Africa Impact Challenge 2023 for Early-stage African Entrepreneurs
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. We’ve been in Ghana (2020), Kenya (2021) and Rwanda (2022). Last year we also introduced a pan-African health entrepreneurship stream, which will run concurrently every year as we continue to expand.
This year we are in South Africa. 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. Registration for the 2023 challenge closes on April 15th.
Our target is to successfully kick-start innovations aligned with our selection criteria across the continent. We do this by providing the capital, resources and guidance necessary for early founders to (re)start from scratch, and build viable solutions in the market.
Helping Africa’s brightest minds go from idea to MVP to market
The goal of the African Impact Challenge is to build the Africa we want to see, by investing in our continent’s early innovators. We’ enable them 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. We’ve been in Ghana (2020), Kenya (2021) and Rwanda (2022). Last year we also introduced a pan-African health entrepreneurship stream, which will run concurrently every year as we continue to expand.
This year we are in South Africa. 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. Registration for the 2023 challenge closes on April 15th.
Our target is to successfully kick-start innovations aligned with our selection criteria across the continent. We do this by providing the capital, resources and guidance necessary for early founders to (re)start from scratch, and build viable solutions in the market.
WHAT YOU CAN EXPECT
Capacity Building
Incubation
MVP Capital
Mentorship
Market Penetration
ELIGIBILITY
- Young Africans (under 39) who live in the countries of the given year’s challenge.
- 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.
