$2M Milken-Motsepe Prize Seeks AI-Driven Innovations

A new $2 million equity-free prize has been launched to accelerate the development of artificial intelligence (AI) and smart manufacturing solutions that address Africa’s industrial challenges.

The Milken-Motsepe Prize in AI and Manufacturing unveiled at the 2025 Milken Institute Global Conference in Los Angeles, is backed by South African billionaire Dr. Patrice Motsepe and the Milken Institute.

This marks the fourth edition of the Milken-Motsepe innovation prize series, which has previously supported African-led solutions in agritech, fintech, and renewable energy. The latest prize is the most ambitious yet, focusing on leveraging AI to localize production, strengthen supply chains, and create sustainable, high-quality industrial jobs across the continent.

“We’re excited to see what bold entrepreneurs are doing for the African manufacturing sector to harness the power of AI and other advanced technologies to improve the supply chain in Africa,” said Dr. Emily Musil, Managing Director of Environmental and Social Innovation at the Milken Institute.

The prize comes at a time when Africa, despite accounting for nearly 18% of the world’s population, contributes less than 2% of global manufacturing output. In countries like South Africa, the need for industrial renewal is urgent. Manufacturing recently emerged as a major drag on the country’s economic growth, with GDP increasing by just 0.1% in Q1 2025, according to Statistics South Africa.

The organizers are seeking innovative solutions that apply advanced technologies to optimise production, reduce waste, localise supply chains, broaden access to essential goods, and create jobs while unlocking export opportunities.

Applications for the competition are open globally until July 31, 2025.