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RiseUp invites Egyptian startups to participate in $1.5m competition

RiseUp invites Egyptian startups to participate in $1.5m competition
The competition is open for entrepreneurs until 22 June

Cairo – Mubasher: The startup accelerator RiseUp called on Egyptian startups to submit applications to the second edition of the “Africa’s Business Heroes” (ABH) prize competition, organised by Jack Ma Foundation, with a prize pool of $1.5 million.

The competition is open for entrepreneurs from all 54 African countries until 22 June, according to a statement on Wednesday.

Businesses that have generated revenue for three years can be one of 10 finalists who will receive a total of $1.5 million, up from $1 million in 2019, the competition’s local partner RiseUp said.

Participators will also gain exposure, get mentorship by business leaders, and receive training at Alibaba headquarters in Hangzhou, in addition to pitching directly to Alibaba mogul Jack Ma.

In last year’s edition, Nawah-Scientific's Omar Sakr and Mumm's Waleed Abdelrahman won $150,000 and $65,000 in cash, respectively, and joined the Africa Netpreneur Prize Initiative (ANPI) network of mentors and African startups.

Semi-finalists will be revealed in August, while the top 10 finalists will be announced in September.