- Vi
- Ai
- To
Victoria Lessor, Aida Kandil, Tom Lee and others are enlisted in the challenge
AfricaTech Awards
About AfricaTech Awards
VivaTech, with support from the International Finance Corporation (IFC), launched the first edition of the AfricaTech Awards, a pan-African initiative developed to recognize and support impactful start-ups across three key sectors - Climate Tech, Health Tech and FinTech.
Tech start-ups can provide much-needed solutions to pressing global challenges, promote inclusion, and foster sustainable development. However, despite increasing interest from investors, start-ups across the continent too often struggle to find the capital they need to scale their innovations. The AfricaTech Awards aim to help create new market opportunities for emerging start-ups with great impact potential in Africa, catalyzing support and inspiring action from investors, policymakers, fellow entrepreneurs, and leading institutions in the tech space.
About VivaTech
Viva Technology is Europe's biggest start-up and tech event.
We act as a powerful global catalyst for digital transformation and start-up growth. Every year, VivaTech brings together in Paris and online the greatest business leaders, start-ups, investors, researchers and innovators to ignite positive change in business and for society. The 6th edition of VivaTech is taking place 15-18 June 2022.
About International Finance Corporation (IFC)
IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets.
We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In the fiscal year 2021, IFC committed a record $31.5 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of the COVID-19 pandemic. For more information, visit www.ifc.org.
The Challenges
Climate Tech
Challenge
Solutions that can reduce emissions, protect the environment, and help communities become more climate resilient.
Challenge 1
Climate Tech Challenge
This Challenge is addressing the following topics:
Cleantech, Energy and Environment:
Innovations that can help reduce the environmental footprint of key industrial processes, including energy generation, or reverse or avoid degradation of the environment.
Mobility and transport:
Innovations such as zero-emission drivetrains and vehicles or mobility platforms and services that can increase the flexibility and sustainability of transportation.
Food and agriculture:
Innovations that can help farmers, fishers, ranchers as well as their supply companies to provide food or other agricultural products more efficiently and more sustainably. Examples of innovations include renewable energy systems, efficient field machinery, greenhouse technologies, drip irrigation, solar/wind powered water pumping.
Heavy industry:
Technologies in the domain of carbon dioxide capture and storage, alternative chemistries, recycling, hydrogen and biomass.
Built environment:
Technologies in the domain of air purification, electrification, carbon capture, zero-carbon hydrogen, passive solar and radiant heating and circular economy. Material-efficient design, reductions in material waste, replacement of high-carbon materials with low-carbon options.
Climate data collection:
Solutions that can help collect and analyze climate-related data. Examples include: methane leak detection, energy monitoring platform solutions, climate change monitoring platforms, solar irradiance data, and weather predictions for renewables.
This description is not exhaustive and the challenge is open to all Climate Tech solutions.
Sector-specific selection criteria:
Clarity, scope, and relevance of the problem and of the proposed solution.
Impact on climate (quantify whenever possible i.e. GHG emission reduction).
Health Tech
Challenge
Solutions that can expand access to healthcare among underserved communities, reduce the cost of services, and boost innovation in the healthcare sector.
Challenge 2
Health Tech Challenge
This Challenge is addressing the following topics:
Access to care/Healthcare delivery:
Solutions that can improve access to quality healthcare, particularly among underserved communities.
Healthcare digitalization:
Solutions such as telemedicine/online consultations and other digital solutions that promote easy and affordable access to health services. Innovations also include e-learning solutions for clinical and managerial medical personnel.
Healthcare data collection:
Solutions that can help monitor health information and support health diagnostics.
This description is not exhaustive and the challenge is open to all Health Tech solutions.
Sector-specific selection criteria:
Demonstrated ability of the solution to deliver impact to mid- and lower-income patients in emerging markets.
Demonstrated ability to scale commerciality to improve access, affordability, and/or quality of healthcare.
FinTech
Challenge
Solutions that can expand access to financial services among underserved communities, promote financial inclusion and financial literacy, and improve the efficiency of the banking infrastructure.
Challenge 3
FinTech Challenge
This Challenge is addressing the following topics:
PayTech/FinTech:
Solutions for optimizing all types of payments.
Robo-Advisors:
Digitized or automated investment advice and portfolio management solutions.
InsurTech:
Digital innovations in the insurance industry.
RegTech:
Innovations designed to simplify the monitoring and management of regulatory compliance.
Neobank:
Digital banks offering innovative and low-cost banking services.
Cash management:
Digital solutions for managing personal expenses or cash flow of a company.
Crowdfunding or Crowdlending:
Participative financing platforms that call upon a large number of people to finance a project.
Online comparison platforms:
Solutions for comparing financial products (bank accounts, credit and investment options, etc.).
This description is not exhaustive and the challenge is open to all FinTech solutions.
Sector-specific selection criteria:
Financial inclusion.
Maturity of the technology.
Access to market.
Rewards for the Finalists
The top 9 start-ups (3 in each category) will receive:
- 🎤
- 🤝
- ✨
🎤
- Join the event (flight, booth and passes)
- Pitch on stage on the AfricaTech Lab
- Take part in the official AfricaTech Awards ceremony
🤝
- Network with top corporate partners
- Pitch your start-up to top VC funds
- Refine your ideas with fellow entrepreneurs
✨
- Get highlighted in the VivaTech program
- Get featured on social media and different media outlets
Rewards for Winners
The category winners will receive:
Climate Tech Winner
Introduction to the IFC Climate Tech Specialist and key industry players
Access to New Energy Nexus' global clean energy ecosystem network and its local networks in Uganda and Nigeria
Health Tech Winner
Introduction to the IFC Health Tech specialist and key industry players
Introduction to the IFC Health Tech specialist and key industry players
FinTech Winner
Introduction to IFC FinTech investment team and IFC partner VC funds
Introduction to IFC FinTech investment team and IFC partner VC funds
Selection Criteria
Impact
Product/solution with proven results in addressing pressing issues affecting society and/or the environment
Innovation
Originality and innovation level of the tech solution compared to existing alternatives (problem-solving approach, characteristics of the technology used, patented processes or components, etc.)
Scalability
Market size and scalability potential of the start-up (total addressable market, potential to expand to other markets, etc.)
Team profile
Level of experience and size of the team (number of employees, level and diversity of expertise, entrepreneurship and/or academic background, etc.)
Business model
Demonstrated traction and product-market fit (maturity of the start-up, commercial traction, number of clients, annual global turnover growth, etc.)
Timeline
The Co-Hosts
The Multi-Category Sponsor
The Climate Tech Sponsor
The FinTech Sponsor
The Health Tech Sponsor
The Knowledge Partner
