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

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

Villgro Africa is calling on Innovative Medtech Device Startups based in Africa to apply for funding of $20,000, and incubation. The organization is an impact investor and early-stage business incubator that supports startups innovating for Low and Middle-Income Communities.

Preferred candidates should have scalable and sustainable models led by a multidisciplinary team with a minimum viable product. Villgro also welcomes all referrals from organizations that have worked with or know a startup that is a good fit.

To apply visit  https://villgroafrica.org/apply/, and fill in the application form.

The MedTech Potential

Today’s world is driven by technology, which is why most people prefer digital services that can be conveniently accessed whenever necessary.

Over the past decade, the MedTech industry has been growing at an exponential rate. Because of this high amount of growth, companies and startups within this industry are returning favorable profits to investors, which ensures that these investors continue providing funding to the industry.

Many early-stage MedTech startups are being acquired by larger firms, which is leading to the creation of numerous innovations that are taking the healthcare industry by storm.

The ever-growing nature of the MedTech industry means that advancements are being made on a continual basis. Because of these advancements, healthcare is becoming more effective, more affordable, and more accessible for people all around the world.

From AI technology to needle-less diabetes care, the most recent innovations within the MedTech industry have already proven to be highly effective at delivering quantifiable results to people in need.

Innovations like 3D printing have quickly become one of the most popular technologies being used by MedTech startups as well as established corporations. In recent years, these printers have been used for the creation of artificial joints that can be administered during surgery as well as patient-specific implants, the latter of which includes everything from shoulder implants to hip implants.

Other technologies include Robotic surgery, Big Data and Analytics, Artificial Intelligence, Virtual Reality, and more.

Eligibility for the Funding:

The innovation must be either

• Tech-enabled
• IoMT
• Level I & II Medical Device/Diagnostic

Successful applicants will also receive business development expertise and access to further investment opportunities.

About the Funder

Villgro Africa, which started its operation from Nairobi Garage, is an early-stage incubator that addresses deep-rooted social problems and inequalities by providing technical and business expertise for market-driven innovation and scale-up of social enterprises.

Villgro Africa is inspiring a new wave of innovative thinking to address deep-rooted global health challenges in Africa through market-led solutions.

They provide seed funding, technical assistance, and business development support to global health innovators to take their innovations to the market. Working at the interface of science and industry.

Villgro Africa has supported over 20 companies since 2015. The portfolio is a mix of hardware devices, technological health systems, and services.

The new challenge comes at a time when the company also celebrates its Female-led portfolio companies Neopenda and Rescue by Flare emerged as finalists of the TechEmerge Health East Africa Challenge.

They are among 17 innovative health tech startups from 11 countries successfully matched with 11 leading healthcare providers across Ethiopia, Kenya, and Uganda to jointly implement 20 pilot projects and build long-term partnerships.

Selected innovators receive funding and guidance from the TechEmerge team to pilot their tech solutions in the East African market, with the ultimate goal of wider commercial deployment of the technologies.

IFC will provide support during the market-entry and tech transfer process for both innovators and healthcare providers – mitigating financial and operational risks associated with the market entry for innovators and reducing adoption risks for local healthcare providers. 

Featured Photo by Artem Podrez from Pexels