African entrepreneurs: How to claim your stake in a R21.8 million grant

Entrepreneurs from all 54 African countries, across every sector, age group, and gender are encouraged to apply. Picture: File

Entrepreneurs from all 54 African countries, across every sector, age group, and gender are encouraged to apply. Picture: File

Published Mar 30, 2022

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Durban - Do you have what it takes to be part of the Africa’s Business Heroes (ABH) competition and stand a chance to win a share of $1.5 million (R21.8m)?

A brainchild of Chinese business magnate Jack Ma, the programme is a philanthropic effort to spotlight and celebrate Africa’s entrepreneurial talent.

If you think your business is top notch, applications have now opened for the competition’s fourth annual edition.

Entrepreneurs from all 54 African countries, across every sector, age group, and gender are encouraged to apply.

ABH said the official slogan of the competition, “It’s African Time”, is a call to action to all talented African entrepreneurs who are challenging stereotypes associated with "African time" - creating local impact and building a better, more inclusive future through their businesses.

During the competition, participants have exclusive access to training, mentoring, and learning programmes, as well as to a community of like-minded African business leaders.

At the final leg of the competition, 10 lucky finalists will be chosen and take to the stage to present their businesses to a panel of industry legends to win a share of a US$1.5m grant.

Founder of PraxiLabs, a 3D virtual lab, Khadija Mohamed Elbedweihy, was named the winner of the 2021 edition.

She said she hopes that her victory inspires many people across Africa to feel that they can make a difference.

“I learned so much throughout the competition and will take those learnings to continue growing PraxiLabs. We will remain focused and determined to change how Africa learns and teaches science, one virtual lab at a time,” said Elbedweihy.

Applications will be open online until June 6, 2022, whilst the semi-finalists will be announced in October and the top 10 finalists will be unveiled in November.

Applications are made up of 6 sections:

1. Eligibility Check: where you can confirm that you meet all our criteria.

2. Reference: an opportunity for a mentor, colleague or partner to tell us more about you and why you’re a good fit for the ABH prize.

3. Founder Profile: questions about personal information, your motivations and achievements

4. Business Profile: questions about your business

5. Business Deep Dive: questions about the problem your business is trying to solve, the solution, its competitiveness, market traction, your business model and future plans.

6. Video Introductions: your opportunity to introduce yourself, your team and a customer.

You can apply here:

www.africabusinessheroes.org

IOL WEALTH