Healthtech start-ups immediate launch of $7 million innovator help program
Healthcare consulting agency Salient Advisory has launched its newest market intelligence report highlighting promising African healthtech start-ups in provide chain. Spurred by these findings, a consortium of world and continental organizations, with funding from Invoice and Melinda Gates Basis, are happy to announce the launch of a pan-African initiative to help firms’ affect, entry to markets and commercialization.
Salient’s report, titled ‘Improvements in Digitising Distribution of Well being Merchandise’, highlights greater than 80 healthtech innovators in Kenya, Uganda, Ghana, and Nigeria. Tech-enabled approaches to digitizing drugs distribution to underserved pharmacies, drug retailers, clinics and hospitals, pioneered by firms similar to Lifestores, Maisha Meds and Shelf Life, recorded speedy progress previously 12 months, mirroring traits seen in B2B e-commerce on the African continent. Innovators are additionally demonstrating an growing curiosity in powering rural provide chains, bettering availability of medicines, and bolstering resilience of provide chain operations.
Investor curiosity has additionally been robust; 36% of all-time funding reported by well being care provide chain innovators profiled was raised within the final 12 months. Nevertheless, exclusionary funding traits stay entrenched: solely 2% of latest funding was raised by Black, ladies founders, a complete of simply $1.6 million in 2021.
Impressed by the progress and potential of African innovators in provide chain, the Invoice & Melinda Gates Basis, alongside Merck Sharp & Dohme (MSD), the World Well being Organisation Regional Workplace for Africa, AUDA-NEPAD, and AmerisourceBergen, are launching a $7 million pan-African initiative to supply 60 promising early and growth-stage firms with risk-tolerant grants alongside commercialization help to energy their affect at scale. This system, referred to as Investing in Innovation (i3), is coordinated by Salient Advisory, SCIDaR, and SouthBridge A&I and is operationalized with CCHub, Startupbootcamp, IMPACT Lab, and Villgro Africa. Purposes for the primary cohort of 30 firms are open now, at www.innovationsinafrica.com. Purposes will shut in mid-August.
Cheikh Oumar Seydi, Director, Africa, on the Invoice and Melinda Gates Basis, commented:
“African well being innovators have proven growing capability to leverage know-how to optimize provide chains and advance entry to medicines. Such native improvements have the potential to alter how provide chains and well being methods operate – and it’s time to help them. We’re happy to be collaborating with robust international and continental companions to collectively strengthen African well being methods, and speed up progress in the direction of common well being protection.”
Talking on the launch of the report and i3 program, Director of Salient Advisory, Remi Adeseun mentioned:
“There was appreciable progress over the previous 12 months as provide chain improvements work to boost entry to high quality medicines. Our report supplies traders, donors, and governments with actionable suggestions on engagement methods to advance firms’ progress and affect. With funding from the Invoice and Melinda Gates Basis, and together with our esteemed companions, we’re excited to be launching the Investing in Innovation program to attach promising firms to prospects who can energy their affect and scale.”
Begin-ups working in well being product distribution throughout Africa are invited to use for this system at http://innovationsinafrica.com/