Jack Ma, founder of Chinese e-commerce giant Alibaba, is set to launch a new initiative dubbed “Netpreneur Prize” on his first visit to South Africa.

The initiative is aimed at creating a community of 100 young, African entrepreneurs and start-ups by 2030.

It will be launched today, August 8, 2018 in Johannesburg.

The Netpreneur Prize initiative will see to it that these 100 entrepreneurs receive grants that sum up to U.S.$10 million.

The launch which will take place at Linder Auditorium at University of the Witwatersrand has been themed “Netpreneurs: The Rise of Africa’s Digital Lions”.

It will discuss the challenges and opportunities facing a new digital Africa and the role that the public sector, investors, entrepreneurs and educational organisations must play in this transformation.

The event will also include; a keynote on Africa’s digital transformation by Dr Mukhisa Kituyi, Secretary-General, UNCTAD (United Nations Conference on Trade and Development).

As well as lightning talks (5 mins) from three entrepreneurs who were part of the Alibaba “eFounder’s programme” earlier this year on their digital entrepreneurship in Africa.

There will also be a keynote on the Netrepreneur prize and a vision for entrepreneurship in Africa from Jack Ma, founder of Alibaba.

Ma is one of the richest men in the world with a net worth of U.S.$42.7 billion.