Digital service sector in focus: Best Entrepreneurial Competition
Pulse Pick: Africa Netpreneur Prize Initiative
In this second article of the series, we are giving center stage to Africa Netpreneur Prize Initiative [ANPI], our pick from the list of entrepreneurial competitions in existence now.
ANPI was born as a direct result of Alibaba founder, Jack Ma’s first-ever visit to Africa in 2017. While on this trip, the world-renowned businessman engaged young African entrepreneurs whose dynamism and talent inspired him. During his talks with them, and by listening to their stories, he was reminded of his own challenges and obstacles when he was starting Alibaba 20 years ago.
The Africa Netpreneur Prize Initiative (ANPI) was soon launched by the Jack Ma Foundation in 2018, as further evidence of Jack Ma’s commitment to supporting entrepreneurship in Africa.
About Africa Netpreneur Prize Initiative
The ANPI is the Jack Ma Foundation’s flagship philanthropic program in Africa, and focuses on providing African entrepreneurs with an inclusive platform to be able to showcase and develop their talent and business ideas. ANPI organises the “Africa’s Business Heroes” (ABH) prize competition and show, which is open to entrepreneurs from all industry sectors, all African countries, and all ages and genders, and with applications available in both French and English.
Every year, ABH will select ten finalists to compete in a televised finale show – where they will compete for a share of US$1.5 million in grant money. Finalists are selected based on a variety of criteria – including their leadership and vision, resilience, and ability to translate their innovations and ideas into strong business models. The prize has received an incredible outpouring of interest – receiving more than 20,000 applications from all 54 countries in Africa to date. The inaugural competition in 2019 received 10,000 applications from 50 African countries in total.
The Africa’s Business Heroes prize competition is extra-significant in 2020
Obviously, the COVID-19 pandemic has brought about immense public health and economic challenges for Africa and the world. But the Africa’s Business Heroes competition believes entrepreneurs are uniquely suited to serving on the frontlines of economic recovery and there is a firm belief that these entrepreneurs can turn these challenges into opportunities.
Finalists from the inaugural year of the Africa’s Business Heroes competition have clearly shown that this is possible as they have stepped up in the fight against COVID-19, showing that entrepreneurs can create solutions that can combat public health challenges and at the same time find ways to both survive the crisis and position themselves for long-term growth.
For instance:
● Christelle Kwizera and her team at Water Access Rwanda (WAR) have accelerated efforts to connect households in Rwanda to a water supply. They are driving towards this goal so that people can protect themselves against COVID-19 with frequent and thorough hand-washing and can access water in their homes to comply with social distancing procedures.
● At LifeBank, Temie Giwa-Tubosun has founded an online registry for vital equipment like ventilators, respirators and ICU Beds within Nigeria. The company also set up drive-thru COVID-19 testing facilities across Nigeria, and also distributed floor stickers to hospitals, pharmacies and grocery stores to support their social distancing efforts.
● Chibuzo Opara and his team at DrugStoc are leveraging their robust supply chain system to provide health workers in remote facilities with critical anti-COVID-19 pharmaceutical products.
These inspiring business heroes show that when looking back on this time of crisis, it is possible that a new generation of mission-driven and impact-oriented entrepreneurs will have emerged to pioneer new business ideas and solutions. Now, more than ever, is the time for aspiring entrepreneurs to pursue their dreams and continue pushing their businesses to the next level.
Given the complexities and nuances of different markets in Africa, only a few African enterprises are able to expand business operations to multiple markets across the continent.
Remarkably, the top 10 finalists from the 2019 Africa’s Business Heroes competition have been able to leverage the program’s networks to begin building partnerships and cooperation with other entrepreneurs from across Africa and from around the world. The investor and donor community has also started to take note - with several finalists having received multiple investments and grants from other investors, donors and partners.
With greater cooperation and learnings shared between entrepreneurs from different countries and industries as well as increased access to investment and capital, SMEs can have the opportunity to thrive and continue to drive positive impact and rapid growth in innovation and tech for the coming digital revolution.
Looking ahead, the Jack Ma Foundation and its ANPI program envision an entire ecosystem of players, entrepreneurs, investors, educators, policymakers, civil society working closely together to support entrepreneurship.
Applications for the 2020 Africa’s Business Heroes competition close on June 22 nd 2020. For more details, visit: africabusinessheroes.org