FREQUENTLY ASKED QUESTIONS
What are the funding options offered to Startups by the African Impact Challenge?
Non Dilutive Grant - up to 10,000 CAD
Simple Agreement for Future Equity - up to 25,000 CAD
What does the Sector Agnostic stream mean?
This is the stream for startups / ventures building solutions in any industrial sector in the country of focus for that year’s Challenge
This year the country of focus is South Africa for the sector agnostic stream
What does the Pan-African health entrepreneurship stream mean?
This is the stream for startups / ventures building solutions in creating positive health outcomes in any African country
Startups and founders in this stream can be based anywhere on the continent
What is the Community Impact stream?
This is a stream specifically for social enterprises, community based organisations, community projects, non-profits that are focused on creating a solution for their communities biggest challenges
Teams in this stream can only receive a grant
What happens after I complete my registration and submit?
You will receive an email with next steps shortly before the deadline. You can follow our social media to stay updated
What is Pre-Incubation?
This is our initial challenge phase, where you formulate (or re-validate) the fundamentals of the business / idea you are building
This is done through self-paced deliverables that will be assessed, including a 5 Minute recorded video pitch
Your deliverables will be evaluated with final results shared after completion. The top scoring teams will then be interviewed for funding and incubation
When does Pre-Incubation begin?
Mid-April 2023, after submissions close
How long does Pre-Incubation last?
6 - 8 Weeks
What do I need for Pre-Incubation?
A computer with access to the internet
Does my venture need to be incorporated to apply?
No
Do you consider ventures with solo founders?
Yes
Who can I contact in case I need any help, clarification on the program or any technical issues?
Coach@africanimpactinitiative.com
How much time should a venture dedicate to the program per week during incubation?
3 - 4 hours
How long is incubation? And When does it start?
12 Weeks: July - October 2023
What happens if my team is not selected for incubation?
You still join our AIC community, with relevant opportunities to help you along your entrepreneurial journey