You are encouraged to apply for the Investing in Africa i3 Program for E-health Startup if you are an African entrepreneur developing a solution to an issue with the distribution of health products in Africa. You have a chance of winning a $50,000 award as well as connections to influential industry, institutional, and donor players who can help with client introductions. This round will choose up to 30 firms.
- Targets: African Entrepreneurs
- Organization: VC4A (Venture Capital for Africa)
- Gender: Men and Women
- Number of Awards: Up to 30.
- Application Deadline: 26th of June 2023.
Goal and Advantages of Investing In Africa i3 Program for E-health Startup
- Access to markets: In an effort to assist businesses in establishing collaborations, pilot projects, contracts, and investments, I3 links innovators to top local and worldwide industry leaders as well as to funding, donors, and governments.
- Finance with a high risk tolerance: I3 regularly awards $50,000 grants to all participating firms for investments in commercialization and impact.
- Help for investment preparedness: Leading innovation professionals from CCHub, Startupbootcamp AfriTech, Villgro Africa, and IMPACT Lab give customized investment readiness help to participating entrepreneurs as part of i3.
Qualification Standards for the Investing In Africa i3 Program for E-health Startup
- The representative of the company must be a founder or co-founder, at least 18 years old, and in possession of a valid photo ID.
- African(s) must own, run, or be in leadership of the company. A person from Africa must have long-term management of the company, an equity stake, and a direct role in both strategic and operational decision-making. Organization’s headquarters do not have to be in Africa.
- A legal presence for business is required on the continent of Africa.
- The demands of African clients must be the primary emphasis of business offers.
- The business must be in its initial stages or be growing, as described below. organizations in the startup or idea stage as well as mature organizations (such as established incumbent distribution businesses) are not eligible.
EARLY STAGE –
You must have established a strong plan to scale and sustain growth along with a well-defined market, validated client demand, functional prototype, and product roadmap.
GROWTH STAGE –
You must possess a potent, well defined revenue model as well as good operational and sales talents. Customer acquisition costs must be decreasing, and your products and services must be ready to scale. You must have proof that customers accept your items (in the form of sales quantities outside of early adopters).
- The distribution of health products, such as over-the-counter medications, prescription medications, health care consumables, medical devices, assistive health technologies, and the mobility of medical waste, must be the focus of data-driven products or services offered by innovators. This comprises, but is not restricted to, businesses developing data-driven approaches to the distribution of health products, such as medications, 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. Distribution of health products is not a requirement for business lines to be taken into consideration. The organization will also take into account non-health enterprises that have outlined ambitions to provide data-driven goods or services with a short-term (2–3 month) distribution focus.
- Consortiums, intermediaries, consultancies, and nonprofit organizations are not permitted.
- You must exhibit sound management and leadership. They are looking for a good plan to increase revenue and draw in more investments, as well as the effective utilization of cash. Plans and practices must incorporate sustainability for participants.
Selection Process and Criteria
The top 10 companies will be pre-selected after receiving scores from the selection committee. The final 30 companies in the cohort will be approved by the steering committee when it harmonizes the cohort across geographical boundaries.
- The company is providing a really attractive service.
- The business is providing a distinctive good or service.
- Company’s executive staff is exceptionally talented.
- The target market is substantial.
- Growth potential is considerable.
- There is a strong likelihood that changes will affect a product’s accessibility, cost, and visibility.
- The business was established in and is active throughout Francophone Africa.
Also Read: 5 Best HR Software for Small Businesses
How to Apply
Are you capable and interested? To apply, visit VC4A at vc4a.com.
Applications must be submitted in either English or French by June 26, 2023.
Frequently Asked Questions
Who is VC4A’s founder?
Co-founder and CEO Paul Chris Mwale is enthusiastic about clean energy and technologies. He has a degree in renewable energy technologies.
What exactly does VC4A mean?
The acronym for this is "Venture Capital for Africa".
What is the reality of networking for business owners?
Entrepreneurs can expand their consumer base and find new clients via networking. Entrepreneurs can get helpful recommendations and word-of-mouth advertising by cultivating relationships with peers and industry leaders.
Which app is utilized for networking on the job?
LinkedIn. LinkedIn, the largest professional networking site in the world, is a fantastic method to meet people in your industry and expand your network. You have access to a huge network of prospective business connections thanks to LinkedIn, which has more than 800 million members scattered over 200 countries.
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