The Anzisha Prize will be granting $200,000 to exceptionally driven young business leaders from various countries of the continent in its fellowship program dedicated to nurturing and empowering remarkably young entrepreneurs.
In a document seen by Nairametrics, the fellowship program is set to last for three years and will incentivize the expansion of businesses owned by young entrepreneurs with the grant prize money of $200,000.
In addition, the program will carefully monitor both the business’s progress and the entrepreneur’s development.
Details of the fellowship
The fellowship is targeted at enterprises that exhibit exceptional advancement and a proactive drive to get advantages such as educational programs, cloud services, and financial allowances.
During the end of the second year, entrepreneurs will present their businesses and accomplishments, vying for an opportunity to secure prizes totalling up to $50,000 in value.
The recipients will also get twice-yearly monetary allowances provided to eligible fellows throughout the fellowship.
Other benefits will be given to eligible fellows during Year 2 and Year 3 such as short-term educational prospects, internships, and specialized consultations with technical experts available
There will be a grand prize which is split into 4 categories, which are:
- Job Creation Prize – bestowed upon the entrepreneur in Year 2 who has generated the highest number of job opportunities since becoming part of the fellowship.
- Revenue Growth Prize – granted to the entrepreneur in Year 2 who has achieved the most substantial growth in business revenue since joining the fellowship.
- Storytelling Prize – presented to the entrepreneur in Year 2 who has adeptly conveyed and disseminated their entrepreneurial journey through written, verbal, and visual narratives since entering the fellowship.
- Integration Systems and Processes Prize – awarded to the entrepreneur in Year 2 who has proficiently employed the systems and processes acquired during the program to advance their business model since becoming a fellowship member.
Eligibility Criteria
- Applicants are required to be among the founders of the business, meaning that individuals who launched the project together as co-founders (e.g., 2 or 3 co-founders) are the ones eligible to apply.
- To be eligible, you need to fall within the age range of 15 to 22 years old and possess a valid ID document or Passport for verification. Individuals born before September 1, 2001, or after August 31, 2008, will not be considered.
- Additionally, your nationality should belong to an African country, and your business operations must be centred within Africa, serving African customers or beneficiaries.
- The Anzisha Prize is not granted for conceptual ideas or business plans alone which means you must have already initiated your venture and be capable of substantiating its existence. Applicants are to start taking action promptly to ensure concrete outcomes are available to present when the application period commences.
- Applicants should note that the scope of your business, invention, or social project is open to any field or industry, spanning from science and technology to civil society, arts and culture, sports, and others.
To qualify as an Anzisha Fellow, you need to demonstrate two essential qualities:
- Leadership and Strategy: You must be the driving force behind your venture, responsible for both its strategic direction and day-to-day operations.
- Time Commitment: You should be dedicating a minimum of 20 hours per week (or more) to your business, to sustain this level of involvement after being selected.
Judging Criteria
For your business or project to be chosen as one of the Anzisha ventures, it will be assessed based on the following five criteria:
- Establishment and Value: Is your venture operational, serving customers and beneficiaries while delivering value to them?
- Leadership: Are you, as the founder, actively leading and managing your venture?
- Impact: Does your venture exhibit a degree of impact already?
- Revenue Generation or Beneficiary Impact: Regardless of whether your venture is profit-oriented or cause-driven, is it already generating revenue or benefiting its recipients? Could Anzisha’s support potentially lead to increased revenues or broader beneficiary reach?
- Job Creation Potential: Has your venture generated jobs, and is there the potential to create more high-quality employment opportunities?
To apply, visit here to apply before the deadline of 7 September 2023
