In a bid to give African entrepreneurs the opportunity to expand their business, the Jack Ma Foundation last year launched the Africa Netpreneur Prize Initiative, for which applications are now open till June 30.

Applicants as part of the competition will have to consider a visionary approach towards creating all-inclusive solutions to the continent’s challenges.

The initiative aimed at empowering a new generation of African entrepreneurs will each year select 10 finalists to compete in a pitch competition that will be broadcast across the continent.

Each finalist will gain access to the Netpreneur community of African business leaders to leverage the community’s shared expertise, best practice and resources. 

The prize will see US$10 million in grant funding distributed poll by the Jack Ma Foundation to 100 entrepreneurs over the next 10 years.

According to Nailab founder and chief executive officer (CEO) Sam Gichuru, the initiative “… is a unique prize that is looking to inspire and reward heroes in both technology-driven and traditional businesses.”

And as such, hopes that all of the applicants will be able to use this opportunity to break through the barriers that have been holding them back.