The Africa Netpreneur Prize Initiative named its judging panel for the semi-final round of the $10 million contest launched by Alibaba Group Executive Chairman Jack Ma to inspire an entire continent of entrepreneurs.
The seven entrepreneurs, investors and venture capitalists that make up the panel have been tasked with choosing 10 finalists from a pool of 20 semi-finalists – down from nearly 10,000 applications from 50 African countries. The finalists will compete in November for a share of US$1 million in total grand prize money.
“We are thrilled with the response and the quality of the applications we have received. We look forward to the next phase where this panel of illustrious judges will help decide on our finalists,” said Jason Pau, senior advisor for international programs at the Jack Ma Foundation.
WATCH: 20 African Entrepreneurs Pitch Their Way to ANPI Final
Jack Ma first announced the prize during a trip to Africa last year. His foundation will work with partners in Africa to host an annual pitch competition for 10 years, with 10 finalists receiving a portion of $1 million each year to fund their businesses as well as access to the Netpreneur community of African business leaders for mentorship and other resources. The goal is to identify 100 African “business heroes” who are building a more-sustainable and inclusive future to help lead Africa to the next stage of development. The competition is open to entrepreneurs who are nationals from any of the 54 African countries, all industry sectors are eligible, and small enterprises, female entrepreneurs and those doing work to improve local communities are especially encouraged to apply.
The seven semi-finalist judges, with their position in the above photo, are:
“Our goal when selecting the roster of judges for the ANPI was to find true representatives of the diverse entrepreneurial and business landscape in Africa,” Pau said. “The judges we have selected are true leaders in their industries, and bring vastly different backgrounds, accomplishments, and skillsets to the table. Their feedback will be invaluable and will set the tone for the competition.”
The Jack Ma Foundation is hosting the prize with local partners throughout Africa, including Kenyan entrepreneur accelerator Nailab, NINE from Nigeria, Egypt’s RiseUp and 22 OnSloane in South Africa. Nailab founder and CEO Sam Gichuru, who met Ma in Kenya during his first trip to Africa in 2017, said the partnerships helped to support the prize at the grassroots level and led to the high volume of applications that were submitted.
“To mobilize the program, we identified mission-aligned partners across Africa to ensure that we were truly inclusive and tapped into channel partners, accelerators and incubators to discover a new generation of entrepreneurs,” Gichuru said.
The 10 finalists will be announced in October. They will then compete for a portion of the $1 million prize in November during a televised pitch finale called “Africa’s Business Heroes,” judged by Jack Ma, Zimbabwean billionaire entrepreneur Strive Masiyiwa and a yet-to-be-named judge. The winner will receive a grant of $250,000, with the second and third-place finalists receiving $150,000 and $100,000, respectively. The remaining money will be allocated among the other seven finalists.
“I am looking forward to seeing the finalists for the first year,” Gichuru said. “To the entrepreneurs who missed the application deadline, be ready to apply in the coming year.”
The Netpreneur Prize is the latest initiative by Ma to foster and develop entrepreneurial talent in Africa. He launched the eFounders Fellowship after his first visit to the continent in 2017, with the goal of empowering 1,000 entrepreneurs from developing countries, 200 of whom would hail from Africa. To date, 89 African entrepreneurs have participated in the two-week fellowship at Alibaba’s headquarters in Hangzhou, during which participants make a two-year commitment to improve society through their businesses.