Nigeria’s LifeBank scoops $250k in Jack Ma’s Africa Netpreneur Prize

LifeBank, a Nigerian healthtech startup that delivers blood and other essential medical supplies to hospitals, has been awarded $250 000 after it was named the winner of the inaugural Africa Netpreneur Prize.

This, according to an article yesterday by the South China Morning Post and a story also published yesterday, by Kenyan tech publication Tech Moran.

The prize is an initiative of Alibaba Group founder and former executive chairman Jack Ma and will award $10-million to 100 African entrepreneurs over the next 10 years. It aims to support small business growth, grassroots innovation and women founders (see this story).

As part of the initiative the Jack Ma Foundation will each year host an annual pitch competition, with 10 finalists selected from across the continent to showcase their talent and business ideas and compete for $1-million in prize money.

LifeBank founder Temie Tubosun was also awarded the Africa Business Hero Award

LifeBank, which was founded in 2016 by Temie Tubosun (pictured above), was last Saturday (16 November) named the winner of the initiative’s inaugural pitching competition at an event held in Accra, Ghana.

Tubosun was also awarded the Africa Business Hero Award.

It’s a beautiful moment for @temite of @lifebanknigeria, who takes home the top #ANPI2019 Africa Business Hero Award! 🔥 You showed up and made Africa proud.

— Africa Netpreneur Prize Initiative (@AFNetpreneurs) November 16, 2019

Egypt’s Nawah-Scientific and Water Access Rwanda were placed second and third, taking home $150 000 and $100 000, respectively.

The other seven finalists were each awarded $65 000. They are Mumm, Thrive Agric, J-Palm, Uzuri K&Y, Black Swan, DrugStoc, and Afrikrea (see this story for more on the finalists).

The winners were selected by a panel of judges that included Ma, Alibaba executive vice chairman Joe Tsai, Econet Group founder and executive chairman Strive Masiyiwa and The Chair Centre Group founder and CEO as well as First Bank of Nigeria chairman Ibukun Awosika.

Temie, of @lifebanknigeria, has become famous for her slogan: “We’re in the business of saving lives”. She’s taken her seat on the panel to seek wisdom from the judges and earn a winning spot. #ANPI2019 #LookingForHeroes

— Africa Netpreneur Prize Initiative (@AFNetpreneurs) November 16, 2019

Read more: Africa Netpreneur Prize Initiative announces 10 finalists in running for share of $1m
Read more: Here’s all you need to know about Jack Ma’s Africa Netpreneur Prize
Read more: Jack Ma challenges Africans to seize opportunities, announces $10m prize
Read more: Yes, we’ve closed $200 000 EchoVC-led round confirms Nigerian startup LifeBank

Feature image: Lifebank founder Temie Tubosun (Africa Netpreneur Prize via Facebook)

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