The prize is open to all industries and small business owners and female entrepreneurs are encouraged to apply.
Organisers have opened the application process for the Africa Netpreneur Prize Initiative (ANPI) for entrepreneurs on the continent.
Alibaba Group executive chairperson Jack Ma created the prize after making his first trip to Africa in 2017 and being inspired by the entrepreneurial potential of the young people he met.
The competition will award US$10 million and recognise 100 African entrepreneurs over the next 10 years. It aims to support and inspire the next generation of entrepreneurs building a more sustainable and inclusive economy for the future.
Every year, 10 finalists will be selected and will gain access to the Netpreneur community of African business leaders to leverage the community’s shared expertise, best practice, and resources.
The prize is open to entrepreneurs from all industries and Ma has urged especially those running small businesses, those making a difference in their local communities, and female entrepreneurs to apply.