adminDrawing inspiration from The Prosperity Paradox, the African Impact Challenge (AIC) is organized across diverse African nations annually. In 2022, AIC initiated the Pan-African Health Entrepreneurship Stream, which has since become an annual fixture, thanks to the backing of the Mastercard Foundation.
Ventures that fulfill the stipulated criteria stand a chance to be chosen for participation in a comprehensive training and mentorship initiative. Each top-performing venture selected stands to receive funding of up to $25,000 CAD.
Furthermore, the leading teams will embark on a three-month journey to Toronto, Canada, with all expenses covered, aimed at broadening their entrepreneurial horizons and networks.
Administered by the African Impact Initiative in collaboration with the University of Toronto Entrepreneurship Accelerators, comprising the Health Innovation Hub (H2i), The Bridge, and I-Cube, the HENT Challenge seeks to nurture innovation and entrepreneurship in the healthcare sector throughout Africa.
Supported by both the Mastercard Foundation and the African Higher Education Health Collaborative, eligibility for participation in the initiative includes:
– Being a young African aged under 39 residing in the countries selected for the challenge of the given year.
– Having a passion for pursuing entrepreneurship focused on making a positive impact.
– Demonstrating a commitment to addressing critical challenges through the use of technology.
– Being fully dedicated to the development of the venture on a full-time basis.
For the 2024 Health Entrepreneurship Stream, the focus is on Pan-African ventures aimed at improving health outcomes. Additionally, there are opportunities for participation in the 2024 Country Innovation Stream, which targets scalable ventures based in Botswana across various sectors, and the 2024 Community Impact Stream, which is open to social enterprises or nonprofits located in Botswana.
Selection Criteria:
– Your venture should address a significant problem or challenge in your country, offering a comprehensive solution with clearly defined objectives to be accomplished.
– Your solution should incorporate technology either in its development process or in its utilization.
– Preference will be given to solutions that target non-consumption, aiming to increase adoption, accessibility, and affordability.
– Preference will also be given to innovative business models that have the potential for scalability.
Benefits:
– The top-performing teams identified during the pre-incubation phase will undergo interviews and may proceed to the incubation stage. Incubation is scheduled to commence in July, during which selected teams will receive funding and resources of up to $25,000 CAD each to develop their ventures. This funding is intended to cover pre-seed funding and technology-related expenses.
– Additionally, a representative from each venture will have the opportunity to visit the University of Toronto for three months, with all travel and living expenses covered. This visit aims to provide exposure to Canada’s leading entrepreneurial and investment ecosystem, facilitating further development of the venture.
Deadline: April 15, 2024
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