More than 9,000 African entrepreneurs applied for Africa Netpreneur Prize Initiative (ANPI), founded by Jack Ma Foundation, Sam Gichuru, Chief Executive Officer of Nailab, the continental and Eastern Africa partner of
the ANPI said on Friday in Nairobi
Gichuru said review and judging process had begun to select the most deserving entrepreneurs to win the grants.
He added that “we shall shortlist applicants to get the 10 finalists who will be selected to participate in a finale competition
to pitch before Jack Ma in November.”
The finalists will have the chance to win the 103 million shillings (one million dollars) prize award at the grand finale event in
November 2019, the CEO said.
Jack Ma, founder of Alibaba Group, created the prize after he made his first trip to Africa in July 2017.
The prize competition for African entrepreneurs will host an annual pitch competition across Africa for the next 10 years.
The ANPI offered 10 million dollars to African entrepreneurs over 10 years.
Gichuru observed that ANPI collected applications from March 27 till June 30, adding that the business competition would also boost entrepreneurship in Africa because the 10 finalists would receive advisory support and mentorship on how to expand their businesses.
According to organisers of the competition, Jack Ma is committed to supporting African enterprises because of the critical role they play in job creation and poverty alleviation.
Gichuru said that the competition was seeking for fund both traditional and technology driven business.
“We are keen to supporting business heroes who are doing amazing work to transform their communities,” he added.