Deadline: June 15, 2018
The Innovate for Life Fund, the only health sector specific programme targeting African rooted start-ups is open for applications. The Innovate for Life Fund aims to invest in African health entrepreneurs to accelerate home-grown health solutions for the African market. They offer African health sector-specific support: knowledge, network and access to funding. This is combined with business coaching by an experienced fund management organization.
In 2018, the fund will offer a health specific 4 month accelerator embedding a maximum of six talented entrepreneurs. The accelerator will combine virtual and in-residence interactions at Amref Africa headquarters in Nairobi. The entrepreneurs will enjoy the support of Amref Health Africa’s facilities and their extensive health network in addition to tailored business coaching by Grassroots Business Fund. In January 2019, a maximum of three entrepreneurs will be invited to develop a partnership with Amref Health Africa, which will offer follow up support and joint outreach to investors both in Africa and worldwide.
Program Benefits
Accelerator:
Selected entrepreneurs will participate in a tailor-made three months accelerator programme, offering health specific knowledge, network and business coaching. The programme consists of: product/service review by experts, user group sessions, stakeholder sessions, site visits, piloting of products and services etc. Entrepreneurs will receive training and support on business skills such as setting up a legal, tax and administrative organisation.
- The opportunity to develop your proposition in a strategic partnership with Africa’s leading health organisation;
- A tailor-made, health sector specific training and mentoring programme divided in two phases.
- Phase I: 8 weeks, 6 entrepreneurs.
- Phase II: 4 weeks with the top 3 entrepreneurs.
- In a small group of a maximum of 6 entrepreneurs;
- Guidance of an experienced international fund management organisation;
- Mentorship and coaching by experienced health and enterprise professionals.
- Access to key African stakeholders in the health sector;
- Access to an international network of donors, investors and (corporate) partners;
- The programs will choose up to three of the most promising enterprises to enter into strategic partnership, which may include financial support and future
equity participation.
Access to finance and markets:
The Innovate for Life Fund supports innovative entrepreneurs towards follow up investments. To do this traditional (impact) investors and donors will be engaged from the start, via the Amref network of offices in Europe, Northern America and Canada, to follow them on their entrepreneurial journey and to invest when appropriate.
Eligibility
- They are looking for passionate entrepreneurs with an innovative product or service that is already in the market and aims to improve primary health care in Africa.
- The solution must have proven successful in a smaller setting through verifiable traction, which they will support to scale.
- To stimulate home-grown innovation, the Innovate for Life Fund targets entrepreneurs based in Sub Saharan Africa countries and/ or with origins from Sub Sahara Africa.
A health panel and selection committee will vet the applicants and their decision will be final.
Application
For more information, visit Innovate for Life Fund.
