Applications are now open for the 2024 African Impact Initiative Health Entrepreneurship Challenge. This initiative, inspired by The Prosperity Paradox, runs annually in different African countries. In 2022, AIC launched the Pan-African Health Entrepreneurship Stream, supported by the Mastercard Foundation.
Eligible teams will receive comprehensive training and mentorship, along with funding of up to $25,000 CAD for each top-performing venture. Top teams will also travel to Toronto, Canada, for a fully-funded 3-month program to expand their entrepreneurship network. The HENT Challenge is organized by the African Impact Initiative and the University of Toronto Entrepreneurship Accelerators, supported by the Mastercard Foundation and the African Higher Education Health Collaborative.
The challenge invites early-stage entrepreneurs and startup teams to submit their innovative healthcare projects for consideration. Projects should demonstrate potential for significant impact in addressing pressing health issues in Africa, such as access to healthcare services, disease prevention, maternal and child health, and health technology innovation.
Deadline
Applications for the African Impact Initiative Health Entrepreneurship Challenge will close on April 15, 2024. The application deadline is approaching.
Benefits
The benefits are as follows:
- The best teams from pre-incubation will be interviewed and chosen to enter the incubation phase, starting in July. These selected teams will receive funding and resources of up to $25,000 CAD each to develop their ventures. This funding is for early-stage funding and technology needs.
- Additionally, one member from each team will travel to the University of Toronto for three months, with travel and living expenses covered, to learn from Canada’s top entrepreneurial and investment ecosystem while growing their venture.
Eligibility Criteria
The eligibility criteria includes:
- Young Africans (under 39) residing in the countries participating in the challenge.
- Passion for impact-focused entrepreneurship as a livelihood.
- Aim to address critical issues with technology.
- Full-time commitment from the venture-building team.
Streams for 2024:
- Health Entrepreneurship Stream: Pan-African ventures focusing on health outcomes.
- Country Innovation Stream: Scalable ventures from Botswana in any sector.
- Community Impact Stream: Social enterprises or nonprofits based in Botswana.
Selection Criteria for African Impact Initiative Health Entrepreneurship Challenge
The selection criteria include:
- Solve a pressing problem in your country with a comprehensive solution that addresses specific job(s) to be done.
- Utilize technology in creating or implementing your solution.
- Prioritize solutions that increase adoption, accessibility, and affordability, targeting non-consumption.
- Showcase innovative and scalable business models for preference.
You can apply through this website: [https://africanimpactintiative.typeform.com/to/tGcs8SAL?typeform-source=www.africanimpact.ca]
Tips for Successful Application for African Impact Initiative Health Entrepreneurship Challenge
- Clearly articulate the problem your healthcare innovation aims to solve and how it addresses specific challenges in Africa.
- Demonstrate the feasibility and scalability of your project, including potential for growth and sustainability.
- Highlight the unique value proposition of your solution and why it stands out from existing approaches or competitors.
- Showcase the qualifications and experience of your team members, emphasizing their ability to execute the project successfully.
- Provide realistic and well-supported financial projections, showing a clear path to profitability and sustainability.
Conclusion:
The African Impact Initiative Health Entrepreneurship Challenge provides a great platform for African entrepreneurs to showcase innovative solutions, gain support and funding, and impact healthcare outcomes continent-wide. Applicants should review guidelines carefully and submit projects before the deadline for consideration.
FAQs
Can I apply with an idea-stage project?
Yes, projects at various stages, including ideation, are eligible. However, applicants must demonstrate a clear vision and feasibility of their solution.
Is there a limit to the number of team members?
While there’s no specific limit, all team members should contribute relevant skills and expertise to the project.
What types of healthcare projects are eligible?
Projects addressing various healthcare challenges in Africa qualify, such as medical devices, telemedicine, health education, preventive healthcare, and infrastructure improvement.
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