Investing in Innovation Africa (i3) is shifting its focus to growth-stage African healthtech startups for its 3rd cohort, prioritizing companies improving pharmacy care.
The pivot follows the U.S. State Department’s “stop-work” directive on foreign aid, issued on Jan. 25, which is expected to disrupt Africa’s healthcare supply chains.
Why it matters
The aid freeze could hinder the distribution of essential medicines across Africa, underscoring the need for locally-led solutions to health product distribution and service delivery.
The details
- i3 will support 5-7 growth-stage startups with up to $225K in grant funding each.
- The initiative, backed by the Gates Foundation, MSD, Cencora, Endless Foundation, HELP Logistics, Sanofi’s Global Health Unit, and Chemonics, aims to help these startups secure key partnerships to scale their impact.
- Support for early-stage companies will resume later.
What’s next
- Applications for the 3rd cohort are open until Feb. 28. Apply here: innovationsinafrica.com/application.
- Selected startups will be announced on April 30.
- i3 will host a virtual Q&A session on Feb. 21 to address applicant questions.
Source:
techlabari.com
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