VivaTech/IFC AfricaTech Awards 2022

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The VivaTech/IFC AfricaTech Awards 2022 are now accepting applications.

VivaTech 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 – with support from the International Finance Corporation (IFC).

Tech businesses have the potential to address major global issues, promote inclusivity, and promote long-term growth. Despite growing investor interest, however, businesses across the continent are still struggling to raise the funds they need to commercialize their discoveries. The AfricaTech Awards seek to assist growing African firms to find new market possibilities by igniting support and encouraging action from investors, politicians, other entrepreneurs, and major digital institutions.

Challenges:

Climate Tech Challenge: Solutions that can help communities become more climate-resilient by reducing emissions, protecting the environment, and reducing pollution.

Health Tech Challenge: Solutions that can improve access to healthcare for underprivileged areas, lower service costs, and enhance healthcare innovation.

FinTech Challenge: Solutions that can increase marginalized areas’ access to financial services, promote financial inclusion and financial literacy, and enhance banking infrastructure efficiency.

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Prizes

The category winners will get the following prizes:

Climate Tech Winner

The IFC Climate Tech Specialist and important industry stakeholders are introduced.

Access to the worldwide clean energy ecosystem network of New Energy Nexus as well as its local networks in Uganda and Nigeria.

Health Tech Winner

The IFC Health Tech expert and important industry participants are introduced.

FinTech Winner

The IFC FinTech investment team and IFC partner VC funds are introduced.

VivaTech/IFC AfricaTech Awards | Eligibility Criteria

Open to African-based startups;
Having a product or service aimed at the African market;
Having a product/solution that is scalable;
Must have raised a minimum of $200K but no more than $6M in the capital;
Must address: Climate Tech, Health Tech, or FinTech.

Selection Criteria

Impact: A product or service that has demonstrated success in solving significant societal and/or environmental challenges.

Innovation: Originality and level of creativity of the tech solution in comparison to current alternatives (problem-solving approach, characteristics of the technology used, patented processes or components, etc.)

Scaling: The startup’s market size and scalability potential (total addressable market, potential to expand to other markets, etc.)

Team profile: Level of experience and team size (number of personnel, level, and variety of knowledge, entrepreneurial and/or academic background, etc.) are all factors to consider.

Business model: Product-market fit and traction have been demonstrated in the business model (maturity of the startup, commercial traction, number of clients, annual global turnover growth, etc.)