The 2023 Investing In Africa i3 Program for E-Health Startup

The Investing in Africa i3 Program is a three–year program planned to assist the development of e–health startups in Africa. The program gives entrepreneurs with access to mentorship, capital, and resources to help them develop and scale their businesses. The program is available to startups from all African countries and concentrates on the development of innovative e–health products and services that will enhance access to healthcare, lower healthcare costs, and enhance health outcomes. The program will also give mentorship and guidance from experienced entrepreneurs and industry experts in the e–health field and as well grant access to capital, including grants, loans, and equity investments, to support the development of e–health startups. Additionally, the program will provide access to resources, including networking events, workshops, and hackathons, to aid entrepreneurs develop their business ideas.

So if you are an African entrepreneur currently making a solution to a health product distribution challenge in Africa, Truesport.com  urges you to apply for the 2023 cohort and you can stand the chance of acquiring 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 in this round. Investing In Africa i3 Program would assist the development of an e–health ecosystem in Africa by linking entrepreneurs with investors, partners, and customers. The program will contain a series of regional events and workshops, aimed at connecting entrepreneurs with investors and partners. Additionally, the program will provide access to market intelligence, such as industry trends, customer insights, and competitive analysis, to help entrepreneurs develop their e–health products and services.

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Benefits

• 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 investments.
• Risk tolerance finance: I3 provides systematic grants of $50,000 to all participating startups for investments in commercialization and impact.
• 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.

Requirements

• Representative of the business must be a founder/co-founder, and at least 18 years old with a valid ID document.
• The company must be owned, led, or operated by an African(s). We define this as having an African nation 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. The organization does not need to be headquartered in Africa.
• Businesses 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 as defined below. Nascent/idea stage companies, or mature companies (e.g. mature incumbent distribution businesses) are not eligible.

EARLY STAGE 

You must have clearly defined your market, validated customer demand, developed a working prototype and product map, and begun to generate revenue, with a strong plan to scale and sustain growth

GROWTH STAGE 

You must have a strong, well-defined revenue model, sales, and operational capabilities. Your Products and service must be primed to scale, and customer acquisition costs must be declining. You must have evidence of customer acceptance of your products (reflected in sales volumes, beyond early adopters).

• Innovators must offer data-driven products or services focused on the distribution of health products, which include over-the-counter medicines, prescription medicines, healthcare consumables, medical devices, assistive health technologies, and the movement of medical waste. This includes but is not limited to companies that are building data-driven approaches to health product distribution including medicines, consumables, devices, and more; cold chain technology; track-and-trace; direct-to-consumer delivery of health products; online pharmacies; digital marketplaces for product resupply; vendor-managed inventory for health products; counterfeit drug detection; waste management solutions, and more. Business lines do not need to focus solely on health product distribution to be considered. We will also consider non-health businesses with documented plans to offer data-driven products or services focused on health product distribution in the short-term (2-3 months).
• 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.

Companies will be scored by Selection Committee, and the top 10 will be pre-selected. The cohort will be harmonized across geographies, and the final 30 companies will be approved by the Steering Committee.

• The company is offering a very compelling service
• The company is offering a unique product/service
• The company has a very high-potential leadership team
• The size of the target market is large
• Potential for growth is high
• The potential for impacts on product availability, quality, affordability, accessibility, and visibility is high
• Company is woman-led
• The company was founded in and operates in Francophone Africa

Method of Application

Applications must be made in English or French and submitted before the 26th of June, 2023. If you have concerns or challenges applying, please let us know via mail at aida.elkohen@innovationsinafrica.com

The 2023 Investing In Africa i3 Program For E-Health Startup