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APPLICATION
DO’S & DON’TS FOR APPLICATION
The Do’s
1. Check that you are eligible to apply! ABH has strict eligibility criteria.
 Applicant should be the Founder or Co-Founder of the company.
 Applicant is of African origin. You have African citizenship and/or a Parent or Grandparent has African
citizenship.
 Company is Africa-based. The business is registered in an African country and primarily operates in Africa.
 Company is post-idea stage. Business has been in operation for at least 3 years and has revenue for at least 3
years.
Only applicants who meet the ABH criteria will have their application reviewed.
2. Be honest. If you are shortlisted to become a finalist, you will have to undergo rigorous due diligence by our partner:
PricewaterhouseCoopers (PwC).
3. Demonstrate your answers. Where relevant provide evidence-based examples and details that will allow judges to
better understand your points.
4. Answer all required questions. Required questions will be indicated with an asterix (*). Please note that incomplete
applications will not be considered.
5. Please keep your answers short and clear. Inspire us with your business but do so within the word limits.
6. Use USD for all financial figures. Please ensure that you convert your local currency into USD and include the
exchange rate assumption used.
7. Ensure the audio of your video introductions is clear. Play it to a friend and ensure they can clearly hear the audio.
8. Check that your referralhas submitted their testimonial. Follow up with your referral and remind them to submit
their testimonial by the deadline - June 7th 2021 23:59 GMT
9. Record your videos early and submit your application on time. The most successful applicants submit ahead of the
deadline and with enough time to have peers/mentors review their application. Quality matters and that takes time.
We recommend you aim to complete your application at least a week before the deadline so you have time to make
any edits required.
10. Get support, if you’re stuck. Visit our LiveChat for real-time support, or email us at info@africabusinessheroes.org if
you’re stuck or if you have any questions.
The Don’ts
1. Do not disclose commercial or security sensitive information.1
2. Do not miss the deadline!! All applications must be submitted by June 6th 2022 23:59:59 GMT.
3. Do not overly elaborate/complicate your answers.
1 Thisincludespasswordsand any ideas, inventionsorother that may bepatentable but youhavenot yet patented. Kindly note, ifyou disclosepotentially
patentableinformation, it may invalidateany patent application you makelater.
Part 1: ELIGIBILITY CHECK
ABH HAS STRICT CRITERIA ON ELIGIBILITY OF CANDIDATES. PLEASE ANSWER THESE QUESTIONS TRUTHFULLY IN
ORDER TO CONTINUE WITH THE APPLICATION.
Are you of African Origin? Kindly select one answer and note that should be selected to the Top 50, proof will be
required:*
I am/was a citizen of an African country
A Parent or Grandparent has African citizenship
None of the above
What is the legal status of your company? Kindly choose one answer:*
Business is registered in one or more African countries (i.e. you have a business license for your present business issued
by an African government)
Business is operated in Africa but registered outside the continent (e.g. Europe, America)
Business is operational in Africa but has not been legally registered
Please upload your company’s business license/registration document. *
Choose File
* 10MB max, in JPG, PNGor PDF
When was the company formally registered/incorporated? * 2
When did your business become operational? *
Since your business was registered after JUNE 2019, please select one option below to submit proof you have been
operating for a minimum of three years. * 3
2 This date should match thedateon theregistration documentyou submitted above.
3 The document should be from June 2019 or earlier and clearly indicate the date.
a) Business invoices
b) Utility bills in the company’s name
c) Rental payments in the company’s name
d) Published reports/news articles on the company
e) IP applications, if any
Please upload the relevant document as proof. *
Choose File
* 10MB max, in JPG, PNGor PDF
Is your business operated in Africa? Kindly choose one answer:*
Business’ primary operations are in 1 or more African countries
Business’ operations are primarily in non-African markets
What is the revenue history of your company? 4 Kindly select one answer and note that should you be selected to
the Top 20, due diligence will be conducted: *
Business has generated revenue for more than 3 years
Business has generated revenue for less than 3 years
f) Grant receipts – proof of receipts of grants
g) Proof of Capital Raised"
4 Revenue history does not have to be consecutive.
What title best describes your position in the company? *
Founder Co-Founder Advisor Employee Other
Part 2: REFERENCES (1/2)
Please provide contact information for two individuals (an employee and a 3rd party (advisor, mentor, supplier,
friend) who can provide a reference on you, if we need it.
The individuals you choose should know you well enough that they can speak about you and/or your
business/product/service.
EMPLOYEE
Name: * Position: *
Country / Regional Code Phone number: *
Country / Regional Code Whatsapp Number
Email address: *
3RD PARTY (ADVISOR, MENTOR, SUPPLIER, FRIEND)
It cannot be a family member.
Name: * Relation to You: *
Profession: * Position: *
Country / Regional Code Phone Number: *
Country / Regional Code Whatsapp Number
Email address: *
* Please note that you may skipthe mandatory questions at the moment. However, please note that all these questions must be answered
before your application can be submitted.
Part 2: REFERENCES (2/2)
BACKGROUNDCHECK:
Do you have any criminal convictions?*
Yes No
Have you ever filed for bankruptcy or been disqualified from being a director of a company?*
Yes No
* Please note that you may skipthe mandatory questions at the moment. However, please note that all these questions must be answered
before your application can be submitted.
Part 3: FOUNDER PROFILE (1/4)
YOUR PERSONAL INFORMATION:
5 If you are selected to be an ABH Top 50 Finalist, this photo will be used for announcements & social media, and will also be included
on our website.
First Name: *
Last Name: *
Date of Birth: *
Nationality: *
Country / Regional Code:
Mobile Phone Number: *
Country / Regional Code:
Whatsapp Number:
Gender: *
Male Female
Please upload a high-resolution profile photo. * 5
Choose File
*20MB max, in JPG or PNG and at least 2000 x 2000px
Languages (fluency-level): *
Fluency level
Fluency level
Highest level of education:
Education
Position in business:*
CEO CMO CFO CPO Other Please specify:*
Links to any professional or social profiles or personal website:
Personal Website: Link:
Linkedin: Link:
Twitter: Link:
Facebook: Link:
Instagram: Link:
Other: Link:
* Please note that you mayskipthe mandatoryquestions at the moment. However, please note that all these questions must be answered
before your applicationcanbe submitted.
Part 3: FOUNDER PROFILE (2/4)
AT ABH, THE FOUNDERS - WHO THEY ARE, WHAT THEY BELIEVE IN AND WHAT
THEY DO IS EQUALLY AS IMPORTANT AS THE BUSINESSES THEY LEAD.
WE WANT TO KNOW YOU AND YOUR STORY.
YOUR STORY:
6 Be authentic when telling your story and keep it clear, bold, and persuasive by adding examples where possible.
Please describe yourself and tell us what motivated you to become an entrepreneur? (Max 100 words) * 6
Why are you applying for the ABH Prize? (Max 50 words)*
* Please note that you mayskipthe mandatoryquestions at the moment. However, please note that all these questions must be answered
before your applicationcanbe submitted
7 It does not have to be your most recent but choose the ones that highlight you best.
Part 3: FOUNDER PROFILE (3/4)
AWARDS & RECOGNITION:
If you have done some amazing things inthe past, whichyou’ve been recognized for, please share themwithus here. If you haven’t yet
been recognized for your achievements, don’t worry. We’re looking out for unsung heroes too!
Do you have any notable achievements? *
Yes (Please specify: *) No
Year: Title:
URL:
Year: Title:
URL:
Have you been featured in any news articles or on any media platforms? * 7
Yes (Please specify: *) No
Please share a maximum of your 5 best features.
Name: Link:
Name: Link:
Name: Link:
Name: Link:
Name: Link:
Have you won any entrepreneurship competitions? *
Yes (Please specify: *) No
Year: Name of Competition:
* Please note that you mayskipthe mandatoryquestions at the moment. However, please note that all these questions must be answered
before your applicationcanbe submitted.
Details:
Part 3: FOUNDER PROFILE (4/4)
Please specify the name of the ABH partner. *
Please specify the name of the incubator. *
Please specify the name of the other channel. *
Have you been invited to apply by any organization or individual? *
Yes No
If yes, please tell us the name(s) of the organization or individual: *
Please provide their contact information:
Email:
Have you applied to ABH before? * 8
8 Please note that we welcome previous applicants to apply and whether or not you applied in the past will not impact the assessment of
your application.
YOUR LINK TO ABH
How did you learn about this competition? *
• ABH Instagram • ABH Twitter
• ABH Facebook • ABH Youtube
• ABH Linkedin • ABH Show
• ABH Partner • Radio
• TV • ANPI Newsletter
• Newsletter • Search Engine
• Friends & Family • Incubator/BusinessCommunity
• Other
Yes No
* Please note that you mayskipthe mandatoryquestions at the moment. However, please note that all these questions must be answered
before your applicationcanbe submitted.
