VivaTech, with support from the International Finance Corporation (IFC), launched the first edition of the AfricaTech Awards, a pan-African initiative developed to recognize and support the most innovative and impactful African startups across three key sectors – Climate Tech, Health Tech, and FinTech.
Tech startups can provide much-needed solutions to pressing global challenges, promote inclusion, and foster sustainable development. However, despite increasing interest from investors, startups across the continent too often struggle to find the capital they need to scale their innovations. The VivaTech AfricaTech Awards aim to help create new market opportunities for emerging African startups, catalyzing support and inspiring action from investors, policymakers, fellow entrepreneurs, and leading institutions in the tech space.
Eligibility Criteria for the VivaTech AfricaTech Awards
- Startup based in Africa
- Having a product/solution addressed to the African market
- Having a scalable product/solution
- Must have raised a minimum of $200K in capital but not more than $6M
- Must address one of the following themes: Climate Tech, Health Tech or FinTech
The Challenges
Climate Tech Challenge:Â Solutions that can reduce emissions, protect the environment, and help communities become more climate-resilient.
Health Tech Challenge:Â Solutions that can expand access to healthcare among underserved communities, reduce the cost of services, and boost innovation in the healthcare sector.
FinTech Challenge:Â Solutions that can expand access to financial services among underserved communities, promote financial inclusion and financial literacy, and improve the efficiency of the banking infrastructure.
Rewards for the Finalists
The top 9 startups (3 in each category) will receive:
- Take part in VivaTech
- Meet key players to scale your business
- Benefit from a strong visibility
- Get highlighted in the VivaTech program
- Get featured on social media and different media outlets
Rewards for Winners
The category winners will receive:
Climate Tech Winner
Introduction to the IFC Health Tech specialist and key industry players.
Introduction to IFC FinTech investment team and IFC partner VC funds.
Selection Criteria for the VivaTech AfricaTech Awards
Impact: Product/solution with proven results in addressing pressing issues affecting society and/or the environment
Innovation: Originality and innovation level of the tech solution compared to existing alternatives (problem-solving approach, characteristics of the technology used, patented processes or components, etc.)
Scalability: Market size and scalability potential of the startup (total addressable market, potential to expand to other markets, etc.)
Team profile:Â Level of experience and size of the team (number of employees, level and diversity of expertise, entrepreneurship and/or academic background, etc.)
Business model: Demonstrated traction and product-market fit (maturity of the startup, commercial traction, number of clients, annual global turnover growth, etc.)
Timeline
- 7th March: Challenges Opening
- 25th March: End of the challenge
- 2nd May: Announcement of the Top 45 startups (15 per category)
- 6th May: Announcement of the 9 finalists (3 in each category)
- 15th-18th June: VivaTech Event AfricaTech Awards Ceremony
About VivaTech
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We act as a powerful global catalyst for digital transformation and startup growth. Every year, VivaTech brings together in Paris and online the greatest business leaders, startups, investors, researchers and innovators to ignite positive change in business and for society. The 6th edition of VivaTech AfricaTech Awards Ceremony is taking place 15-18 June 2022.
For more information about the event, check this link.
To read the rules and regulations, check this link.
[…] Each of these startups within the categories was accessed on the following metrics: […]