Africa’s Business Heroes (ABH) Program Overview
Africa’s Business Heroes (ABH) is a philanthropic initiative established by the Jack Ma Foundation to empower African entrepreneurs. This programm is dedicated to identifying and nurturing local business talent that drives positive change within their communities and beyond. Its goal is to foster a strong culture of entrepreneurship across the continent. Over a decade, ABH will recognize 100 exceptional entrepreneurs, providing them with financial support, training, and resources to help them thrive in the African business landscape.
Annual Competition and Rewards
Each year, ten exceptional entrepreneurs are chosen to participate in the ABH Grand Finale pitch competition. They present their businesses for an opportunity to secure a portion of $1.5 million in grant funding. Beyond financial assistance, these finalists receive valuable exposure through media features, influencer partnerships, and professional video content highlighting their entrepreneurial journeys and the impact of their businesses.
In addition to funding and publicity, finalists gain lifetime membership in an exclusive network of business leaders, investors, and mentors. They also benefit from mentorship, training, and networking opportunities that enable them to expand their enterprises and maximize their influence.
Eligibility Criteria
To qualify for the ABH program, applicants must meet the following requirements:
- Founder or Co-founder – The applicant must be the founder or co-founder of the business.
- African Identity – Candidates must be either African citizens or direct descendants (children or grandchildren) of an African citizen.
- Business Operations in Africa – The company must be officially registered, headquartered, and actively operating within an African nation.
- Market Validation – The business must have been generating revenue for at least three years and demonstrate proven market traction.
Benefits of the ABH Program
Financial Grants of Up to $300,000
The ten finalists share a total grant pool of $1.5 million, distributed as follows:
- Grand Prize Winner – $300,000
- 1st Runner-Up – $250,000
- 2nd Runner-Up – $150,000
- Remaining 7 Finalists – $100,000 each
- Global Immersion Training Fund – An additional $100,000 is allocated for this initiative
Global Visibility and Media Exposure
ABH provides extensive publicity for outstanding African entrepreneurs through social media campaigns, press releases, and media coverage at every stage of the competition. The Top 10 finalists benefit from increased brand recognition, helping them reach broader audiences.
Access to an Exclusive Entrepreneurial Network
Finalists join an elite community of Africa’s most influential entrepreneurs, gaining opportunities for networking, collaboration, and engagement with industry leaders across the continent.
Mentorship from Global Business Leaders
Participants receive expert guidance from seasoned business professionals, investors, and industry leaders. This mentorship continues beyond the competition, offering valuable insights to help entrepreneurs refine their strategies and scale their businesses.
Specialized Training Programs
ABH provides finalists with targeted training in key areas such as financial management, marketing, intellectual property law, investment readiness, and business growth strategies. Additionally, participants gain access to specialized partner programs and services designed to enhance their business expertise.
Constructive Feedback and Business Insights
The ABH application process itself is a learning experience, helping entrepreneurs refine their business storytelling and pitching skills. Participants receive valuable feedback from experienced professionals, improving their approach at every stage of the competition.
Application Process and Timeline
Round 1: Application Review
Applicants are evaluated by three independent judges based on predefined criteria. The Top 50 finalists are selected based on their average scores.
Round 2: Video Call Interviews
Each of the Top 50 finalists participates in a 90-minute virtual interview with three experienced business leaders. The Top 20 finalists are chosen based on their overall performance.
Due Diligence Check
A trusted third-party organization conducts due diligence on the Top 20 finalists before they proceed to the next stage.
In-Person Semi-Final Round
Shortlisted finalists present their business pitches to a panel of esteemed investors, industry experts, and business leaders, who then select the Top 10 finalists.
Grand Finale Competition
The final stage involves an in-person pitch event where the Top 10 finalists present their businesses before a distinguished panel of judges and a live audience. Winners receive a share of the $1.5 million grant funding. This event is broadcasted online and featured on ABH’s social media platforms.