Part 4: BUSINESS PROFILE (1/2)
BEFORE WE DIG INTO THE DETAILS, WE WANT TO HAVE A BASIC UNDERSTANDING OF YOUR COMPANY.
PLEASE COMPLETE FILL THIS SECTION AS ACCURATELY AS POSSIBLE.
Business Background
Name of business:*
Please provide an elevator pitch (a brief summary of your business) that tells us:
 what your company does: the product and services that your company provides
 the problem you are trying to solve/the gap your business is filling: why do you provide these product and services?
 how the company makes money: what does your business sell?
 your track record so far: sales, jobs created, no. of customers, impact etc.
Your answer should be short and straightforward and express the most important information. You will have other
opportunities to expand on the problem, solution, business model and impact later in the application (100 words). * 9
EXAMPLE 1
Gricd offers mobile refrigerators and data loggers, enabling storage and last mile delivery of cold-chain products while
providing real-time information regarding storage conditions. Last mile distribution of cold-chain products is a challenge
for many African countries leaving a vast population vulnerable. To make money, we sell or lease out devices while
earning recurrent income from a subscription service access to live data from the devices. Last year, in collaboration with
Lagos State Government, we facilitated tracking of over 30,000 COVID-19 samples ensuring potency and security during
transit.
EXAMPLE 2
Water Access Rwanda (WAR) is a social enterprise committed to eradicating water scarcity by providing appropriate
technologies for durable access to water. WAR pioneered INUMA™️, a Safe Water Microgrid that reclaims broken
boreholes and transforms them into state-of-the-art solar-powered water kiosks and pipelines. The water is sold for
$1/1000L and creates off-farm jobs for youth. Currently, Water Access Rwanda employs 62 people, and allows over 50,000
customers access water daily across 86 stations.
Please provide us with the website of your venture and/or any links to your company’s social media platform
(optional):
Name Link
Name Link
Please upload a high-resolution image of your company’s logo. *
9 Assume you only have 1 minute to tell an ABH judge about your business, what will you tell them for them to understand what you do
and to remember you.
Choose File
10MB max, in JPGor PNGat least 1500 x 1500px. If you’re selected tobe a Top 50 Finalist, your logo may be used for marketing purposes.
Which industry does your business operate in? * 10
Industry
Please select the country/region where your company primarily operates in: *
Country / Region
Please state the city/town your company primarily operates in: *
Please provide the full address of your company’s headquarters: *
Does the business operate in multiple countries/regions? 11
Yes No
If yes, which other countries/regions does the company operate in? *
Does your company have a tax identification number? *
Yes No
Does your company have a tax clearance certificate for last year? * 12
Yes No
10 Your business may cut across multiple industries. However, please pick one that you feel is most applicable to your business.
11 Do you have offices, staff or customers in other countries / regions?
12 If yes, you will be required to provide it should you reach the Top 50 stage
Part 4: BUSINESS PROFILE (2/2)
Business Story
What is the vision of your business? (Max 25 words)*
EXAMPLE
Tega - Gricd
To achieve stronger Temperature Controlled Logistics for Africa thereby improving wellness and wellbeing on the
continent.
Charlot - Mukuru Clean Stoves
To be the most reliable cooking asset for base of the pyramid households.
TIP
a statement that explains the long-term ambition of the company and what it aims to achieve. Vision statement
addresses questions such as:
 What are our hopes and dreams?
 What problem are we solving for the greater good?
 Who and what are we inspiring to change?
A good vision statement is:
 Future oriented
 Goal oriented
 Inspirational
 Abstract & challenging
What is the mission of your business? (Max 25 words)*
EXAMPLE
Tega – Gricd
Bridging the trust gap in cold-chain management for Africa by provide real-time transparency into the storage and
transportation conditions of temperature sensitive products.
Charlot - Mukuru Clean Stoves
To eradicate household air pollution in Africa.
TIP
a statement that explains the purpose of your business and what the business does at the core. Mission statement
address questions such as:
 What do we do?
 Whom do we serve?
 How do we serve them?
A good mission statement is:
 Clear
 Concise
 Specific
 Target oriented
 Active: uses active verbs to describe what the company is doing now
What are your business’ core values (Max 10 words)*
EXAMPLE
Customer First, Integrity, Team Work
TIP
A values statement (or list) describes what you believe in. They address questions such as:
 What drives your priorities?
 How does your team work together?
 How does the business view it’s customers
* Please note that you mayskipthe mandatoryquestions at the moment. However, please note that all these questions must be answered
before your applicationcanbe submitted.
Part 5: BUSINESS DEEP DIVE (1/8)
PROBLEM & SOLUTION
What problem is your business tackling? (Max 150 words) * 13
EXAMPLE
Tega - Gricd
In 2015, I started a vegetable farm where we lost 40% of harvest due to lack of proper cold-chain infrastructure.
After this experience, I researched further and discovered an averageof 35% loss of food with some crops such as
vegetables experiencing 70% losses. This loss has adversely impacted lives, visibly so in Sub-Saharan Africa where
there are over 200 million undernourished people in this region. But the unavailability of efficient cold chain systems
affects numerous sectors, including healthcare which is the core focus of Gricd today. The UN suggests that Vaccines
save up to 20 million lives annually while in Africa today, 1 out of 5 infants do not have access to vaccines due to
poor Temperature Controlled Logistics. The lack of cold storage stems from the fact that the essential infrastructure
required to operate them including power, the road for last-mile distribution, etc. Gricd directly addresses these
problems
TIP
Pain points are challenges/areas that cause inconvenience/disadvantage or a need. Another way to look at a “pain
point” is to describe the “opportunity” you are addressing based on the challenge, need and inconvenience in the
market.
 Remember that the problem you state must be backed up by data
 You can refer to these resources for further assistance:
o How to writebusiness problem statements – Startups.com
o How to writebusiness problem statements – Intrapreneurnation
A strong answer will:
 Clearly articulatethe nature of the problem (e.g. gap in the market and inefficiency), the scale of the
problem and identify who is affected.
 This can be something you have observed as a failure in a particular system/value chain or a social problem
resulting in negative consequences.
 Clearly articulatethe pain-point
 Use a key data points or facts to validate the problem
A weak answer will:
 Be unclear in why the problem needs to be solved and what would happen if the problem was left
unaddressed
 Lack the specific details that capture the key aspects of the problem.
 Not clearly indicate an opportunity that lies within the challenge
How does the business solve this problem? (Max 200 words) *
EXAMPLE
Tega - Gricd
13 Define the challenge you are solving and what the pain points for customers looks like.
Gricd has built battery powered mobile refrigerators and data loggers that aresolar powered, and able to work in the
absence of electricity. These refrigerators can be fitted onto the back of a motorbike, boat, or truck to enable the
easy movement of produce and lifesaving mediation to and from the last mile. The technology also communicates in
real time informing users on location and storage conditions of products remotely and in real time. Beyond this, all
the data sent by the hardware device is accessible via a web platform that enables users.
TIP
A strong answer will:
 Explain how your solution works - how does your solution solve the problem or fix a failure or friction point
in the system
 Show a clear link between the solution and the problem/challenge you stated above
 Highlight the value-add of the solution (what the outcome will be with the solution in place) +(impact for the
target customers/beneficiaries)
 Show what makes your solution or product offering unique and have an edge in the market
A weak answer will:
 Rush to discuss the impact without unpacking how the product/services you areoffering solves the
challenge
 Have an unclear link between the solution and the problem
 Be focused on the technical aspects of the business
Please upload a maximum of 3 photos that illustrate the solution.
Choose File
Formats: JPEG/PNG/PDF
* Please note that you mayskipthe mandatoryquestions at the moment. However, please note that all these questions must be answered
before your applicationcan be submitted.
Part 5: BUSINESS DEEP DIVE (2/8)
MARKET - SIZE, PROFILE, DYNAMICS
Your Total Market Size (Total Addressable Market) in USD: *
TIPS
Total addressable market or TAM refers to the total market demand for a product or service.
 It’sthe maximum amount of revenue a business can possibly generate by selling their product or service in a
specific market.
 TAM refers to the amount of money your business can realistically earn. It is calculated by multiplying the
number of potential users you can realistically reach by the price of the product/ service (e.g. 5,000 Users x a
product price of $10 will give a TAM of $50,000.00).
