Great Funding Opportunities for Health Tech Companies in Africa

Institutions that Focus on Grants & Funding Opportunities for Health tech Companies in Africa

Health technology is one of the fastest-growing industries in Africa, and as such, there are many funding opportunities available for companies in the sector. 

In this article, we will explore some of the great funding opportunities for health tech companies in Africa.

The African Development Bank (AfDB) – The AfDB is a multilateral development bank that provides funding to African countries and private sector companies.

 The bank has a specific focus on supporting projects that contribute to the development of Africa’s healthcare sector. 

The AfDB has established the Africa Investment Forum, which provides a platform for investors and businesses to network and explore investment opportunities in Africa.

The Global Innovation Fund (GIF) – The Global Innovation Fund (GIF) is a non-profit organization that provides funding to social enterprises and innovators who are addressing development challenges in emerging markets.

The organization provides funding to companies in the healthcare sector that are developing innovative solutions to improve healthcare delivery and access in Africa.

The Bill and Melinda Gates Foundation – The Gates Foundation is a philanthropic organization that supports initiatives aimed at improving global health outcomes. 

The foundation provides funding to companies in the healthcare sector that are developing innovative solutions to address health challenges in Africa. 

The foundation has a specific focus on supporting initiatives that target the eradication of diseases such as malaria, tuberculosis, and HIV/AIDS.

Medtech Device Startups // Up to $20,000 Funding by Villgro Africa

The United States African Development Foundation (USADF) – The USADF provides funding to African entrepreneurs and companies that are developing innovative solutions to address social and economic challenges in Africa. 

The USADF has established the African Entrepreneurship Award, which provides funding to companies in the healthcare sector that are developing innovative solutions to improve healthcare delivery and access in Africa.

The African Health Fund – The African Health Fund is a venture capital fund that provides funding to healthcare companies in Africa. 

The fund has a specific focus on supporting companies that are developing innovative solutions to improve healthcare delivery and access in Africa. 

The fund provides seed and growth capital to companies in the healthcare sector and has a particular interest in companies that are addressing the healthcare needs of underserved populations.

PharmStars – PharmStars is a 10-week pharma-focused accelerator for digital health startups, dedicated to driving digital health adoption to improve patient outcomes. 

They educate and mentor digital health startups seeking engagement with pharma and biotech firms. 

They are supported by pharma members who are committed to working with startups that graduate from our accelerator.

Investing in Innovation Africa (i3)- Investing in Innovation Africa (i3), a pan-African initiative for startups building the future of healthcare supply chains is calling for leading innovators to join its second cohort. 

Funded by the Bill & Melinda Gates Foundation and sponsored by AmerisourceBergen, Merck Sharpe & Dohme (MSD), Microsoft, and Chemonics, i3 is supporting the commercialization of 60 promising early and growth-stage companies. 

The program connects African-led supply chain innovators to donors, industry, and government partners, to power startups’ growth and impact. 

Selected startups receive targeted introductions to customers to support commercialization and impact, a US$50,000 grant, and tailored investment readiness support. i3 is particularly focused on selecting women-led companies and those operating in Francophone regions.  

Applications are open here until June 26. Selected startups will be announced on September 14. The first cohort, selected in September 2022, featured 31 innovators enhancing access to health products across more than 24,000 hospitals, clinics, and pharmacies in 26 African countries.

Villgro Africa- Villgro Africa specializes in health innovations and is committed to supporting solutions that will make an impact, even if it requires making long-term investments. 

We provide patient capital and patient incubation, taking the time needed to prepare our companies to take on more investment by refining their solution and strengthening their business

The African continent faces significant challenges when it comes to achieving Sustainable Development Goal (SDG) 3: “Ensure healthy lives and promote well-being for all at all ages.

At Villgro Africa, we believe the challenge is not a lack of technology or know-how to solve these problems, but a lack of a convincing business case to warrant the effort. We work with social entrepreneurs to develop and scale innovations through sustainable business models to address Africa’s health problems.

Villgro Africa has a strong track record of making healthcare investments in Africa using a rigorous de-risking mechanism that focuses on the team, business model, instability, product, and exit feasibility.

Company Portfolio: Ilara Health, Clinic Pesa, 

Africa MedTech Challenge – Africa MedTech Challenge, ENRICH in Africa’s initiative to bring change through innovation to healthcare in Europe and Africa.

Sothema, the leading pharmaceutical company, and Mohammed VI Polytechnic University are seeking startups and entrepreneurs to use technology to develop the most innovative treatments and bring healthcare to the next level. 

Prizes include customized support by Sothema’s experts according to a project’s needs, access to technical resources provided by Sothema, the spotlight in Sothema’s and ENRICH in Africa’s communication channels, invitations to the final event in Cape Town, and a license for the Accelerator Squared online platform.

Conclusion

In conclusion, there are many funding opportunities available for health tech companies in Africa.

These funding opportunities provide access to capital that can help companies in the healthcare sector develop and scale innovative solutions that address the health challenges facing Africa.

By leveraging these funding opportunities, health tech companies can play a crucial role in improving healthcare delivery and access in Africa, ultimately improving health outcomes and driving economic growth on the continent.