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Application Deadline: July 31st 2017
The only health sector specific programme targeting African rooted start-ups!
The Innovate for Life Fund will tackle Africa’s most daunting health challenges by supporting local entrepreneurs and investing in companies that develop innovative, home-grown solutions.
Health demands in Africa are growing rapidly due to the continent’s rapidly expanding population, which is expected to double to 2 billion by 2050. A new generation of African entrepreneurs has recognised the need to develop novel technological solutions but are faced with a lack of support for early-stage entrepreneurs.
The Innovate for Life Fund aims to invest in African health entrepreneurs to create home-grown health solutions for the African market
What
- The Innovate for Life Fund will start in 2017 with a health specific Accelerator and Entrepreneur in Residence programme, embedding a maximum of six talented entrepreneurs at the Amref Health Africa offices in September 2017. The Fund will offer entrepreneurs the support of Amref Health Africa’s facilities and their extensive health network.
- In January 2018, a maximum of three entrepreneurs will be invited to partner with Amref Health Africa, which will offer follow up support and joint outreach to investors both in Africa and worldwide.
Requirements:
- Innovate for Life Fund are looking for passionate entrepreneurs with an innovative product or service to improve primary health care in Africa. These entrepreneurs will need to convince the panellists on the sustainability and scalability of their business case. With the selected entrepreneurs, Amref Health Africa will enter into a mutual commitment and long-term relationship. This may concerns equity share.
- To stimulate home-grown innovation, the Innovate for Life Fund targets entrepreneurs based in Sub Sahara Africa countries and/ or with Sub Sahara African origin. A health panel and selection committee will vet the applicants and their decision wil be final.
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.
Entrepreneur in Residence
For a period of 12 months (incl. accelerator programme) the participating entrepreneurs can make use of office space at the Amref Health Africa’s premises in Nairobi. This is a vibrant place where Amref staff, health specialists, health professionals, governmental authorities and international donors meet. It will enable the entrepreneur to access Amref’s knowledge and networks.
- 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;
- Access to key African stakeholders in the health sector;
- Access to an international network of donors, investors and (corporate) partners;
- Long term strategic partnership;
- Equity funding of maximum $10.000
Timeline:
| Deadline for applications: | 31st of July |
|---|---|
| Selection process: | August 2017 |
| Accelerator programme: | September – November 2017 |
For More Information:
Visit the Official Webpage of the Innovate for Life Fund 2017
[…] Innovate for Life Fund is 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 we 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. […]