Application Deadline: June 30 2015
- Are you an African citizen with a business idea that will create jobs and improve lives in Africa?
- Will it improve education or the environment, or solve a problem that is uncharted?
- The African Entrepreneurship Award is looking to fund you with a million dollars.
The journey begins Now with submitting your business idea and your story by June 30,
The African Entrepreneurship Award, powered by BMCE Bank of Africa, offers a mentoring journey for business ideas that can impact and improve lives in Africa. The goal of the African Entrepreneurship Award is to inspire African entrepreneurs – living in Africa and abroad – to develop businesses across the African continent, creating jobs that improve lives.
The Award partners with entrepreneurs, business leaders and leading academics from Africa, Asia, Americas, UK and Europe. These partners are mentors who provide coaching to African entrepreneurs at every step of this journey. The journey includes USD$1 million across three categories: Education, the Environment and Uncharted areas – never been done before in Africa.
The African Entrepreneurship Award will help you start or grow your business to create jobs and impact Africa. Every entrepreneur needs more than money. You need mentors to come alongside you, advise you, ask hard questions, encourage you, comfort you, and help you persevere.
You, the entrepreneur, must meet the following criteria as you submit your business proposal:
- You must be a citizen of an African country
- You must be a minimum of 18 years old as of October 1, 2015
- Your business must be applicable in an African country
- Your business must be relevant to one of these categories:
- Education – positively impact education in Africa
- Environment – positively impact the environment in Africa
- Uncharted – a high-impact business venturing into unexplored territory or untested markets
- You can submit a proposal as a resident of any country worldwide – keeping in mind that you must be a citizen of an African country
- For example, a resident of the United Arab Emirates with Egyptian citizenship is eligible for this Award
- You can submit a proposal if you are of any age over 18 as of October 1, 2015
- Your business can operate in any African country even if you are not a citizen of that country
- For example, you can submit a proposal for a different country in Africa than your personal, African citizenship (e.g. a Ghanaian citizen can submit a proposal for a business in Liberia)
- You can submit a proposal for a business already in operation
- Your business can operate across borders in multiple African countries
- Your business should demonstrate the potential to scale beyond one region in Africa to pan-African impact
- You can operate in multiple countries, but you will be asked to designate a primary community in Africa that will benefit or be impacted by your business.
There will be practical mentoring in three Rounds:
- Round 1 – Regional mentors advise you in May and June on regional issues and decide which ideas most needed in your region
- Round 2 – Pan-African mentors advise you in July and August on how to get your idea beyond your borders to successfully impact pan-Africa.
- Round 3 – Global Partners advise you in September on how to become sustainable and scale your idea.
- Jury – The Final Jury of entrepreneurs, business leaders and academics from Africa, China, and the USA will meet you in person in or by video October to hear your business idea and decide the winners.
- The First round finalists will be announced in early July.
- Final winners will be announced in October 2015.
- Successful applicants will be notified after July 7, and begin to receive local and international mentoring to shape their ideas.
- Selected finalist will then be trained to pitch to a Presidential Jury for a financial award of $1 Million, by October 2015.
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