply
All African business owners with three years in business can apply. Below are other mandatory criteria:
- You have to be either the founder or co-founder of the business
- Have an African citizenship
- Your business must be registered
- The company is based in Africa
- Be able to account for your company’s three years revenue
How To Apply
- Visit Africa’s Business Heroes website and create a free account
- Next, respond to questions about yourself
- Then, drop details of your references
- And submit a video of yourself and a customer
The Judging Process
There are four rounds to this process:
- An online review of all applicants will determine the Top 50. Two judges will review each application. And the average score of all applications will determine the Top 50 Finalists.
- The next round of interviews will be a video call. Two established business leaders will conduct a one-and-a-half-hour in-depth evaluation of the company and finalist. The average scores of all 50 Finalists will determine the Top 20 Finalists.
- The Top 20 finalists will pass through due diligence checks.
- The short-listed finalists will pitch to an experienced panel of investors, business leaders, and professionals, who will then select the Top 10 Finalists.
The Timetable
Do you think you have what it takes as an entrepreneur to win Africa’s Business Heroes 2022? Then go ahead and apply. To learn more about ABH, visit the website at https://africabusinessheroes.org/en/.
Would you like to know how to make a pitch deck? Then read The Perfect Business Pitch – Tips On Delivering A Perfect Business Pitch.
