Inspired by The Prosperity Paradox, African impact Challenge (AIC) is run in different African countries every year. Since launching in 2020, They have built the capacity of 1000+ early-stage African entrepreneurs and funded over 100 of them. This has happened in Ghana (2020), Kenya (2021), Rwanda (2022) and South Africa (2023). In 2022 we also launched our Pan-African Health Entrepreneurship Stream, which now runs annually with the support of Mastercard Foundation.

The challenge starts with a self-paced Pre-incubation phase beginning in April 2024, which leads to the selection of top-performing ventures for funding and incubation. Each top-performing venture will be interviewed and allowed to choose between a non-dilutive grant or a simple agreement of future equity investment. They will also have a chance to build in Toronto during summer 2025.

Benefits

• Top performing teams receive up to $25,000 in either grant funding or a simple agreement for future equity (SAFE) investment.
• They also travel to Toronto the following summer, with all costs covered, to learn and expand their entrepreneurship network.

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Eligibility of African Impact Challenge

• Young Africans (under 39) who live in the countries of the given year’s challenge.

• A desire to pursue impact-focused entrepreneurship as a means of livelihood.

• A desire to solve critical problems with technology.

• Full time commitment from the team building the venture.

• 2024 Health Entrepreneurship Stream: Pan-African ventures enabling health outcomes.

• 2024 Country Innovation Stream: Scalable ventures based in Botswana from any sector.

• 2024 Community Impact Stream: Social enterprises or nonprofits based in Botswana.

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Selection Criteria for African Impact Challenge

• You should be solving a pressing problem/challenge in your country, by providing a comprehensive solution with clearly defined job(s) to be done.

• Your solution should be technology enabled in its creation and/or use.

• Preference will be given to solutions that target non-consumption, by increasing adoption, accessibility and affordability.

• Preference will be given to innovative business models that are scalable.