Young African entrepreneurs:  Jack Ma introduce a new initiative to help them

10/08/2018

 

Alibaba’s Chairman Jack Ma launched the Netpreneur Prize to support exemplary African business leaders

 

To promote economic development in Africa and to encourage younger and more promising African entrepreneurs, Alibaba’s Chairman Jack Ma launched the Netpreneur Prize. The prize was presented at a conference dubbed Netpreneurs: The Rise of Africa’s Digital Lions.

Ma said: “As a fellow entrepreneur, I understand the importance of getting support during the early days. This prize demonstrates our support of the next generation of young entrepreneurs across Africa who are paving the way for a better future and imparting positive change in their communities”.

 

The prize will award 10 million U.S. dollars to 100 African entrepreneurs over the next 10 years

 

The award project has just begun. Starting from 2019, in fact, the Jack Ma Foundation will host annual pitch competition, with 10 finalists selected from across the continent to showcase their talent and business ideas.

Ma said: “I am inspired and encouraged by these entrepreneurs who, together, will help build a sustainable, inclusive economy for Africa and for the world.”

 

All 10 finalists will receive grant funding from the Jack Ma Foundation as well as access to the Netpreneur community of African business leaders

 

Ma, during his trip to Africa last year, he was impressed by the enormous growth possibilities of Africa and young Africans. “This land is full of chance, opportunities and dreams,” he said. “This is where the future is, high praise for our beautiful continent.”

Former UN Secretary General Ban Ki-moon said: “With the rapid development of the global digital economy and the availability of technology, the next century belongs to Africa,” said Ban. “Through this prize, we aim to support African entrepreneurs to build a more inclusive and prosperous Africa and dramatically shape the future prospects of the continent for the better.”

 

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