Contest Seeks Entrepreneurs from the African Diaspora

Posted by: John Tozzi on July 27, 2009

US AID and Western Union are seeking business plans from U.S.-based African entrepreneurs to spur investment in Sub-Saharan Africa. Between 10 and 20 winning business ideas will get seed grants of $50,000 to $100,000, to be matched by other investors. From the competition’s site:

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….

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.

More info on the program is in this AP story. The deadline has been extended to July 30. Details on how to apply are here.

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What's it like to run your own company today? Entrepreneurs face multiple hurdles new and old, from raising capital and managing employees to keeping up with technology and competing in a global marketplace. In this blog, the Small Business channel's John Tozzi and Nick Leiber discuss the news, trends, and ideas that matter to small business owners. Follow them on Twitter @newentrepreneur.

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