 There can be published and frequently used figures for known target markets such as coffee market and
sneaker wear market. If your target market is not well covered by third party research companies, then you
can provide estimates of your own. This should reflect:
1. the potential target users/ customers you current product/ service can reach with your company’s
planned sales & marketing infrastructure;
2. the realistic price you can chargefor the product/ service.
USD:
Your Service Obtainable Market (Your Business' Revenue Potential) in USD: *
TIPS
Your Serviceable Obtainable Market (SOM): Segment of the total targetedby your products and services which is
within your geographical reach and that you believe can capture - in other word’s your Business’ revenue potential.
For additional resources, please visit these sites:
https://blog.hubspot.com/marketing/tam-sam-som
https://www.thebusinessplanshop.com/blog/en/entry/tam_sam_som
https://www.liveplan.com/blog/the-importance-of-tam-sam-and-som-in-your-plan
USD:
Please describe your overall market. (Max 150 words) *
EXAMPLE
Nava - Enda
The athletic footwear market is estimated to be worth $98 billion globally. Our products primarily target runners and
ethical consumers - consumers who want products that are good for the society and environment. We estimate this
market to be over $4 billion in revenue annually.
TIP
A strong answer will:
 Provide a clear segmentation of the market : the different type of consumers that you seek to appeal/attract
to with your different products/services. For example, you could have customer types based on geography
(local and international), behaviours (health conscious) or (elderly, young, etc.)
 Indicate market growth/trends – provide an indication of whether the market is growing, declining, changing
and use numbers to indicate the growth.
 Provide figures that are backed by logical assumptions and statistics/estimates. Use census data and/or
proxy data to identify estimated number of potential users and share data sources/reports to show where
the figures are coming from and provide legitimacy.
A weak answer will:
 Present assumptions that have flawed logical links
 Lack supporting data
 Fail to demonstrate knowledge of customer segment
Please indicate the number of customers you have for each category and the % of revenue that they generate. *
14
Market Number of Customers % of revenue
Government %
Businesses – Corporates %
Businesses – SMEs %
Individuals %
NGOs %
Others %
* Please note that you mayskipthe mandatoryquestions at the moment. However, please note that all these questions must be answered
before your applicationcanbe submitted.
14 If the particular category does not apply to your business, please put “0”
Part 5: BUSINESS DEEP DIVE (3/8)
COMPETITION
Who/what are your competitors? (Max 50 words) * 15
What is your unique selling point and competitive-advantage? (Max 150 words) *
TIPS
A strong answer will:
 Describe how your product/service fills a gap in the market or complements an existing solution in a unique
way
 Explain what value you are adding and what gives you an edge over your competitors
 Reference a specific aspect of your business model that makes it unique (e.g. input sourcing, technology,
make-up of your team or positioning of your product in the market)
 Do not underestimate your competitors
A weak answer will:
 Be vague - the answer will be more descriptive of the solution rather than highlight the unique elements of
the solution
 Fail to be convincing that competitive advantage is real and sustainable
* Please note that you mayskipthe mandatoryquestions at the moment. However, please note that all these questions must be answered
before your applicationcanbe submitted.
15 Describe the potential alternative solutions to the problem our business is try to solve.
Part 5: BUSINESS DEEP DIVE (4/8)
BUSINESS & REVENUE MODEL
Please describe your overall market. (Max 150 words) *
EXAMPLE
Yvette - Iriba
IRIBAWater Group pioneered IRIBATap&Drink innovation to bring affordable and reliable drinking water access to
low-income communities and schools through a two-fold business model:
Tap&Drink for urban communities: Smart water ATMs installed in low-earning communities providing safe drinking
waterto people at a 70% cheaper price than bottled water ($0.2/l). Water ATMs are franchised by youth.
Tap&Drink for Schools: Smart water ATMs installed in schools to provide students with reliable access to safe
drinking water. Students pay a low subscription fee per term (2USD), allowing them to have unlimited access to safe
drinking water for the whole academic term.
Ikenna - Releaf
Releaf’s business model is structured in a B2B model.
Our business earns money by working with smallholder farmers in the Niger Delta. We buy palm nuts and crack them
to obtain crude vegetable oil palm. We supply this oil to processors and food product manufacturers who use oil
palm in production or refining. These factories pay us in advance because of the vegetable oil demand in Nigeria.
We use SALT software to source and Kraken hardware to crack the nuts. Our Kraken deshelling hardware and SALT
sourcing software enable us to profitably source oil palm directly from smallholder suppliers.
TIP
 Provide the unit economics of your product/service.
 Unit economics describes a specific business model's revenues and costs in relation to an individual unit. A
unit refers to any basic, quantifiable item that creates value for a business. Thus, unit economics
demonstrates how much value each item—or “unit”—generates for the business.
 For an airline, a unit might be single seat sold, whereas a rideshare app like Uber would define a unit as one
ride in their vehicle. These units are then analyzed to determine how much profit or loss they individually
produce.
 In the case of a retail store, for instance, its unit economics is the amount of revenue it’s able to generate
every month from each single customer.
How do you sell or distribute your product/service? Please select all that apply. *
• Wholesalers • Retailers
• Agents • Social Media
• Website • Retail outlet/Shop
• Business development & contracts • Other
Please provide any additional context on your distribution channels – e.g., the type of channel that accounts for
a majority of your sales or anything unique/noteworthy about your distribution channels. (Max 50 words)
Please state your revenue history for 3 years of your choice in USD * 16
Year Amount of Revenue Generated (USD)
Year Amount of Revenue Generated (USD)
Year Amount of Revenue Generated (USD)
What are your major costs? Please select your three major costs. *
• Wages / Labor / Salaries / Payroll • Communication + Marketing
• Utilities / Electricity + Water Bill • Rent / OfficeSpace / Rental
• Hardware & IT • Admin
• Logistics / Transport/ ShippingExpenses • Raw materials/Input
• Travel & Accommodation • Consulting/ Legal & Professional Services
• Repairs & Maintenance • Fuel
• Depreciation • OfficeExpenses
• R&D • Other
Please select your business' top 3 challenges to growth. *
• Hiringtalent/employees • InsufficientCapital
• Resource (supply) constraints • New competitors/increased competition
• Weak distribution channels • Cashflow& financial management
• Government/Industry Policies • Reaching/Developingnew markets
• Other
What are the key risks to your business? (Max 50 words) * 17
16 Describe the potential alternative solutions to the problem our business is try to solve.
17 Don’t be afraid to list all your risks, it show that you understand your challenges and are prepared to overcome them.
How do you plan to address/overcome the challenges and risks you’ve indicated above? (Max 100 words) *
* Please note that you mayskip the mandatoryquestions at the moment. However, please note that all these questions must be answered
before your applicationcanbe submitted.
Part 5: BUSINESS DEEP DIVE (5/8)
How much of the business do you own? * 18
%
How has the business been funded to date? *
• Self-Funded • Family & Friends
• Bank loans • Grants
• Investment • Other
Please indicate the name of the investor(s) and the amount raised (in USD). *
Name Amount Raised
Name Amount Raised
Name Amount Raised
Please specify: *
Are you currently seeking investment? *
Yes No
Please use this online template to indicate your HISTORICAL and FORECASTED revenue, costs, and margins in
USD. *
TIP
Your historical data should show your financials for the last 3 years and forecasted should show data for the next 2
years.
 All figures must be in USD. You can use xe.com to convert your local currency to USD. You will be penalized if
your figures are in local currency.
 Ensure your financials are rounded to the nearest dollar.
18 Please insert numeric figure in %
 Please ensure you’re stating revenue not gross merchandise volume (GMV). Revenue is the money
generated from normal business operations, calculated as the average sales price times the number of units
sold. It is the top line (or gross income) figure before costs are subtracted.
 Please note that you can input 0 for any of the forecasted years (2022 – 2024) if you do not have the
forecast or for any fields that do not apply to your business.”For example, if your business is a pure B2C
business you can input “0” in all the rows for B2B Sales and B2G Sales.
Stage (Historical)
2019
(Historical)
2020
(Historical)
2021
(Forecasted)
2022
(Forecasted)
2023
(Forecasted)
2024
B2B Sales
B2C Sales
B2G Sales
Stage (Historical)
2019
(Historical)
2020
(Historical)
2021
(Forecasted)
2022
(Forecasted)
2023
(Forecasted)
2024
Labor
Marketing
Hardware & IT
Office Expenses
Type of Expense
Type of Expense
Type of Expense
Type of Expense
Type of Expense
* Please note that you mayskipthe mandatoryquestions at the moment. However, please note that all these questions must be answered
before your applicationcanbe submitted.
Part 5: BUSINESS DEEP DIVE (6/8)
TEAM PROFILE
Please list and describe your top team members (Max 50 words) *
TIP
 Highlight the key skills & profiles present on your team.
