Applications for the VivaTech/IFC AfricaTech Awards 2022 are now open. 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.
- 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.
Prizes from IFC AfricaTech Awards
The category winners will receive:
- Climate Tech Winner
- Introduction to the IFC Climate Tech Specialist and key industry players
- 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
Eligibility for IFC AfricaTech Awards
- Open to 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 capital but not more than $6M;
- Must address one of the following themes: Climate Tech, Health Tech or FinTech.
Selection Criteria for IFC AfricaTech Awards
- 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.)
Click here to apply
Lastly, It is important to visit the official website link found below to access the application form.
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