Helping Africa’s Early Innovators Build Global Businesses
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. Then we help them scale these businesses, from Africa to the world
Inspired by The Prosperity Paradox, AIC is run in different African countries every year. Since launching in 2020, we 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), South Africa (2023) and Botswana (2024). In 2022 we also launched our Pan-African Health Entrepreneurship Stream, which now runs annually with the support of Mastercard Foundation.
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 eligible costs covered, to learn and expand their entrepreneurship network. Our target is to successfully kick-start innovations aligned with our selection criteria across the continent. We do this by helping participants to (re)validate their solutions, build or scale market-creating innovations, and penetrate their target geographies.
WHAT YOU CAN EXPECT
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.
Country Innovation Stream: Scalable ventures based in the country of focus from any sector.
Community Impact Stream: Social enterprises or nonprofits based in the country of focus.
Health Entrepreneurship Stream: Pan-African ventures enabling health outcomes.
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.
THE 2023 african impact CHALLENGE
In 2023, we expanded to South Africa for our Country Innovation and Community Impact Streams. We also ran the Health Entrepreneurship Stream across Africa. From over 2000 applications, 895 teams were trained in our pre-incubation. Then we selected the top performing 90 founders building 36 ventures for funding and incubation. You can learn more by clicking below.
THE 2022 african impact CHALLENGE
In 2022, we expanded to Rwanda for the Country Innovation and Community Impact Streams. We also launched our Pan-African Health Entrepreneurship Stream. From over 1000 applications, 500+ entrepreneurs were trained in our pre-incubation. Then we selected the top performing 46 founders building 22 ventures for funding and incubation. You can learn more clicking below.
THE 2021 african impact CHALLENGE
In 2021, we expanded to Kenya with the introduction of our country innovation and community impact streams. From over 500 applications, 300+ entrepreneurs were trained with capacity building by launching our pre-incubation. Then we selected the top performing 30 founders building 8 ventures for funding and incubation. You can learn more below.
THE 2020 african impact CHALLENGE
In 2020 we piloted the challenge in Ghana. From 92 applications, we supported 11 first time founders with incubation and funding to bring their ideas to life. You can learn more below.
SOME OF Our pOrtfolio companies
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