According to a statement released last week (1st March), this year’s total prize pool has been increased from $75,000 last year to $100,000. This comes with a new category that will recognize fellows who have created further economic and social value.
Africa's youngest entrepreneurs' award, the Anzisha Prize has launched for the 2016 cycle with a call for applications and nominations from across the continent.
The initiative of the Africa Leadership Academy (ALA) and the MasterCard Foundation seeks to stimulate, celebrate, nurture and scale young African entrepreneurs and catalyse the ecosystem that supports them. It recognises young innovators, aged 15 - 22, who have developed and implemented solutions to challenges facing their communities and created dynamic businesses.
According to a statement released last week (1st March), this year's total prize pool has been increased from $75,000 last year to $100,000. This comes with a new category that will recognize fellows who have created further economic and social value.
The grand prize winner will take home $25,000, 1st runner-up receiving $15,000 and 2nd runner-up $12,500. The remaining nine finalists will receive $2,500 USD each.
Each of the 12 finalists according to the statement will receive a $7500 fellowship package with the ALA's Youth Entrepreneur Support Unit which includes the boot camp, mentorship and consulting services, travel opportunities to network and business equipment.
"It is essential that we nurture young, African entrepreneurial talent if we want to see the economic gains we all hope for in the future," said Koffi Assouan, the Program Manager for the Anzisha Prize at The MasterCard Foundation. Adding that, "Through the provision of leadership skills, access to finance and business networking opportunities, these young entrepreneurs will have the opportunity to reach their full potential and to improve their lives and the lives of others".
According to Grace Kalisha, the manager of the Anzisha Program at African Leadership Academy, anyone from the public can nominate young people running amazing projects or businesses in the communities.
The prize is open to any African national under the age of 22 with an active project, social venture or for-profit business based on the continent.
The Judging criteria for the prize according to the statement have been refined to better represent the entrepreneurial talent that the Anzisha Prize wants to uncover and support.
Applications will close on 15 April 2016 and application forms are available in English, French, Portuguese and Arabic. Teachers, parents and community members are therefore encouraged to identify talented young people.