African Impact Challenge 2023 for Innovators (up to $25,000)

Deadline: April 15, 2023

Applications for the African Impact Challenge 2023 are now open. The goal of the African Impact Challenge is to build the Africa we want to see, by investing in the continent’s early innovators. The African Impact Initiative enables innovators to build market-creating innovations, which tackle their country’s biggest challenges with technology.

Inspired by The Prosperity Paradox, it will be run in different African countries every year. Since launching, the challenge has trained over 500 early-stage African entrepreneurs and funded over 80 of them. They have been in Ghana (2020), Kenya (2021) and Rwanda (2022). Last year they also introduced a pan-African health entrepreneurship stream, which will run concurrently every year as they continue to expand. This year they are in South Africa.

Benefits

• Top performing teams will receive up to $25,000 in either grant funding or a simple agreement for future equity (SAFE) investment. They will also travel to Toronto for 3 months next summer, with all costs covered, to learn and expand their entrepreneurship network.

Eligibility

• Open to young Africans (under 39) who live in the countries of the given year’s challenge.
• Have 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.
• 2023 Stream 1: Ventures based in South Africa from any sector.
• 2023 Stream 2: Ventures across Africa that enable positive health outcomes.

Selection Criteria

• Your idea should address an identified problem/challenge in your country, by providing a comprehensive solution through a clearly defined job 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 or affordability.
• Preference will be given to innovative business models that are scalable.

Application

Click here to apply

For more information, see FAQ and visit African Impact Challenge.