Deadline: March 25 2022
VivaTech, with support from the International Finance Corporation (IFC), launched the first edition of the AfricaTech Awards, a pan-African initiative developed to recognize and support the most innovative and impactful African startups across three key sectors – Climate Tech, Health Tech and FinTech.
Tech startups can provide much-needed solutions to pressing global challenges, promote inclusion, and foster sustainable development. However, despite increasing interest from investors, startups across the continent too often struggle to find the capital they need to scale their innovations. The AfricaTech Awards aim to help create new market opportunities for emerging African startups, catalyzing support and inspiring action from investors, policymakers, fellow entrepreneurs, and leading institutions in the tech space.
The Challenges
Climate Tech Challenge: Solutions that can reduce emissions, protect the environment, and help communities become more climate-resilient.
Health Tech Challenge: Solutions that can expand access to healthcare among underserved communities, reduce the cost of services, and boost innovation in the healthcare sector.
FinTech Challenge: Solutions that can expand access to financial services among underserved communities, promote financial inclusion and financial literacy, and improve the efficiency of the banking infrastructure.
Rewards for the Finalists
The top 9 startups (3 in each category) will receive:
- Take part in VivaTech
- Meet key players to scale your business
- Benefit from a strong visibility
- Join the event (flight, booth, and passes)
- Pitch on stage on the AfricaTech Lab
- Take part in the official AfricaTech Awards ceremony
Rewards for Winners
The category winners will receive:
- Climate Tech Winner: Introduction to the IFC Climate Tech Specialist and key industry players and Access to New Energy Nexus’ global clean energy ecosystem network and its local networks in Uganda and Nigeria
- Health Tech Winner: Introduction to the IFC Health Tech specialist and key industry players
- FinTech Winner: Introduction to IFC FinTech investment team and IFC partner VC funds
Selection Criteria
- Impact: Product/solution with proven results in addressing pressing issues affecting society and/or the environment
- Innovation: Originality and innovation level of the tech solution compared to existing alternatives (problem-solving approach, characteristics of the technology used, patented processes or components, etc.)
- Scalability: Market size and scalability potential of the startup (total addressable market, potential to expand to other markets, etc.)
- Team profile: Level of experience and size of the team (number of employees, level and diversity of expertise, entrepreneurship and/or academic background, etc.)
- Business model: Demonstrated traction and product-market fit (maturity of the startup, commercial traction, number of clients, annual global turnover growth, etc.)
Eligibility Criteria
- Startup based in Africa
- Having a product/solution addressed to the African market
- Having a scalable product/solution
- Must have raised a minimum of $200K in the capital but not more than $6M
- Must address one of the following themes: Climate Tech, Health Tech, or FinTech