 Tell us what makes your team unique and why they are the ones that can properly execute on the problem
and solution.
How do you motivate and engage your team? (Max 150 words)*
Please indicate the number of your full-time staff over the last 3 years: *
2021 2020 2019
Please describe the HR system you have in place to manage your team/employees (Max 50 words). *
Do you have other business partners, co-founders, or directors? *
Yes No
Please state their names, their roles/positions, contributions, value-add and their the LinkedIn profile. *
Name Role
LinkedIn Profile
Main Contribution
Do you have a board of advisors? *
Yes No
Please state their names, their roles/positions, contributions, value-add and their the LinkedIn profile. *
Name
LinkedIn Profile
Main Contribution
Please upload a simple organisational chart of your business. *
(Optional) Choose File
Formats: JPEG/PNG/PDF
What plans do you have to expand or improve your team? (Max 50 words) *
* Please note that you may skipthe mandatory questions at the moment. However, please note that all these questions must be answered
before your application can be submitted.
Part 5: BUSINESS DEEP DIVE (7/8)
IMPACT
Which of the United Nation Sustainable Development Goals does your business tackle? * 19
• 1. No Poverty • 2. Zero Hunger
• 3. Good Health and Well-being • 4. Quality Education
• 5. Gender Equality • 6. Clean Water and Sanitation
• 7. Affordable and Clean Energy • 8. Decent Work and Economic Growth
• 9. Industry,Innovation and Infrastructure • 10. Reduced Inequality
• 11. SustainableCities and Communities • 12. ResponsibleConsumption and Production
• 13. ClimateAction • 14. Life Below Water
• 15. Life on Land • 16. Peace and JusticeStrong Institutions
19 The UN Sustainable Development Goals (SDG’s) are a collection of 17interlinked global goals designed to be a blueprint to achieve a
better and more sustainable future for all.
• 17. Partnerships to achievethe Goal
Using data and examples, please explain how your business is addressing the goals selected above. (100 words) *
* Please note that you mayskipthe mandatoryquestions at the moment. However, please note that all these questions must be answered
before your applicationcanbe submitted.
Part 5: BUSINESS DEEP DIVE (8/8)
FUTURE PLANS
What do you plan for your business to achieve in 3 years? (Max 150 words) *
TIPS
 Please include details on the specific growth you plan to achieve within 3 years (e.g. increased
revenues/customers by XX%, established (YY) stores, partners, distribution channels etc.)
 Highlight any new innovations/product/services you plan to develop/launch
 Kindly indicate any additional impact you would like your business to have created (e.g jobs created)
 Provide measurable statistics wherever possible
What is your strategy to achieve this plan? (150 words) *
TIPS
 Please ensure you answer the following:
 How will you scale your business?
 Marketing & Sales: how will you acquire new customers?
 Customer Service: how will you retain customers?
 How will you stay competitive?
If you were to win ABH prize money, how would you use the funds? (Max 100 words) * 20
TIPS
A strong answer will:
 Have a clear link between growth plans and suggested use of funds
 Explain the how the use of funds, will lead to specific results/outcomes and overarching impact
20 Heroes prize money ranges from $100k to $350k.
A weak answer will:
 State specific expenditure items without showing their importance
 State reasons that do not link to the growth plans listed
 Provide unsupported points on the impact the funds can create
Part 6: VIDEO INTRODUCTIONS
THE VIDEO INTRODUCTIONS ARE A KEY WAY FOR JUDGES TO GAIN INSIGHTS INTO WHO YOU ARE, YOUR TEAM AS
WELL UNDERSTAND HOW CUSTOMERS FEEL ABOUT YOU AND YOUR BUSINESS
Please shoot two videos:
Video 1 - should do ONE of two things and be less than two minutes:
 Gives insight into a day in your life as a Founder/Co-Founder of your business, or
 Provides a high-level tour of your company, product/service
Tips:
 We encourage you to introduce yourself and let a team member introduce themselves and their role.
 The video can be shot on TikTok, edited using Instagram Reels or any other app of your choice. You can
have a teammate help you to shoot it. Please note that it does not have to be professionally recorded.
Video 2 - Customer Testimonial should be one minute or less:
 Introduces a customer who shares their impressions on your product/service and how it has impacted
him/her
 We may need to contact your chosen customer for additional information. So please provide their contact
details
Guidelines:
 Videos can be recorded using a smartphone or laptop. They do NOT need to be professionally recorded.
 Film the videos in the language you are applying in (English or French). If any of the videos features any
other language, please include English or French subtitles.
 You can upload directly from your phone – watch this tutorial for tips OR you can upload a link to your
video. Please note that we only accept links of videos on Google Drive, Vimeo and Youtube. If you upload
your video to any external website, please ensure that the video is not restricted.
UPLOAD YOUR VIDEOS
Please click the UPLOAD YOUR VIDEOS button to begin the process of uploading your three separate videos: Self &
Business introduction and a Customer Testimonial.
You can also click on the title of the specific video that you’re ready to upload to go to that specific section.
Self & Business introduction
Customer Testimonial
UPLOAD YOUR VIDEOS
Once you’re on the relevant page, you can upload your video by clicking the Choose File button. Click Save/Next
and the upload progress bar will show up until the progress is complete, the page will be automatically refreshed.
When the video has uploaded, you will see the uploaded file name next to the upload bar.
Alternatively, you can also put a link to the relevant video hosted on Google Drive, Vimeo and Youtube. Please
ensure the link is viewable to external parties and does not have any restrictions on viewing.
Self & Business introduction
Please shoot two videos:
Video 1 - should do ONE of two things and be less than two minutes:
 Gives insight into a day in your life as a Founder/Co-Founder of your business, or
 Provides a high-level tour of your company, product/service
Tips:
 We encourage you to introduce yourself and let a team member introduce themselves and their role.
 The video can be shot on TikTok, edited using Instagram Reels or any other app of your choice. You can
have a teammate help you to shoot it. Please note that it does not have to be professionally recorded.
Video 2 - Customer Testimonial should be one minute or less:
 Introduces a customer who shares their impressions on your product/service and how it has impacted
him/her
 We may need to contact your chosen customer for additional information. So please provide their contact
details
Guidelines:
 Videos can be recorded using a smartphone or laptop. They do NOT need to be professionally recorded.
 Film the videos in the language you are applying in (English or French). If any of the videos features any
other language, please include English or French subtitles.
 You can upload directly from your phone – watch this tutorial for tips OR you can upload a link to your
video. Please note that we only accept links of videos on Google Drive, Vimeo and Youtube. If you upload
your video to any external website, please ensure that the video is not restricted.
UPLOAD YOUR VIDEOS
Self & Business Introduction *
Imagine you are being interviewed by a journalist. What would you want the audience to know about you and your
business.
Choose File
Formats: MP4/MOV
Or links to Google Drive, Vimeo and Youtube:
Link
Replacing videos:
 Please note that you may replace any of the videos by clicking the CHOOSE FILE button, then clicking
Next/Save to upload.
Content Guidelines:
 Be your authentic self! This is your chance to let your character and passion show.
 Ensure that you are audible. Play the video to others and ensure the audio is clear.
 Check the link you share is viewable by others. If it requires a password/special permission, we may not be
able to view it.
Customer Testimonial
Please shoot two videos:
Video 1 - should do ONE of two things and be less than two minutes:
 Gives insight into a day in your life as a Founder/Co-Founder of your business, or
 Provides a high-level tour of your company, product/service
Tips:
 We encourage you to introduce yourself and let a team member introduce themselves and their role.
 The video can be shot on TikTok, edited using Instagram Reels or any other app of your choice. You can
have a teammate help you to shoot it. Please note that it does not have to be professionally recorded.
Video 2 - Customer Testimonial should be one minute or less:
 Introduces a customer who shares their impressions on your product/service and how it has impacted
him/her
 We may need to contact your chosen customer for additional information. So please provide their contact
details
Guidelines:
 Videos can be recorded using a smartphone or laptop. They do NOT need to be professionally recorded.
 Film the videos in the language you are applying in (English or French). If any of the videos features any
other language, please include English or French subtitles.
 You can upload directly from your phone – watch this tutorial for tips OR you can upload a link to your
video. Please note that we only accept links of videos on Google Drive, Vimeo and Youtube. If you upload
your video to any external website, please ensure that the video is not restricted.
UPLOAD YOUR VIDEOS
Customer Testimonial *
We want to understand who your average customer is and why they purchase your product/service.
Choose File
Formats: MP4/MOV
Or links to Google Drive, Vimeo and Youtube:
Link
Replacing videos:
 Please note that you may replace any of the videos by clicking the CHOOSE FILE button, then clicking
Next/Save to upload.
