About ADM
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[1] community to promote economic development in Sub-Saharan Africa by facilitating diaspora direct investment (DDI) in viable small and medium enterprises[2] (SMEs). Specifically, the ADM will catalyze job creation, income generation and the delivery of vital goods and services by providing matching grants to African diaspora members working in partnership with African-based enterprises and/or entrepreneurs. Sponsored by the United States Agency for International Development (USAID) and Western Union Company, the ADM has been launched in response to the diaspora's significant and growing contribution to Sub-Saharan Africa's development.
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. Following a rigorous two-round review and selection process, 10-20 winning businesses will be awarded matching grants of between $50,000 and $100,000 each[3]. Grants to winners will be matched by investments of diaspora members and their partners on a one to one basis through a combination of financial and in-kind contributions.
Proposals must be implemented in one of the following Sub-Saharan African countries where USAID has both on the ground presence and potential technical assistance programs for entrepreneurs: Angola, Burundi, Ethiopia, Ghana, Kenya, Liberia, Malawi, Mali, Mozambique, Namibia, Nigeria, Rwanda, Senegal, Sierra Leone, South Africa, Sudan, Tanzania, Uganda and Zambia.
Proposals will be selected through a rigorous, transparent review process to identify the best business ideas based on evaluation criteria including the quality of the business idea and the management, prospects for sustainability, results orientation and capacity to leverage diaspora resources. Finalists will be invited to a two-day award event in Washington, DC, where they will present their ideas to a panel of judges consisting of business experts and leaders from the diaspora community, USAID, Western Union, and other development institutions and private sector companies. Finalists are expected to cover travel costs to and in Washington, DC.
[1] The African Union defines diaspora as "people of African origin living outside the continent, irrespective of their citizenship and nationality and who are willing to contribute to the development of the continent and the building of the African Union."
[2] The International Financial Corporation (IFC) qualifies SMEs as meeting two of the following three indicators: (I) number of employees between 10 and 300, (ii) Total Assets between $100,000 and US$15 million; and (iii) Total Annual Sales of between US$100,000 and US$15 million.
[3] The ADM continues to accept partnerships from additional investors in the competition. The exact number of business to be supported remains subject to the accountability of funding.
