Africa Business Heroes (ABH) Grant 2024 for African Entrepreneurs
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Introduction to the Africa Business Heroes (ABH) Grant 2024 for African Entrepreneurs
Applications are now open for the Africa Business Heroes Grant 2024. ABH aims to identify, support, and inspire the next generation of African entrepreneurs who are making a difference in their local communities, working to solve the most pressing problems, and building a more sustainable and inclusive economy for the future. This grant offers the chance to win tools to assist your entrepreneurial journey.
The initiative intends to be as inclusive as possible. Applications are open in English and French to entrepreneurs of all ages, sectors, and African countries who run businesses that are formally registered and headquartered in an African country and have a three-year track record.
Every year, ten finalists will be chosen to compete in the ABH finale pitch and appear in a TV show broadcast online and across the continent. The finalists will compete for a share of US $1.5 million in grant money.
Eligibility Criteria for Africa Business Heroes Grant
- The applicant should be the founder or a co-founder of the company.
- The applicant has traceable/provable African nationality. In other words, you have or have had African citizenship, and/or a parent or grandparent has African citizenship.
- The company is Africa-based. The business is registered and headquartered in an African country and primarily operates in Africa.
- The company should be in its post-idea stage. This means that the business is 3 years old or older and has at least 3 years of revenue history
Selection Criteria
- Vision, Mission & Values
- The importance/magnitude of the problem/need you’re addressing
- The feasibility and value-add of your solution
- Market traction of your solution
- Competitiveness of your product/solution
- The feasibility of your revenue model and financial projections
- Leadership & Team Potential
- Social Impact: the tangibility and sustainability of the impact you’re creating
Financial Benefits of the ABH Grant
| 1st Prize Winner | $300,000 |
| 2nd Prize Winner | $250,000 |
| 3rd Prize Winner | $150,000 |
| Other Top 10 Finalists (7) | $100,000 |
| Global Immersion Program (Hangzhou, San Francisco, Southeast Asia) | $100,000 |
ABH will also cover all costs related to the semi-final.
Other Benefits of the ABH Grant
- Exposure: Through the “Africa’s Business Heroes (ABH)” show, we give our heroes the chance to tell Africa and the world their story. The show is distributed via major television networks, which provides our finalists with significant publicity and exposure.
- Training: We offer our Heroes training at Alibaba’s headquarters via the prestigious eFounders fellowship training program. In addition, we are working with partners to develop bespoke training and accelerator services for our Top 10.
- Mentorship: We offer our heroes the opportunity to be mentored by renowned business leaders, including our finale and semi-finale judges.
- Networking opportunities: ABH attracts inspiring entrepreneurs from 54 African countries. Our finalists have the opportunity to connect with, learn from, and partner with other like-minded entrepreneurs and our community of judges.
How to Apply for the Africa Business Heroes Grant
All applications for the grant are to be submitted online via the link provided below. Please keep in mind that the deadline for submitting applications is May 19, 2024.
If you are interested in applying for the program, kindly ensure that you have gone through all the application requirements listed on the official announcement page. You can click on the link below to access the announcement page and get more information about the program.
It is crucial to note that failure to comply with the application requirements may lead to disqualification from the program. Therefore, we advise all interested applicants to read the instructions carefully before submitting their applications.
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