Content Guidelines:
 Be your authentic self! This is your chance to let your character and passion show.
 Ensure that you are audible. Play the video to others and ensure the audio is clear.
 Check the link you share is viewable by others. If it requires a password/special permission, we may not be
able to view it.
We may need to contact your chosen customer for further details so please be ready to provide their contact
details below. *
Name Email Address *
Country / Regional Code Phone Number *
Country / Regional Code Whatsapp Number

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application_form_copy.docx

  • 1. APPLICATION DO’S & DON’TS FOR APPLICATION The Do’s 1. Check that you are eligible to apply! ABH has strict eligibility criteria.  Applicant should be the Founder or Co-Founder of the company.  Applicant is of African origin. You have African citizenship and/or a Parent or Grandparent has African citizenship.  Company is Africa-based. The business is registered in an African country and primarily operates in Africa.  Company is post-idea stage. Business has been in operation for at least 3 years and has revenue for at least 3 years. Only applicants who meet the ABH criteria will have their application reviewed. 2. Be honest. If you are shortlisted to become a finalist, you will have to undergo rigorous due diligence by our partner: PricewaterhouseCoopers (PwC). 3. Demonstrate your answers. Where relevant provide evidence-based examples and details that will allow judges to better understand your points. 4. Answer all required questions. Required questions will be indicated with an asterix (*). Please note that incomplete applications will not be considered. 5. Please keep your answers short and clear. Inspire us with your business but do so within the word limits. 6. Use USD for all financial figures. Please ensure that you convert your local currency into USD and include the exchange rate assumption used. 7. Ensure the audio of your video introductions is clear. Play it to a friend and ensure they can clearly hear the audio. 8. Check that your referralhas submitted their testimonial. Follow up with your referral and remind them to submit their testimonial by the deadline - June 7th 2021 23:59 GMT 9. Record your videos early and submit your application on time. The most successful applicants submit ahead of the deadline and with enough time to have peers/mentors review their application. Quality matters and that takes time. We recommend you aim to complete your application at least a week before the deadline so you have time to make any edits required. 10. Get support, if you’re stuck. Visit our LiveChat for real-time support, or email us at info@africabusinessheroes.org if you’re stuck or if you have any questions. The Don’ts 1. Do not disclose commercial or security sensitive information.1 2. Do not miss the deadline!! All applications must be submitted by June 6th 2022 23:59:59 GMT. 3. Do not overly elaborate/complicate your answers. 1 Thisincludespasswordsand any ideas, inventionsorother that may bepatentable but youhavenot yet patented. Kindly note, ifyou disclosepotentially patentableinformation, it may invalidateany patent application you makelater.
  • 2. Part 1: ELIGIBILITY CHECK ABH HAS STRICT CRITERIA ON ELIGIBILITY OF CANDIDATES. PLEASE ANSWER THESE QUESTIONS TRUTHFULLY IN ORDER TO CONTINUE WITH THE APPLICATION. Are you of African Origin? Kindly select one answer and note that should be selected to the Top 50, proof will be required:* I am/was a citizen of an African country A Parent or Grandparent has African citizenship None of the above What is the legal status of your company? Kindly choose one answer:* Business is registered in one or more African countries (i.e. you have a business license for your present business issued by an African government) Business is operated in Africa but registered outside the continent (e.g. Europe, America) Business is operational in Africa but has not been legally registered Please upload your company’s business license/registration document. * Choose File * 10MB max, in JPG, PNGor PDF When was the company formally registered/incorporated? * 2 When did your business become operational? * Since your business was registered after JUNE 2019, please select one option below to submit proof you have been operating for a minimum of three years. * 3 2 This date should match thedateon theregistration documentyou submitted above. 3 The document should be from June 2019 or earlier and clearly indicate the date. a) Business invoices b) Utility bills in the company’s name c) Rental payments in the company’s name d) Published reports/news articles on the company e) IP applications, if any
  • 3. Please upload the relevant document as proof. * Choose File * 10MB max, in JPG, PNGor PDF Is your business operated in Africa? Kindly choose one answer:* Business’ primary operations are in 1 or more African countries Business’ operations are primarily in non-African markets What is the revenue history of your company? 4 Kindly select one answer and note that should you be selected to the Top 20, due diligence will be conducted: * Business has generated revenue for more than 3 years Business has generated revenue for less than 3 years f) Grant receipts – proof of receipts of grants g) Proof of Capital Raised" 4 Revenue history does not have to be consecutive. What title best describes your position in the company? * Founder Co-Founder Advisor Employee Other
  • 4. Part 2: REFERENCES (1/2) Please provide contact information for two individuals (an employee and a 3rd party (advisor, mentor, supplier, friend) who can provide a reference on you, if we need it. The individuals you choose should know you well enough that they can speak about you and/or your business/product/service. EMPLOYEE Name: * Position: * Country / Regional Code Phone number: * Country / Regional Code Whatsapp Number Email address: * 3RD PARTY (ADVISOR, MENTOR, SUPPLIER, FRIEND) It cannot be a family member. Name: * Relation to You: * Profession: * Position: * Country / Regional Code Phone Number: * Country / Regional Code Whatsapp Number Email address: * * Please note that you may skipthe mandatory questions at the moment. However, please note that all these questions must be answered before your application can be submitted.
  • 5. Part 2: REFERENCES (2/2) BACKGROUNDCHECK: Do you have any criminal convictions?* Yes No Have you ever filed for bankruptcy or been disqualified from being a director of a company?* Yes No * Please note that you may skipthe mandatory questions at the moment. However, please note that all these questions must be answered before your application can be submitted.
  • 6. Part 3: FOUNDER PROFILE (1/4) YOUR PERSONAL INFORMATION: 5 If you are selected to be an ABH Top 50 Finalist, this photo will be used for announcements & social media, and will also be included on our website. First Name: * Last Name: * Date of Birth: * Nationality: * Country / Regional Code: Mobile Phone Number: * Country / Regional Code: Whatsapp Number: Gender: * Male Female Please upload a high-resolution profile photo. * 5 Choose File *20MB max, in JPG or PNG and at least 2000 x 2000px Languages (fluency-level): * Fluency level Fluency level Highest level of education: Education
  • 7. Position in business:* CEO CMO CFO CPO Other Please specify:* Links to any professional or social profiles or personal website: Personal Website: Link: Linkedin: Link: Twitter: Link: Facebook: Link: Instagram: Link: Other: Link: * Please note that you mayskipthe mandatoryquestions at the moment. However, please note that all these questions must be answered before your applicationcanbe submitted.
  • 8. Part 3: FOUNDER PROFILE (2/4) AT ABH, THE FOUNDERS - WHO THEY ARE, WHAT THEY BELIEVE IN AND WHAT THEY DO IS EQUALLY AS IMPORTANT AS THE BUSINESSES THEY LEAD. WE WANT TO KNOW YOU AND YOUR STORY. YOUR STORY: 6 Be authentic when telling your story and keep it clear, bold, and persuasive by adding examples where possible. Please describe yourself and tell us what motivated you to become an entrepreneur? (Max 100 words) * 6 Why are you applying for the ABH Prize? (Max 50 words)* * Please note that you mayskipthe mandatoryquestions at the moment. However, please note that all these questions must be answered before your applicationcanbe submitted
  • 9. 7 It does not have to be your most recent but choose the ones that highlight you best. Part 3: FOUNDER PROFILE (3/4) AWARDS & RECOGNITION: If you have done some amazing things inthe past, whichyou’ve been recognized for, please share themwithus here. If you haven’t yet been recognized for your achievements, don’t worry. We’re looking out for unsung heroes too! Do you have any notable achievements? * Yes (Please specify: *) No Year: Title: URL: Year: Title: URL: Have you been featured in any news articles or on any media platforms? * 7 Yes (Please specify: *) No Please share a maximum of your 5 best features. Name: Link: Name: Link: Name: Link: Name: Link: Name: Link: Have you won any entrepreneurship competitions? * Yes (Please specify: *) No Year: Name of Competition:
  • 10. * Please note that you mayskipthe mandatoryquestions at the moment. However, please note that all these questions must be answered before your applicationcanbe submitted. Details:
  • 11. Part 3: FOUNDER PROFILE (4/4) Please specify the name of the ABH partner. * Please specify the name of the incubator. * Please specify the name of the other channel. * Have you been invited to apply by any organization or individual? * Yes No If yes, please tell us the name(s) of the organization or individual: * Please provide their contact information: Email: Have you applied to ABH before? * 8 8 Please note that we welcome previous applicants to apply and whether or not you applied in the past will not impact the assessment of your application. YOUR LINK TO ABH How did you learn about this competition? * • ABH Instagram • ABH Twitter • ABH Facebook • ABH Youtube • ABH Linkedin • ABH Show • ABH Partner • Radio • TV • ANPI Newsletter • Newsletter • Search Engine • Friends & Family • Incubator/BusinessCommunity • Other
  • 12. Yes No * Please note that you mayskipthe mandatoryquestions at the moment. However, please note that all these questions must be answered before your applicationcanbe submitted.
