AfricaTech Awards
ABOUT THE AFRICATECH AWARDS
VivaTech, in partnership with the International Finance Corporation (IFC), organizes the second edition of the AfricaTech Awards. This pan-African initiative, recognizes and supports startups striving to make a positive impact in three important areas - Climate Tech, Health Tech and FinTech.
Tech startups provide vital solutions to major global challenges and help foster sustainable development. Despite increasing interest from investors, startups across the African continent often struggle to raise the capital necessary to scale their business.
Through the AfricaTech Awards, VivaTech and the IFC aim to create new opportunities for emerging startups in Africa. The program provides privileged moments for networking and mentoring with the leaders in tech, major investors, policymakers and institutions, promoting the brightest African innovators shaping the future.
If you missed the first edition of the AfricaTech Awards, watch the replay!
ABOUT VIVA TECHNOLOGY
VivaTech accelerates innovation by connecting startups, tech leaders, major corporations and investors responding to our world’s biggest challenges. This is where business meets innovation. Vivatech organizes Europe’s biggest technology and startup event each year, over 4 exciting days in Paris. We unite the most disruptive topics in tech, rule-breaking entrepreneurs, and the world’s largest technology breakthroughs, building an ecosystem where business gets done. VivaTech is a global community including thousands of visionary startups, investors, organizations, corporations, researchers, media, and talent. The seventh edition of VivaTech will take place June 14-17, 2023.
ABOUT INTERNATIONAL FINANCE CORPORATION (IFC)
IFC, a member of the World Bank Group, advances economic development and improves the lives of people by encouraging the growth of the private sector in developing countries. They achieve this by creating new markets, mobilizing other investors, and sharing expertise. In doing so, they create jobs and raise living standards, especially for the poor and vulnerable. Their work supports the World Bank Group’s twin goals of ending extreme poverty and boosting shared prosperity.
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 from the production and sale of energy including for example the distribution or transmission of energy, grid management and energy storage.
Mobility and transport:
Innovations that can help reduce the environmental footprint from the movement of people or goods, including Electric Vehicles, Zero-emission aviation and shipping or low carbon fuels.
Food and agriculture:
Innovations that can help reduce the environmental footprint from the production of food or other agricultural products . Examples of innovations include precision farming, robotics, ag-Biotech solutions, regenerative agriculture, food waste reduction.
Carbon removal:
Carbon removal innovations including for example enhanced soil carbon sequestration, direct air capture and storage, enhanced mineralization or Hydro-carbon fuels.
Built environment:
Innovations in the domain of building materials, heating and cooling, energy efficiency and construction. Material-efficient design, reductions in material waste, replacement of high-carbon materials with low-carbon options.
Industrial and manufacturing:
Technologies contributing to reducing GHG emissions in hard to abate sectors such as cement, steel or chemicals and innovations improving manufacturing efficency such as circular economy models or waste management.
Climate accounting and Climate risk:
Solutions that can help collect and analyze climate-related data to facilitate GHG performance management, risk mitigation and GHG accounting and reporting. 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.
Fem Tech:
FemTech focuses on providing healthcare products and services for women e.g. solutions for female cancers, fertility an feminine hygiene, women safety, services for maternity care.
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:
Payment Infrastructures:
Solutions for enablling all types of digital payments.
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.
Book keeping:
Digital solutions for book keeping.
WealthTech/ Investment Tech:
Solutions for comparing financial products (bank accounts, credit and investment options, etc.) and digitized or automated investment advice and portfolio management solutions.
Cross Border:
Digital solutions facilitating cross border remittances, trade and capital flows.
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 startups (3 in each category) will receive:
- ✨
- 🤝
- 🎤
✨
- Invitation to 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
- Challenge your ideas with top other startups
🎤
- Be showcased across a wide variety of media
- Be included in the VivaTech communication plan
REWARDS FOR THE WINNERS
The 3 winners (1 in each category) will receive:
- 🌍
- 🩺
- 🏦
🌍
- 1:1 mentoring session with IFC portfolio Unicorn startup founder
- Award from the sponsor of the category to be announced soon
🩺
- 1:1 mentoring session with IFC portfolio Unicorn startup founder
- Award from the sponsor of the category to be announced soon
🏦
- 1:1 mentoring session with IFC portfolio Unicorn startup founder
- Award from the sponsor of the category to be announced soon
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 startup (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.)
OUR STRONG COLLABORATION
MAKHTAR DIOP - IFC’S MANAGING DIRECTOR AND EXECUTIVE VICE PRESIDENT
“Africa is buzzing with innovative tech solutions that can help address climate change, promote food security, and expand financial inclusion. Yet over 80% of African startups report difficulties in accessing funding. Initiatives like the AfricaTech Awards, which bring together entrepreneurs, governments, and investors, are key to attracting the resources and support that tech startups need to scale their innovations across the continent and beyond.”
THE CO-HOSTS
THE KNOWLEDGE PARTNER
