The annual Anzisha Prize for young African entrepreneurs is back for the 2016 edition, giving innovative social startups the chance to showcase their business and possibly win R400 000 cash.
The competition, organised by African Leadership Academy (ALA) and The MasterCard Foundation, is currently in its fifth year and is in search for 12 entrepreneurs under the age of 22 from across Africa with an active project, social venture or for-profit business based on the continent.
The winner will be chosen by judges should they fit the criteria which include, among other things, relevance to your market, creating jobs in your community and scalability.
The winner, chosen by judges will walk away with $25 000 (R400 000), first runner-up will receive $15 000 and second runner-up will get $12 500.
Each of the 12 finalists will receive a $7 500 (R120 000) fellowship package with the ALA’s Youth Entrepreneur Support Unit (YES-U) which includes the Anzisha Week boot camp, mentorship and consulting services, travel opportunities to network and business equipment.
There’s also a new $25 000 (R400 000) prize in store to recognise one entrepreneur who has created further social and economic value through their business by leveraging the opportunities provided by the ALA fellowship.
“It is essential that we nurture young, African entrepreneurial talent if we want to see the economic gains we all hope for in the future,” Koffi Assouan, Program Manager for the Anzisha Prize at The MasterCard Foundation said in a statement.
“Through the provision of leadership skills, access to finance and business networking opportunities, these young entrepreneurs will have the opportunity to reach their full potential and to improve their lives and the lives of others,” Assouan added.
Applications will close on 15th April 2016, submit yours on the Anzisha Prize website.
