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. We offer African health sector-specific support: knowledge, network and access to funding. This is combined with business coaching by an experienced fund management organisation.
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.
Who are we looking for?
We 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 Saharan Africa countries and/ or with origins from Sub Sahara Africa. A health panel and selection committee will vet the applicants and their decision will be final.
What do we offer?
- The opportunity to develop your proposition in a strategic partnership with Africa’s leading health organization;
- A tailor-made, health sector specific training and mentoring program divided in two phases. Phase I: 8 weeks, 6 entrepreneurs. Phase II: 4 weeks with the top 3 entrepreneurs.
- In a small group of maximum 6 entrepreneurs;
- Guidance of an experienced, international fund management organization;
- 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
Access to finance and markets
The Innovate for Life Fund supports innovative entrepreneurs towards follow up investments. To do this traditional (impact) investors and donors will be engaged from the start, via the Amref network of offices in Europe, Northern America and Canada, to follow them on their entrepreneurial journey and to invest when appropriate.
Deadline for applications: 31st of July
Selection process: August 2017
Accelerator programme: September – November 2017