Jack Ma Foundation encourages Ethiopian entrepreneurs to apply for Africa’s Business Heroes (ABH) grant before the deadline (May 12, 2023).
During the information session organized by Jack Ma Foundation today in Addis Ababa, ABH Hero, Amadou Daffe, who was a top 10 finalist from a total of 21,000 applicants in 2022, encourages Ethiopian entrepreneurs to apply for ABH, which enables the winners to secure up to $300,000.
This year marks the 5th edition of this grant opportunity and each year ABH awards 10 outstanding entrepreneurs from across Africa with a share of a US$1.5 million grant. ABH is a philanthropic initiative sponsored by the Jack Ma Foundation and Alibaba Philanthropy in Africa to support entrepreneurs.
ABH aims at enabling entrepreneurs that are not only building successful businesses, but who are also running mission driven organizations that generate growth for their local communities across Africa.
Each year the winner receives $300,000, the 1st runner up gets $250,000, 2nd runner Up gets $150,000 and the 7 other Top 10 finalists each receives $100,000 and the remaining $100,000 is split among all finalists.
ABH’s mission is to showcase and grow local talent who are creating positive impact in their communities and beyond and inspire a movement of African entrepreneurship. Over a ten-year period, the program will recognize 100 African entrepreneurs and provide grant funding, training programs, and broader support for the broad African entrepreneurial ecosystem.
Jack Ma, Founder of Alibaba Group, and the Jack Ma Foundation, created the grant after he made his first trip to Africa in 2017 and was inspired by the energy and entrepreneurial potential of the young people he met.
Every year since the first edition in 2019 entrepreneurs from across Africa apply and go through several rounds of rigorous evaluation conducted by ABH judges. The finalists are selected after demonstrating that they are visionary entrepreneurs who embody innovation, resilience, growth potential and impact on Africa.