The Jack Ma Foundation is trying to help African entrepreneurs to develop and grow their businesses with the Africa Netpreneur Prize Initiative. This competition is open to all African countries from all sectors and age groups.

The aim of the competition is to support and inspire the next generation of entrepreneurs who will build a more sustainable and inclusive economy for the future, according to the Jack Ma Foundation.

IT News Africa reports that the Initiative will recognise 100 African entrepreneurs over the next 10 years and award them $10 million. Every year 10 finalists will be selected to compete in the final pitch competition that will be broadcast across the continent.

“This is a unique prize that is looking to inspire and reward heroes in both technology driven and traditional businesses. We hope that all of the applicants will be able to use this opportunity to break through the barriers that have been holding them back,” said Nalib founder and CEO, Sam Gichuru.

IT News adds that all 10 finalists will gain access to the Netpreneur community of African business leaders to leverage their shared expertise, best practice knowledge and resources.

“I especially encourage powerful women entrepreneurs to apply. It is up to you to be the heroes that will usher the continent into the next stage of development, growth and prosperity. Good luck to all applicants and I look forward to your contributions in taking Africa to higher heights,” added chair of the Graca Machel Trust Board and Ban Ki-moon, Graca Machel.

Applications opened yesterday (27th March) and close on the 30th June.

[Source – IT News Africa] [Image – Africa Netprenuer Prize]