Grants for African Entrepreneurs: The African Diaspora Marketplace (ADM) is a business plan competition designed to support the entrepreneurial spirit and resources of the U.S. based African diaspora community to promote economic development in Sub-Saharan Africa by facilitating diaspora direct investment (DDI) in viable small and medium enterprises(SMEs).

The ADM is currently seeking proposals for start-up and established businesses operating (or to be operated) through partnerships between U.S. based members of the African diaspora and local Sub-Saharan African entrepreneurs.

Following a rigorous review and selection process, 10-20 winning businesses will be awarded matching grants of between $50,000 and $100,000 each.

Grants to winners will be matched by investments of diaspora members and their partners on a one to one basis through a combination of financial and in-kind contributions.

Proposals must be implemented in one of the following Sub-Saharan African countries where USAID has both on the ground presence and potential technical assistance programs for entrepreneurs: Angola, Burundi, Ethiopia, Ghana, Kenya, Liberia, Malawi, Mali, Mozambique, Namibia, Nigeria, Rwanda, Senegal, Sierra Leone, South Africa, Sudan, Tanzania, Uganda and Zambia.

Eligibility:

• Must be a start-up or established business seeking to expand or introduce new goods or services.
• Must be legally registered in the Sub-Saharan African country of implementation.
• Businesses that are not yet legally registered may also participate in the competition provided they are able to become legally incorporated before advancing to the final round of the competition.
• Must include a minimum of 25% ownership by the proposing U.S. based diaspora member.
• Proposals that advance to the final round will be required to submit evidence of diaspora ownership.
• All commercially viable proposals will be considered; however, the ADM is particularly supportive of proposals for business ventures working in productive sectors including but not limited to: agribusiness, handicrafts, textiles, tourism, environmental services such as waste management, construction and infrastructure, logistics and transportation, manufacturing and assembly, fisheries, livestock and information and communication technologies (ICT).

For more information and application, see: Grants for African Entrepreneurs – ADM Business Plan Competition >

The post African Entrepreneurs grants Business plan Competition for Africa first appeared on Uganda Multimedia News & Information.