i3 backs 29 African health-tech start-ups
Investing in Innovation Africa (i3), a pan-African initiative for start-ups focused on healthcare supply chains, unveiled its second cohort of 29 companies to receive investment and impact assistance yesterday.
The Bill and Melinda Gates Foundation is funding the i3 Initiative, which is also supported by Cencora (previously AmerisourceBergen), MSD, Microsoft, and Chemonics.
The i3 initiative assists promising early- and growth-stage companies in commercialising their products.
Yesterday, the initiative said the 29 selected start-ups will receive introductions to prominent potential clients in industry, donor agencies, and governments, as well as a $50,000 grant and tailored investment readiness support from Villgro Africa, IMPACT Lab, Startupbootcamp Afritech, and CcHUB.
The 29 selected start-ups provide digitally enabled healthcare supply chain solutions in 21 African countries. Of the enterprises chosen, 38% are led by women, while 17% operate in Francophone Africa.
The following companies were chosen: Afia Group Limited, Aimcare Health, Bena Care, BioCertica, Chari Pharma, CheckUps Medical, Chefaa, Dawa Mkononi, Drugstore Nigeria, Famasi Limited, Field Intelligence, Inc, GICMED, Grinta, Healthtracka, Kapsule, Medical Diagnostech, Medpharma Alliance International Limited, Octosoft Technologies Limited, Pharmarun, Pharmaserv Health Project Nigeria Limited, Reductiona, SASA Health Limited, Tech Care For All Eastern Africa, Technovera - Pelebox Smart Lockers, Tibu Health, UltraTeb, Waspito, WellaHealth, and Welo.
The entrepreneurs have established online pharmacy and telemedicine companies, as well as inventory management services for pharmacies, clinics, and hospitals, supply chain data analytics, product protection, product visibility, and other services.
“As countries and global health institutions work to expand access to priority products, we face an urgent need to leverage solutions across the public and private sectors to improve health outcomes and strengthen local health systems," said Kieran Daly, director, Global Health Agencies and Funds at the Bill and Melinda Gates Foundation.
“Programmes like i3 assist us in understanding, supporting, and engaging with technology-driven solutions emerging across Africa in collaboration with our partners."
Cencora's senior VP, Global Products and Solutions, Jason Dinger, added: "The breadth of talent and creativity in the African entrepreneurial landscape is reflected in the range of start-ups selected for the second cohort, and we look forward to witnessing the transformative impact of their solutions in the years to come."