The goal of the African Impact Challenge (AIC) is to build the Africa they want to see, by investing in the continent’s early innovators. They enable them to build market-creating innovations, which tackle their country’s biggest challenges with technology.
The challenge starts with a self-paced Pre-incubation phase beginning in April 2024, which leads to the selection of top-performing ventures for funding and incubation.
Each top-performing venture will be interviewed and allowed to choose between a non-dilutive grant or a simple agreement of future equity investment. They will also have a chance to build in Toronto during summer 2025.
Streams
- Sector Agnostic Stream
- 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
- Pan-African health entrepreneurship Stream
- 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
- 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 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 you can expect?
- Capacity Building
- Incubation
- MVP Capital
- Mentorship
- Market Penetration
How long is incubation? And when does it start?
- 12 Weeks: July – October 2023
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.
- 2024 Health Entrepreneurship Stream: Pan-African ventures enabling health outcomes.
- 2024 Country Innovation Stream: Scalable ventures based in Botswana from any sector.
- 2024 Community Impact Stream: Social enterprises or nonprofits based in Botswana.
For more information, visit African Impact Initiative.
