- The Jack Ma Foundation, founded by co-founder of the Alibaba Group, launched the African Netpreneur Prize Initiative
- The program has called for applications to identify an African entrepreneur hero who will inspire
Recently retired Jack Ma formed the Jack Ma Foundation in 2014 to promote human development while making a conscientious effort towards an improved society and environment.
The core purpose of the foundation is: “to awaken social consciousness and responsibility to cultivate an innovative and sustainable model for a better world”. This vision led to the Africa Netpreneur, which will run for the next ten years.
Jack Ma was the former executive chairman of the Alibaba Group and one of the co-founders. He is a well respected figure around the world and made a significant impact on the Chinese internet industry. Jack Ma has dedicated his retirement to pursuing his philanthropic efforts, including education.
The Africa Netpreneur Prize Initiative, which will see one African entrepreneur receive $1 million, opened applications in March this year. Almost 10 000 applications were received from 50 out of 54 countries. A judging panel has shortlisted 50 applicants. From this list, ten finalists will be announced in October. They will pitch to Jack Ma in November, who will decide on a winner. However, the remaining finalists do not walk away empty handed as they will receive a grant and access to the expertise of a community of netpreneurs.
The foundation will grant $10 million over 10 years and aims to inspire countless entrepreneurs around Africa through the web of expertise that it seeks to create.
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