Now Open: African Impact Challenge for early-stage African entrepreneurs ($25,000 funding)

The African Impact Challenge for early-stage African entrepreneurs, inspired by The Prosperity Paradox, organizes its program in various African countries each year. Since its inception in 2020, we have provided training and support to over 1000 early-stage African entrepreneurs, and have financially backed more than 100 of them. This initiative has been carried out in Ghana (2020), Kenya (2021), Rwanda (2022), and South Africa (2023). In 2022, we introduced the Pan-African Health Entrepreneurship Stream, which now operates annually with the generous support of the Mastercard Foundation.

The most successful teams are eligible to receive up to $25,000 in grant funding or a Simple Agreement for Future Equity (SAFE) investment. Additionally, they are invited to travel to Toronto the following summer, with all expenses covered, to enhance their knowledge and expand their entrepreneurial network. Our primary objective is to effectively launch innovative projects that align with our selection criteria across the entire continent. We achieve this by assisting participants in starting anew, building, or expanding market-creating innovations.

ELIGIBILITY for the African Impact Challenge for early-stage African entrepreneurs

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

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

• A desire to solve critical problems in Africa with the use technology.

• Full time commitment from all members of 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 sectors.

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

SELECTION CRITERIA for the African Impact Challenge for early-stage African entrepreneurs

• 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.

Application for the African Impact Challenge for early-stage African entrepreneurs

• APPLY FOR THE 2024 AFRICAN IMPACT CHALLENGE
• Applications Close on 15th April 2024