2024 African Impact Challenge

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.