Investing in Innovation Africa (i3) has announced the call for applications for its third cohort, offering grants of up to $225,000 to support African health tech startups. The program aims to enhance the commercialization and impact of innovative solutions that improve healthcare delivery across the continent.
Program Overview:
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Objective: i3 seeks to catalyze the development of early- and growth-stage ventures that build data-driven products or services focused on the distribution of health products in Africa.
- Support Provided: Selected companies will receive three types of benefits:
- Access to Markets: Connecting innovators to opportunities for partnerships, contracts, and further investment.
- Risk-Tolerant Finance: Early-stage startups are eligible for up to $50,000 in grant funding, while growth-stage companies can receive up to $225,000.
- Investment Readiness Support: Guidance from innovation experts, including CCHub, Startupbootcamp AfriTech, IMPACT Lab, and Villgro Africa.
Eligibility Criteria:
- African Ownership & Focus: Companies must be African-owned, led, or operated and focused on serving African markets.
- Tech-Enabled & Data-Driven: Innovators must leverage technology and data to improve healthcare delivery or product distribution.
- Stage-Specific Innovators:
- Early-Stage: Companies in the early stages of development with a proven concept.
- Growth Stage: Companies with demonstrated traction and scaling potential.
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Social Impact: Innovations should enhance the quality, availability, affordability, accessibility, or visibility of healthcare products or services.
Application Timeline:
- Applications Open: January 27, 2025
- Deadline for Questions: February 10, 2025
- Interactive Q&A Session: February 21, 2025
- Applications Close: February 28, 2025
- Due Diligence Documents Requested: March 14, 2025
- Cohort Announcement: April 30, 2025
Interested applicants are encouraged to apply through the official i3 website. This initiative represents a significant opportunity for African health tech innovators to scale their solutions and contribute to improved healthcare outcomes across the continent.