  • 13. Part 4: BUSINESS PROFILE (1/2) BEFORE WE DIG INTO THE DETAILS, WE WANT TO HAVE A BASIC UNDERSTANDING OF YOUR COMPANY. PLEASE COMPLETE FILL THIS SECTION AS ACCURATELY AS POSSIBLE. Business Background Name of business:* Please provide an elevator pitch (a brief summary of your business) that tells us:  what your company does: the product and services that your company provides  the problem you are trying to solve/the gap your business is filling: why do you provide these product and services?  how the company makes money: what does your business sell?  your track record so far: sales, jobs created, no. of customers, impact etc. Your answer should be short and straightforward and express the most important information. You will have other opportunities to expand on the problem, solution, business model and impact later in the application (100 words). * 9 EXAMPLE 1 Gricd offers mobile refrigerators and data loggers, enabling storage and last mile delivery of cold-chain products while providing real-time information regarding storage conditions. Last mile distribution of cold-chain products is a challenge for many African countries leaving a vast population vulnerable. To make money, we sell or lease out devices while earning recurrent income from a subscription service access to live data from the devices. Last year, in collaboration with Lagos State Government, we facilitated tracking of over 30,000 COVID-19 samples ensuring potency and security during transit. EXAMPLE 2 Water Access Rwanda (WAR) is a social enterprise committed to eradicating water scarcity by providing appropriate technologies for durable access to water. WAR pioneered INUMA™️, a Safe Water Microgrid that reclaims broken boreholes and transforms them into state-of-the-art solar-powered water kiosks and pipelines. The water is sold for $1/1000L and creates off-farm jobs for youth. Currently, Water Access Rwanda employs 62 people, and allows over 50,000 customers access water daily across 86 stations. Please provide us with the website of your venture and/or any links to your company’s social media platform (optional): Name Link Name Link Please upload a high-resolution image of your company’s logo. * 9 Assume you only have 1 minute to tell an ABH judge about your business, what will you tell them for them to understand what you do and to remember you.
  • 14. Choose File 10MB max, in JPGor PNGat least 1500 x 1500px. If you’re selected tobe a Top 50 Finalist, your logo may be used for marketing purposes. Which industry does your business operate in? * 10 Industry Please select the country/region where your company primarily operates in: * Country / Region Please state the city/town your company primarily operates in: * Please provide the full address of your company’s headquarters: * Does the business operate in multiple countries/regions? 11 Yes No If yes, which other countries/regions does the company operate in? * Does your company have a tax identification number? * Yes No Does your company have a tax clearance certificate for last year? * 12 Yes No 10 Your business may cut across multiple industries. However, please pick one that you feel is most applicable to your business. 11 Do you have offices, staff or customers in other countries / regions? 12 If yes, you will be required to provide it should you reach the Top 50 stage
  • 15. Part 4: BUSINESS PROFILE (2/2) Business Story What is the vision of your business? (Max 25 words)* EXAMPLE Tega - Gricd To achieve stronger Temperature Controlled Logistics for Africa thereby improving wellness and wellbeing on the continent. Charlot - Mukuru Clean Stoves To be the most reliable cooking asset for base of the pyramid households. TIP a statement that explains the long-term ambition of the company and what it aims to achieve. Vision statement addresses questions such as:  What are our hopes and dreams?  What problem are we solving for the greater good?  Who and what are we inspiring to change? A good vision statement is:  Future oriented  Goal oriented  Inspirational  Abstract & challenging What is the mission of your business? (Max 25 words)* EXAMPLE Tega – Gricd Bridging the trust gap in cold-chain management for Africa by provide real-time transparency into the storage and transportation conditions of temperature sensitive products. Charlot - Mukuru Clean Stoves To eradicate household air pollution in Africa. TIP a statement that explains the purpose of your business and what the business does at the core. Mission statement address questions such as:  What do we do?  Whom do we serve?  How do we serve them? A good mission statement is:  Clear  Concise
  • 16.  Specific  Target oriented  Active: uses active verbs to describe what the company is doing now What are your business’ core values (Max 10 words)* EXAMPLE Customer First, Integrity, Team Work TIP A values statement (or list) describes what you believe in. They address questions such as:  What drives your priorities?  How does your team work together?  How does the business view it’s customers * Please note that you mayskipthe mandatoryquestions at the moment. However, please note that all these questions must be answered before your applicationcanbe submitted.
  • 17. Part 5: BUSINESS DEEP DIVE (1/8) PROBLEM & SOLUTION What problem is your business tackling? (Max 150 words) * 13 EXAMPLE Tega - Gricd In 2015, I started a vegetable farm where we lost 40% of harvest due to lack of proper cold-chain infrastructure. After this experience, I researched further and discovered an averageof 35% loss of food with some crops such as vegetables experiencing 70% losses. This loss has adversely impacted lives, visibly so in Sub-Saharan Africa where there are over 200 million undernourished people in this region. But the unavailability of efficient cold chain systems affects numerous sectors, including healthcare which is the core focus of Gricd today. The UN suggests that Vaccines save up to 20 million lives annually while in Africa today, 1 out of 5 infants do not have access to vaccines due to poor Temperature Controlled Logistics. The lack of cold storage stems from the fact that the essential infrastructure required to operate them including power, the road for last-mile distribution, etc. Gricd directly addresses these problems TIP Pain points are challenges/areas that cause inconvenience/disadvantage or a need. Another way to look at a “pain point” is to describe the “opportunity” you are addressing based on the challenge, need and inconvenience in the market.  Remember that the problem you state must be backed up by data  You can refer to these resources for further assistance: o How to writebusiness problem statements – Startups.com o How to writebusiness problem statements – Intrapreneurnation A strong answer will:  Clearly articulatethe nature of the problem (e.g. gap in the market and inefficiency), the scale of the problem and identify who is affected.  This can be something you have observed as a failure in a particular system/value chain or a social problem resulting in negative consequences.  Clearly articulatethe pain-point  Use a key data points or facts to validate the problem A weak answer will:  Be unclear in why the problem needs to be solved and what would happen if the problem was left unaddressed  Lack the specific details that capture the key aspects of the problem.  Not clearly indicate an opportunity that lies within the challenge How does the business solve this problem? (Max 200 words) * EXAMPLE Tega - Gricd 13 Define the challenge you are solving and what the pain points for customers looks like.
  • 18. Gricd has built battery powered mobile refrigerators and data loggers that aresolar powered, and able to work in the absence of electricity. These refrigerators can be fitted onto the back of a motorbike, boat, or truck to enable the easy movement of produce and lifesaving mediation to and from the last mile. The technology also communicates in real time informing users on location and storage conditions of products remotely and in real time. Beyond this, all the data sent by the hardware device is accessible via a web platform that enables users. TIP A strong answer will:  Explain how your solution works - how does your solution solve the problem or fix a failure or friction point in the system  Show a clear link between the solution and the problem/challenge you stated above  Highlight the value-add of the solution (what the outcome will be with the solution in place) +(impact for the target customers/beneficiaries)  Show what makes your solution or product offering unique and have an edge in the market A weak answer will:  Rush to discuss the impact without unpacking how the product/services you areoffering solves the challenge  Have an unclear link between the solution and the problem  Be focused on the technical aspects of the business Please upload a maximum of 3 photos that illustrate the solution. Choose File Formats: JPEG/PNG/PDF * Please note that you mayskipthe mandatoryquestions at the moment. However, please note that all these questions must be answered before your applicationcan be submitted.
