Alibaba founder Jack Ma has committed $10 million over ten years to support African entrepreneurs through the Jack Ma Foundation Netpreneur Prize — an initiative designed to reward and empower technology-driven businesses that are tackling social and economic challenges across the continent.
Announced at the “Netpreneurs: The Rise of Africa’s Digital Lions” conference in Johannesburg, the prize will award $1 million annually to ten innovative African entrepreneurs. Each finalist will receive funding, mentorship, and access to a vast network of business leaders.
Open to all sectors but focused on internet-led ventures, the competition targets African nationals leading mission-driven startups. The first round of applications opens in January 2019, and the final pitch competition will be aired publicly later in the year. A panel of judges representing five African regions will select the finalists.
Jack Ma, inspired by his own entrepreneurial journey, emphasized Africa’s potential in the digital age:
“This prize reflects our support for young entrepreneurs across Africa who are driving positive change in their communities.”
Global figures including UNCTAD Secretary-General Mukhisa Kituyi and former UN Secretary-General Ban Ki-Moon endorsed the initiative. Ban described the prize as a vehicle for “inclusive growth,” stating that “the next century belongs to Africa.”
The Netpreneur Prize marks a major push to place African innovators at the heart of global technological transformation.
