The second batch of 29 firms has been revealed by Investing in Innovation Africa (i3), a pan-African program for startups creating the future of healthcare supply chains.
The goal of i3, which is supported by the Bill & Melinda Gates Foundation, Microsoft, Chemonics, Merck Sharp & Dohme (MSD), and Cencora (formerly AmerisourceBergen), is to make it easier for promising early- and growth-stage businesses to go public.
Selected entrepreneurs receive a US$50,000 grant, introductions to key donors, governments, and industry leaders, as well as specialized investment readiness help from top accelerators Villgro Africa, IMPACT Lab, Startupbootcamp Afritech, and CcHUB.
The 29 selected startups provide digitally enabled healthcare supply chain solutions across 21 different African nations. In addition to providing inventory management services for pharmacies, clinics, and hospitals, supply chain data analytics, product protection, product visibility, and other services, innovators are establishing online pharmacies and telemedicine businesses.
In alphabetical order, they are: Afia Group, Aimcare Health, Bena Care, BioCertica, Chari Pharma, CheckUps Medical, Chefaa, Dawa Mkononi, Drugstore Nigeria, Famasi, Field Intelligence, GICMED, Grinta, Healthtracka, Kapsule, Medical Diagnostech, Medpharma Alliance, Octosoft Technologies, Pharmarun, Pharmaserv Health Project Nigeria, Reductiona, SASA Health, Tech Care.
Selected innovators will profit from the annual Access to Markets event of the i3, which will take place in Nairobi on November 14–15. The occasion promotes lively partnership discussions between key business players, governments, donors, and significant international organizations. Through mutually advantageous contracts, pilot initiatives, and investments, connections are formed to propel the commercialization and scalability of the startups. To date, 24 contracts, pilots, and strategic alliances have been formed by the initial batch of 31 companies funded by i3 last year.
We urgently need to use solutions from the public and private sectors to improve health outcomes and build local health systems as nations and global health institutions work to increase access to key items. Together with our partners, programs like i3 allow us comprehend, support, and connect with technology-driven solutions that are being developed throughout Africa, according to Kieran Daly, director of global health organizations and funds at the Bill & Melinda Gates Foundation.