  • 19. Part 5: BUSINESS DEEP DIVE (2/8) MARKET - SIZE, PROFILE, DYNAMICS Your Total Market Size (Total Addressable Market) in USD: * TIPS Total addressable market or TAM refers to the total market demand for a product or service.  It’sthe maximum amount of revenue a business can possibly generate by selling their product or service in a specific market.  TAM refers to the amount of money your business can realistically earn. It is calculated by multiplying the number of potential users you can realistically reach by the price of the product/ service (e.g. 5,000 Users x a product price of $10 will give a TAM of $50,000.00).  There can be published and frequently used figures for known target markets such as coffee market and sneaker wear market. If your target market is not well covered by third party research companies, then you can provide estimates of your own. This should reflect: 1. the potential target users/ customers you current product/ service can reach with your company’s planned sales & marketing infrastructure; 2. the realistic price you can chargefor the product/ service. USD: Your Service Obtainable Market (Your Business' Revenue Potential) in USD: * TIPS Your Serviceable Obtainable Market (SOM): Segment of the total targetedby your products and services which is within your geographical reach and that you believe can capture - in other word’s your Business’ revenue potential. For additional resources, please visit these sites: https://blog.hubspot.com/marketing/tam-sam-som https://www.thebusinessplanshop.com/blog/en/entry/tam_sam_som https://www.liveplan.com/blog/the-importance-of-tam-sam-and-som-in-your-plan USD: Please describe your overall market. (Max 150 words) * EXAMPLE Nava - Enda The athletic footwear market is estimated to be worth $98 billion globally. Our products primarily target runners and ethical consumers - consumers who want products that are good for the society and environment. We estimate this market to be over $4 billion in revenue annually.
  • 20. TIP A strong answer will:  Provide a clear segmentation of the market : the different type of consumers that you seek to appeal/attract to with your different products/services. For example, you could have customer types based on geography (local and international), behaviours (health conscious) or (elderly, young, etc.)  Indicate market growth/trends – provide an indication of whether the market is growing, declining, changing and use numbers to indicate the growth.  Provide figures that are backed by logical assumptions and statistics/estimates. Use census data and/or proxy data to identify estimated number of potential users and share data sources/reports to show where the figures are coming from and provide legitimacy. A weak answer will:  Present assumptions that have flawed logical links  Lack supporting data  Fail to demonstrate knowledge of customer segment Please indicate the number of customers you have for each category and the % of revenue that they generate. * 14 Market Number of Customers % of revenue Government % Businesses – Corporates % Businesses – SMEs % Individuals % NGOs % Others % * Please note that you mayskipthe mandatoryquestions at the moment. However, please note that all these questions must be answered before your applicationcanbe submitted. 14 If the particular category does not apply to your business, please put “0”
  • 21. Part 5: BUSINESS DEEP DIVE (3/8) COMPETITION Who/what are your competitors? (Max 50 words) * 15 What is your unique selling point and competitive-advantage? (Max 150 words) * TIPS A strong answer will:  Describe how your product/service fills a gap in the market or complements an existing solution in a unique way  Explain what value you are adding and what gives you an edge over your competitors  Reference a specific aspect of your business model that makes it unique (e.g. input sourcing, technology, make-up of your team or positioning of your product in the market)  Do not underestimate your competitors A weak answer will:  Be vague - the answer will be more descriptive of the solution rather than highlight the unique elements of the solution  Fail to be convincing that competitive advantage is real and sustainable * Please note that you mayskipthe mandatoryquestions at the moment. However, please note that all these questions must be answered before your applicationcanbe submitted. 15 Describe the potential alternative solutions to the problem our business is try to solve.
  • 22. Part 5: BUSINESS DEEP DIVE (4/8) BUSINESS & REVENUE MODEL Please describe your overall market. (Max 150 words) * EXAMPLE Yvette - Iriba IRIBAWater Group pioneered IRIBATap&Drink innovation to bring affordable and reliable drinking water access to low-income communities and schools through a two-fold business model: Tap&Drink for urban communities: Smart water ATMs installed in low-earning communities providing safe drinking waterto people at a 70% cheaper price than bottled water ($0.2/l). Water ATMs are franchised by youth. Tap&Drink for Schools: Smart water ATMs installed in schools to provide students with reliable access to safe drinking water. Students pay a low subscription fee per term (2USD), allowing them to have unlimited access to safe drinking water for the whole academic term. Ikenna - Releaf Releaf’s business model is structured in a B2B model. Our business earns money by working with smallholder farmers in the Niger Delta. We buy palm nuts and crack them to obtain crude vegetable oil palm. We supply this oil to processors and food product manufacturers who use oil palm in production or refining. These factories pay us in advance because of the vegetable oil demand in Nigeria. We use SALT software to source and Kraken hardware to crack the nuts. Our Kraken deshelling hardware and SALT sourcing software enable us to profitably source oil palm directly from smallholder suppliers. TIP  Provide the unit economics of your product/service.  Unit economics describes a specific business model's revenues and costs in relation to an individual unit. A unit refers to any basic, quantifiable item that creates value for a business. Thus, unit economics demonstrates how much value each item—or “unit”—generates for the business.  For an airline, a unit might be single seat sold, whereas a rideshare app like Uber would define a unit as one ride in their vehicle. These units are then analyzed to determine how much profit or loss they individually produce.  In the case of a retail store, for instance, its unit economics is the amount of revenue it’s able to generate every month from each single customer. How do you sell or distribute your product/service? Please select all that apply. * • Wholesalers • Retailers • Agents • Social Media • Website • Retail outlet/Shop
  • 23. • Business development & contracts • Other Please provide any additional context on your distribution channels – e.g., the type of channel that accounts for a majority of your sales or anything unique/noteworthy about your distribution channels. (Max 50 words) Please state your revenue history for 3 years of your choice in USD * 16 Year Amount of Revenue Generated (USD) Year Amount of Revenue Generated (USD) Year Amount of Revenue Generated (USD) What are your major costs? Please select your three major costs. * • Wages / Labor / Salaries / Payroll • Communication + Marketing • Utilities / Electricity + Water Bill • Rent / OfficeSpace / Rental • Hardware & IT • Admin • Logistics / Transport/ ShippingExpenses • Raw materials/Input • Travel & Accommodation • Consulting/ Legal & Professional Services • Repairs & Maintenance • Fuel • Depreciation • OfficeExpenses • R&D • Other Please select your business' top 3 challenges to growth. * • Hiringtalent/employees • InsufficientCapital • Resource (supply) constraints • New competitors/increased competition • Weak distribution channels • Cashflow& financial management • Government/Industry Policies • Reaching/Developingnew markets • Other What are the key risks to your business? (Max 50 words) * 17 16 Describe the potential alternative solutions to the problem our business is try to solve. 17 Don’t be afraid to list all your risks, it show that you understand your challenges and are prepared to overcome them.
  • 24. How do you plan to address/overcome the challenges and risks you’ve indicated above? (Max 100 words) * * Please note that you mayskip the mandatoryquestions at the moment. However, please note that all these questions must be answered before your applicationcanbe submitted.
  • 25. Part 5: BUSINESS DEEP DIVE (5/8) How much of the business do you own? * 18 % How has the business been funded to date? * • Self-Funded • Family & Friends • Bank loans • Grants • Investment • Other Please indicate the name of the investor(s) and the amount raised (in USD). * Name Amount Raised Name Amount Raised Name Amount Raised Please specify: * Are you currently seeking investment? * Yes No Please use this online template to indicate your HISTORICAL and FORECASTED revenue, costs, and margins in USD. * TIP Your historical data should show your financials for the last 3 years and forecasted should show data for the next 2 years.  All figures must be in USD. You can use xe.com to convert your local currency to USD. You will be penalized if your figures are in local currency.  Ensure your financials are rounded to the nearest dollar. 18 Please insert numeric figure in %
  • 26.  Please ensure you’re stating revenue not gross merchandise volume (GMV). Revenue is the money generated from normal business operations, calculated as the average sales price times the number of units sold. It is the top line (or gross income) figure before costs are subtracted.  Please note that you can input 0 for any of the forecasted years (2022 – 2024) if you do not have the forecast or for any fields that do not apply to your business.”For example, if your business is a pure B2C business you can input “0” in all the rows for B2B Sales and B2G Sales. Stage (Historical) 2019 (Historical) 2020 (Historical) 2021 (Forecasted) 2022 (Forecasted) 2023 (Forecasted) 2024 B2B Sales B2C Sales B2G Sales Stage (Historical) 2019 (Historical) 2020 (Historical) 2021 (Forecasted) 2022 (Forecasted) 2023 (Forecasted) 2024 Labor Marketing Hardware & IT Office Expenses Type of Expense Type of Expense Type of Expense Type of Expense Type of Expense * Please note that you mayskipthe mandatoryquestions at the moment. However, please note that all these questions must be answered before your applicationcanbe submitted.
