African Impact Challenge 2024 for African Entrepreneurs

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Applications are currently open for African Impact Challenge 2024. Inspired by The Prosperity Paradox, African Impact Challenge is run in different African countries every year. Since launching in 2020, They have built the capacity of 1000+ early-stage African entrepreneurs and funded over 100 of them. This has happened in Ghana (2020), Kenya (2021), Rwanda (2022) and South Africa (2023). In 2022 they also launched our Pan-African Health Entrepreneurship Stream, which now runs annually with the support of Mastercard Foundation.

The goal of the African Impact Challenge (AIC) 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.

The challenge starts with a self-paced Pre-incubation phase beginning in April 2024, which leads to the selection of top-performing ventures for funding and incubation.

Each top-performing venture will be interviewed and allowed to choose between a non-dilutive grant or a simple agreement of future equity investment. They will also have a chance to build in Toronto during summer 2025.

African Impact Challenge Benefits

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

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.
2024 Health Entrepreneurship Stream: Pan-African ventures enabling health outcomes.
2024 Country Innovation Stream: Scalable ventures based in Botswana from any sector.
2024 Community Impact Stream: Social enterprises or nonprofits based in Botswana.

Selection Criteria

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.

How to Apply for African Impact Challenge

Click Here to apply

For more information Visit: African Impact Challenge

Applications Close on 15th April 2024

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