Early-stage African entrepreneurs are eligible for the 2023 African Impact Challenge ($25,000 in financing)

DEADLINE: April 15, 2023 

It will be presented annually in several African nations, drawing inspiration from The Prosperity Paradox. Since it began, the challenge has mentored and supported more than 500 early-stage African entrepreneurs.

African Impact Initiative is now taking place in South Africa. A simple agreement for future equity (SAFE) investment or grant money of up to $25,000 will be given to top-performing teams. In order to study and develop their network of entrepreneurs, they will also travel to Toronto for three months next summer. All expenses will be paid. The 2023 challenge registration deadline is April 15.

The goal is to successfully launch technologies across the continent that are in line with their selection criteria. African Impact Initiative accomplishes this by giving early-stage startups the funding, tools, and direction they need to (re)start from scratch and create marketable solutions.

Eligibility requirements
young Africans (under 39) who reside in the nations participating in the challenge for the given year.
an interest in using impact-focused entrepreneurship as a career.
a desire to use technology to tackle important issues.
The venture's founding team's full-time dedication.
2023 Stream 1: South African-based businesses in any industry.
2023 Stream 2: African-based initiatives that promote healthy outcomes.

Stream 1: South African-based sector-neutral businesses. This is the stream for businesses who are just getting started and are developing solutions for any industry within the Challenge's focal nation. For the sector-neutral stream, South Africa is the focal nation this year.

Stream 2: Projects aimed at enhancing the health care system in Africa. This is the stream for businesses and startups developing strategies for improving health outcomes in any African nation. Across this stream, startups and founders may be headquartered anywhere across the continent.

Financial Details
Up to 10,000 CAD Non-Dilutive Grant
Simple Future Equity Agreement, up to 25,000 Canadian Dollars
Pre-incubation lasts between 6 and 8 weeks.

What to anticipate
Capacity Development.
The MVP Capital.
Market enlargement.

Selection Standards
Your proposal should address a recognized issue or concern in your nation by offering a thorough solution through a precisely defined task to be carried out.
You should use or create your solution with the aid of technology.
Solutions that aim to reduce non-consumption by boosting adoption, accessibility, or affordability will be given preference.
Innovative, scalable business models will be given preference.


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