African Impact Challenge 2023 for early-stage African entrepreneurs

Since the inception of the African Impact Challenge 2023 for early-stage African entrepreneurs, The Prosperity Paradox Challenge has seen over 500 African entrepreneurs receive training and 80 of them receive funding. This annual challenge is held in different African countries each year and is worth $25,000 in funding.

African Impact Initiative is offering a chance to win up to $25,000 in grants or SAFE investments for top-performing teams in South Africa this year. Participants will also have the opportunity to travel to Toronto for 3 months next summer 2023 and receive full coverage of expenses. The African Impact Initiative seeks to launch innovative projects that fit its selection criteria across the continent. To do this, it provides the funding, resources, and guidance needed for entrepreneurs to begin or resume their projects and create viable solutions.

Eligibility for the African Impact Challenge 2023 for early-stage African entrepreneurs:

Applicants in Stream 1 must have ventures based in South Africa from any sector.
Applicants in Stream 2 must have ventures across Africa that enable positive health outcomes.
Applicants must be young Africans under the age of 39 who live in South Africa.
Applicants must have the desire to pursue impact-focused entrepreneurship as a means of livelihood.
Applicants must have the desire to solve critical problems with technology.
Applicants must give a full-time commitment to the team building the venture.

Streams for the African Impact Challenge 2023 for early-stage African entrepreneurs:

Stream 1: Sector Agnostic Ventures based in South Africa. This is the stream for startups/ventures building solutions in South Africa for the sector-agnostic stream.
Stream 2: Ventures focused on improving the Health sector across Africa. 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.

Funding Information for the African Impact Challenge 2023 for early-stage African entrepreneurs:

Non-Dilutive Grant up to 10,000 CAD
Simple Agreement for Future Equity up to 25,000 CAD
The Pre-Incubation lasts 6 to 8 Weeks.

What You Can Expect for the African Impact Challenge 2023 for early-stage African entrepreneurs:

Capacity Building.
Incubation.
MVP Capital.
Mentorship.
Market Penetration.

Selection Criteria for the African Impact Challenge 2023 for early-stage African entrepreneurs:

Your idea should address an identified problem/challenge in your country, by providing a comprehensive solution through a clearly defined job 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, or affordability.
Preference will be given to innovative business models that are scalable.

Application Deadline: April 15th, 2023.

For more information about this opportunity, Visit the Official Website.

African Impact Challenge 2023 for early-stage African entrepreneurs