The African Entrepreneurship Award (AEA) was founded in 2014, supported by President Obama at the Global Entrepreneurship Summit at Stanford. The AEA has more than 50 African university partners and approximately half of the 4000 people who entered the competition are current students or recent grads. The AEA offers $1 million to winners and is sponsored by BMCE Bank of Africa.
AEA is the largest, private sector award in Africa focused solely on helping businesses that use technology. Its sole goal is to help create jobs and improve lives across the African continent. It is fully funded by BMCE Bank of Africa, the second largest bank in Morocco, North Africa.
EFN began its partnership with the AEA in 2016 providing global mentors, judges, trainers and coaches, virtually and at the finals in Africa.
In 2018, the Award is in its fourth year with over 4000 applications and 200 volunteer mentors who evaluate a variety of projects.