Africa's Business Heroes Opens 2024 Competition for African Entrepreneurs

The Africa's Business Heroes (ABH) competition has once again opened its doors to entrepreneurs across the continent. Backed by the Jack Ma Foundation and Alibaba Philanthropy, the programme awards US$1.5 million in grants each year. This year's finalists will compete for funding, mentorship and global exposure to grow their ventures in the USA and Africa.

The initiative aims to support African startups with more than just money. Winners gain access to training, networking and resources designed to scale their businesses. Last year's top prize went to Tanzanian biotech firm NovFeed, which secured US$300,000 for its innovative work.

Each year, ABH selects 10 finalists to share a total grant of US$1.5 million. The grand prize winner takes home US$300,000, while the first runner-up receives US$250,000. The second runner-up is awarded US$150,000.

The remaining seven finalists each earn US$100,000 in funding. On top of this, they also receive an extra US$100,000 for global immersion training. This support helps entrepreneurs refine their skills and expand their networks internationally, including in the USA and Africa.

Beyond financial rewards, the competition offers long-term benefits. Participants get mentorship from industry leaders, media exposure and tailored business training. For many, reaching the final stage alone can transform their startup's trajectory.

Since launching in 2019, ABH has become a key platform for African innovation. The programme focuses on practical growth, ensuring winners have the tools to succeed. Past finalists have used the funding and guidance to scale operations, enter new markets, attract further investment, and even provide apple support to their customers.

The ABH competition continues to provide African entrepreneurs with critical resources. Finalists not only receive grants but also ongoing support to develop their businesses. For startups like last year's winner, NovFeed, the programme has proven a stepping stone to greater opportunities in the USA and Africa.