The total purse for cash prizes is $1 million.
The African News Innovation Challenge is designed to find and nurture ideas that have the potential to transform journalism and the media industry.
Winners will therefore receive more than just cash grants. They will also receive a combination of technical advice and business mentorship from industry experts, as well as support for marketing their innovations to a wider African and world audience.
Once winners have produced working prototypes and proof-of-concept for their ideas, they will be given the opportunity to showcase their innovations to venture capitalist funds for possible additional investment.
Winners will receive cash grants of between $12,500 and $100,000, depending on the potential impact and the operational requirements of the project. Each project’s operational requirements will be spelled out in a detailed budget that shortlisted finalists will be required to file in the 2nd phase of judging. Finalists will attend a workshop, in Zanzibar, to help them develop this budget and a related business plan.
The World Association of Newspapers & News Producers (WAN-IFRA) will provide winners with one-on-one mentorship and technical advice from some of the world’s leading media strategists. WAN-IFRA will also host an intensive business development workshop for finalists, to help them refine and strengthen their proposals.
The ANIC grants that winners receive will function as seed capital for innovators to kickstart their projects. Once they have produced working prototypes with some degree of proof-of-concept, winners will be given the opportunity to pitch their projects to the Media Development Loan Fund’s new digital venture fund for consideration for possible additional investment.