If you are an African entrepreneur creating a solution to a health product distribution challenge in Africa, we invite you to apply for the 2023 cohort. You stand the chance of receiving 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 this round.Table of Content
Investing in Innovation Africa (i3) is a pan-African initiative for start-ups building the future of healthcare supply chains. Funded by the Bill & Melinda Gates Foundation, and sponsored by AmerisourceBergen, Merck Sharpe & Dohme (MSD), Microsoft and Chemonics, i3 is supporting the commercialization of 60 promising early- and growth-stage companies. The program connects African-led supply chain innovators to donors, industry, and government partners, to power start-ups’ growth and impact.... read more
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 be 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 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 includes over-the-counter medicines, prescription medicines, health care 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 top 10 will be pre-selected. Cohort will be harmonized across geographies, and the final 30 companies will be approved by the Steering Committee.
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 [email protected]
For more details, visit VC4A website