U.S.$100,000 for Grabs for African Youth Entrepreneurs – Watch

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U.S.$100,000 for Grabs for African Youth Entrepreneurs – Watch

8:38 CAT | 26 Mar 2017

African Leadership Academy (File photo)

African Leadership Academy and the MasterCard Foundation have launched the 2017 call for applications for the Anzisha Prize, Africa’s award for youth entrepreneurs who are making their mark on Africa’s entrepreneurial landscape.

Fifteen of Africa’s most promising business and social entrepreneurs between the ages of 15 and 22 have the opportunity to win a share of US$100,000, receive ongoing business consulting services, and connect to a global network of leaders.

“Finalists for the prize win far more than access to a share of the pool of US$100,000 in prize money, they also access a business incubation fellowship aimed at growing their business and supporting their professional development,” said Grace Kalisha, Senior Programs Manager for Anzisha Prize.

Anzisha Prize aims to scale the businesses of the young entrepreneurs, enabling them to employ other youth and showcase the power of youth-led business in Africa.

Young entrepreneur Faustino Quissico was the first Mozambican finalist in the Anzisha Prize 2016 edition. Through selling T-shirts and organizing music concerts, he raised starting capital. His company, TQ Group Services, is a construction company involved in the production of hardwood floors as well as pool construction and maintenance using locally sourced raw materials. The company presently employ 13 people. He hopes to grow his company’s assets to gross over a billion dollars, employing a multitude of locals to be involved in all manner of construction.

Young Nigerian and co-founder of Slatecube, Chris Kwekowe, emerged winner of the $25,000 grand prize of the 5th edition of Anzisha Prize.

Image result for Chris Kwekowe — Chris Kwekowe

More info on the Anzisha Prize:

Africa’s premier award for young entrepreneurs aged 15-22, who have started and are actively running innovative social ventures or for-profit businesses with potential.

The Anzisha Prize seeks to award young entrepreneurs who have developed and implemented innovative solutions to social challenges or started successful businesses within their communities. 12 finalists from across Africa will win an all-expenses paid trip to South Africa to be a part of a week-long entrepreneurship workshop and conference at African Leadership Academy. The grand prize winners, selected from these finalists, will share prizes worth $100,000 USD.

It is time! Anzisha Prize applications are now open! You may apply starting, February 15, 2017. Hurry, we close applications on 1 April 2017. It’s a simple application so why not get right to it. Send any questions to [email protected]

First, make sure you are eligible to enter:

You must be between 15 and 22 years old with an ID document or Passport to present as evidence. Anyone born before April 16, 1994 or after April 16, 2001 will not be considered.

You must be a national of an African country with a business based in Africa for African customers/ beneficiaries.
Your business must be up and running. The Anzisha Prize is not for great ideas or business plans – you must have already started, and be able to prove it! You have time to get started now and have tangible results to share before applications open.
Your business, invention or social project can be in any field or industry (science and technology, civil society, arts and culture, sports, etc.). Any kind of venture is welcome to apply.
Individuals who apply must be one of the founding members of a business (for example, 2 or 3 co-founders who started a business together). One person can apply for the Prize, on behalf of the team.

To be selected as one of our Anzisha ventures, your business or project will be judged on the following 5 criteria:

Already Running Venture: Is the venture established with customers and beneficiaries? Does the venture deliver value to said beneficiaries and customers?
Founder-led: Is the venture led and managed by the founder?
Impact: Has the venture demonstrated some impact already?
Scalability: If the venture is a for-profit business, does it already earn revenues and does it have potential increase revenues with the support of Anzisha? If the venture is a not-for-profit enterprise, does it already reach beneficiaries and does it have the potential to reach many more beneficiaries with support from Anzisha?
Job Creation: Has the venture created some jobs and has the potential to create more high quality jobs?

To be selected as an Anzisha Fellow, you must demonstrate the two following qualities:

Venture leader: Are you the leader of your venture and do you drive both venture strategy and operations
Commitment: Do you spend at least 20 hours a week or more on your business and will you continue to do so after selection?

Value of the Fellowship – Additional investment of $8,000/ $10,000 in each Fellow

Monetary Reward of a shared amount of $100,000
$2,000 access to a world- renowned Entrepreneurial Leadership curriculum and training with the potential for further investment based on engagement and performance
$2,500 worth of rewards from consulting and mentorship services
$2,000 worth of rewards from Global speaking events or Experts in Residence support
$1,000 worth of rewards from Regional Indabas across the continent

Source: Daily Trust / www.anzishaprize.org