If you are an African entrepreneur creating a solution to a health product distribution challenge in Africa, we invite you to apply for the 2022 cohort. You stand the chance of receiving a $50,000 grant as well as access to leading donors, industry and institutional players who will support introductions to customers. Up to 30 companies will be selected this round.
COMPANIES IN THE I3 COHORT WILL BENEFIT FROM 3 OFFERINGS OVER A 12 MONTH PERIOD:
- ACCESS TO MARKETS: I3 connects innovators to leading local and international industry players as well as to financing, donors, and governments – in an attempt to help companies establish partnerships, pilot projects, contracts and investment.
2. RISK-TOLERANT FINANCE: I3 provides systematic grants of $50,000 to all participating startups for investments in commercialization and impact.
3. INVESTMENT READINESS SUPPORT: i3 provides participating startups with tailored investment readiness support, delivered by leading innovation experts at CCHub, Startupbootcamp AfriTech, Villgro Africa and IMPACT Lab.
TO BE ELIGIBLE TO APPLY, STARTUPS MUST FULFILL THE FOLLOWING CRITERIA
Representative of the business must be a founder / co-founder, and at least 18 years old with a valid ID document.
Company must be owned, led or operated by an African(s). We define this as having an African national with long-term control and management of the business, an equity stake and an active role in both strategic and day-to-day decision making. Organization does not need to be headquartered in Africa.
Business must have a legal presence on the African continent.
Business offerings must be focused on serving the needs of African customers
Business must be in the early or growth stage. Nascent/idea stage companies, or mature companies (e.g. mature incumbent distribution businesses) are not be eligible.
Innovators must offer data-driven products or services focused on the distribution of health products, which includes over-the-counter medicines, prescription medicines, health care consumables, medical devices, assistive health technologies, and the movement of medical waste
Nonprofits, consultancies, intermediaries, and consortiums are not eligible.
You must show good management and governance. We are looking for efficient use of funds and a strong plan to generate further income and attract additional investments. Participants must have sustainability embedded within plans and practices.
Company serves Africans
Company is owned, led, operated by Africans
Company is in Early or Growth stage
Company is offering services in health product distribution or plans to offer services in the short term (2-3 months)
Company business model demonstrates improvements in one or more of the following public health impacts: quality, availability, affordability, accessibility, visibility of key health products in Africa
Application Deadline – August 14th, 2022
Applications must be made in English or French and submitted before the 14th of August, 2022. If you have concerns or challenges applying, please let us know via mail at [email protected]
For more information visit Investing in Innovation Africa