  • 27. Part 5: BUSINESS DEEP DIVE (6/8) TEAM PROFILE Please list and describe your top team members (Max 50 words) * TIP  Highlight the key skills & profiles present on your team.  Tell us what makes your team unique and why they are the ones that can properly execute on the problem and solution. How do you motivate and engage your team? (Max 150 words)* Please indicate the number of your full-time staff over the last 3 years: * 2021 2020 2019 Please describe the HR system you have in place to manage your team/employees (Max 50 words). * Do you have other business partners, co-founders, or directors? * Yes No Please state their names, their roles/positions, contributions, value-add and their the LinkedIn profile. * Name Role LinkedIn Profile Main Contribution
  • 28. Do you have a board of advisors? * Yes No Please state their names, their roles/positions, contributions, value-add and their the LinkedIn profile. * Name LinkedIn Profile Main Contribution Please upload a simple organisational chart of your business. * (Optional) Choose File Formats: JPEG/PNG/PDF What plans do you have to expand or improve your team? (Max 50 words) * * Please note that you may skipthe mandatory questions at the moment. However, please note that all these questions must be answered before your application can be submitted. Part 5: BUSINESS DEEP DIVE (7/8) IMPACT Which of the United Nation Sustainable Development Goals does your business tackle? * 19 • 1. No Poverty • 2. Zero Hunger • 3. Good Health and Well-being • 4. Quality Education • 5. Gender Equality • 6. Clean Water and Sanitation • 7. Affordable and Clean Energy • 8. Decent Work and Economic Growth • 9. Industry,Innovation and Infrastructure • 10. Reduced Inequality • 11. SustainableCities and Communities • 12. ResponsibleConsumption and Production • 13. ClimateAction • 14. Life Below Water • 15. Life on Land • 16. Peace and JusticeStrong Institutions 19 The UN Sustainable Development Goals (SDG’s) are a collection of 17interlinked global goals designed to be a blueprint to achieve a better and more sustainable future for all.
  • 29. • 17. Partnerships to achievethe Goal Using data and examples, please explain how your business is addressing the goals selected above. (100 words) * * Please note that you mayskipthe mandatoryquestions at the moment. However, please note that all these questions must be answered before your applicationcanbe submitted.
  • 30. Part 5: BUSINESS DEEP DIVE (8/8) FUTURE PLANS What do you plan for your business to achieve in 3 years? (Max 150 words) * TIPS  Please include details on the specific growth you plan to achieve within 3 years (e.g. increased revenues/customers by XX%, established (YY) stores, partners, distribution channels etc.)  Highlight any new innovations/product/services you plan to develop/launch  Kindly indicate any additional impact you would like your business to have created (e.g jobs created)  Provide measurable statistics wherever possible What is your strategy to achieve this plan? (150 words) * TIPS  Please ensure you answer the following:  How will you scale your business?  Marketing & Sales: how will you acquire new customers?  Customer Service: how will you retain customers?  How will you stay competitive? If you were to win ABH prize money, how would you use the funds? (Max 100 words) * 20 TIPS A strong answer will:  Have a clear link between growth plans and suggested use of funds  Explain the how the use of funds, will lead to specific results/outcomes and overarching impact 20 Heroes prize money ranges from $100k to $350k.
  • 31. A weak answer will:  State specific expenditure items without showing their importance  State reasons that do not link to the growth plans listed  Provide unsupported points on the impact the funds can create
  • 32. Part 6: VIDEO INTRODUCTIONS THE VIDEO INTRODUCTIONS ARE A KEY WAY FOR JUDGES TO GAIN INSIGHTS INTO WHO YOU ARE, YOUR TEAM AS WELL UNDERSTAND HOW CUSTOMERS FEEL ABOUT YOU AND YOUR BUSINESS Please shoot two videos: Video 1 - should do ONE of two things and be less than two minutes:  Gives insight into a day in your life as a Founder/Co-Founder of your business, or  Provides a high-level tour of your company, product/service Tips:  We encourage you to introduce yourself and let a team member introduce themselves and their role.  The video can be shot on TikTok, edited using Instagram Reels or any other app of your choice. You can have a teammate help you to shoot it. Please note that it does not have to be professionally recorded. Video 2 - Customer Testimonial should be one minute or less:  Introduces a customer who shares their impressions on your product/service and how it has impacted him/her  We may need to contact your chosen customer for additional information. So please provide their contact details Guidelines:  Videos can be recorded using a smartphone or laptop. They do NOT need to be professionally recorded.  Film the videos in the language you are applying in (English or French). If any of the videos features any other language, please include English or French subtitles.  You can upload directly from your phone – watch this tutorial for tips OR you can upload a link to your video. Please note that we only accept links of videos on Google Drive, Vimeo and Youtube. If you upload your video to any external website, please ensure that the video is not restricted.
  • 33. UPLOAD YOUR VIDEOS Please click the UPLOAD YOUR VIDEOS button to begin the process of uploading your three separate videos: Self & Business introduction and a Customer Testimonial. You can also click on the title of the specific video that you’re ready to upload to go to that specific section. Self & Business introduction Customer Testimonial UPLOAD YOUR VIDEOS Once you’re on the relevant page, you can upload your video by clicking the Choose File button. Click Save/Next and the upload progress bar will show up until the progress is complete, the page will be automatically refreshed. When the video has uploaded, you will see the uploaded file name next to the upload bar. Alternatively, you can also put a link to the relevant video hosted on Google Drive, Vimeo and Youtube. Please ensure the link is viewable to external parties and does not have any restrictions on viewing.
  • 34. Self & Business introduction Please shoot two videos: Video 1 - should do ONE of two things and be less than two minutes:  Gives insight into a day in your life as a Founder/Co-Founder of your business, or  Provides a high-level tour of your company, product/service Tips:  We encourage you to introduce yourself and let a team member introduce themselves and their role.  The video can be shot on TikTok, edited using Instagram Reels or any other app of your choice. You can have a teammate help you to shoot it. Please note that it does not have to be professionally recorded. Video 2 - Customer Testimonial should be one minute or less:  Introduces a customer who shares their impressions on your product/service and how it has impacted him/her  We may need to contact your chosen customer for additional information. So please provide their contact details Guidelines:  Videos can be recorded using a smartphone or laptop. They do NOT need to be professionally recorded.  Film the videos in the language you are applying in (English or French). If any of the videos features any other language, please include English or French subtitles.  You can upload directly from your phone – watch this tutorial for tips OR you can upload a link to your video. Please note that we only accept links of videos on Google Drive, Vimeo and Youtube. If you upload your video to any external website, please ensure that the video is not restricted. UPLOAD YOUR VIDEOS Self & Business Introduction * Imagine you are being interviewed by a journalist. What would you want the audience to know about you and your business. Choose File Formats: MP4/MOV Or links to Google Drive, Vimeo and Youtube: Link Replacing videos:  Please note that you may replace any of the videos by clicking the CHOOSE FILE button, then clicking Next/Save to upload. Content Guidelines:
  • 35.  Be your authentic self! This is your chance to let your character and passion show.  Ensure that you are audible. Play the video to others and ensure the audio is clear.  Check the link you share is viewable by others. If it requires a password/special permission, we may not be able to view it.
  • 36. Customer Testimonial Please shoot two videos: Video 1 - should do ONE of two things and be less than two minutes:  Gives insight into a day in your life as a Founder/Co-Founder of your business, or  Provides a high-level tour of your company, product/service Tips:  We encourage you to introduce yourself and let a team member introduce themselves and their role.  The video can be shot on TikTok, edited using Instagram Reels or any other app of your choice. You can have a teammate help you to shoot it. Please note that it does not have to be professionally recorded. Video 2 - Customer Testimonial should be one minute or less:  Introduces a customer who shares their impressions on your product/service and how it has impacted him/her  We may need to contact your chosen customer for additional information. So please provide their contact details Guidelines:  Videos can be recorded using a smartphone or laptop. They do NOT need to be professionally recorded.  Film the videos in the language you are applying in (English or French). If any of the videos features any other language, please include English or French subtitles.  You can upload directly from your phone – watch this tutorial for tips OR you can upload a link to your video. Please note that we only accept links of videos on Google Drive, Vimeo and Youtube. If you upload your video to any external website, please ensure that the video is not restricted. UPLOAD YOUR VIDEOS Customer Testimonial * We want to understand who your average customer is and why they purchase your product/service. Choose File Formats: MP4/MOV Or links to Google Drive, Vimeo and Youtube: Link Replacing videos:  Please note that you may replace any of the videos by clicking the CHOOSE FILE button, then clicking Next/Save to upload. Content Guidelines:
  • 37.  Be your authentic self! This is your chance to let your character and passion show.  Ensure that you are audible. Play the video to others and ensure the audio is clear.  Check the link you share is viewable by others. If it requires a password/special permission, we may not be able to view it. We may need to contact your chosen customer for further details so please be ready to provide their contact details below. * Name Email Address * Country / Regional Code Phone Number * Country / Regional Code Whatsapp Number