Call For Applications: UNDP timbuktoo HealthTech Startup Accelerator Program 2024 (up to $100,000)
Are you a visionary HealthTech entrepreneur/innovator with a groundbreaking idea to transform healthcare in Africa and committed to leveraging innovation to contribute towards the Sustainable Development Goals (SDGs)? Do you have a scalable, defendable solution with clear monetization strategies? Apply now to join the UNDP timbuktoo HealthTech Startup Accelerator Programme 2024.
Africa’s HealthTech landscape presents both challenges and opportunities, with a projected $11 billion digital health market by 2025. To address critical healthcare gaps, there’s an urgent need to establish a robust HealthTech hub.
This initiative aims to foster startups developing groundbreaking solutions in deep tech, hardware, and advanced technologies. Key areas include AI-driven diagnostics, locally manufactured medical devices, and biotechnology tailored to African needs. The hub can provide a foundation for building a flourishing full stack HealthTech industry.
Eligibility
Groundbreaking founders and innovators across Africa who are already building startups that meet the following criteria:
- Startups with founders who are nationals of an African Country.
- Startups must be registered and operating within Africa.
- Startups must have been in operation for a minimum of one year.
- Startups must address development challenges.
- Must be a technology-based solution.
- Startups must have a Minimum Viable Solution (MVS) (regulated and licenced if necessary).
- Startups should have existing corporate governance systems and accountability.
- This application is limited to citizens of the African Union member states.
Selection Criteria
The timbuktoo HealthTech hub aims to support innovative startups that meet the following key criteria:
- Technology-Enabled Solution: Your startup must have a technology-enabled solution at its core, utilising digital tools and platforms to drive innovation and efficiency in the financial sector.
- Contribution Towards the SDGs: Your solution should align with and contribute towards one or more of the United Nations Sustainable Development Goals, addressing pressing global challenges such as poverty, inequality, climate change, and more.
- High Scalability: Your startup should demonstrate high scalability either through digital distribution channels or the ability to scale sales rapidly across markets.
- Defensible Position: Your startup should have a defensible position, whether through Intellectual Property (IP) rights, network effects, domain expertise, or regional market dominance, ensuring sustainable competitive advantage in the HealthTech landscape.
- Innovation and uniqueness: Novel approach to solving health challenges, potential for disruptive impact in the healthcare sector
- Technical feasibility: Sound scientific/technical basis for the solution, realistic development timeline
- Regulatory compliance: Awareness of relevant healthcare regulations, strategy for obtaining necessary approvals
Benefits
- Membership in the pioneer cohort of timbuktoo HealthTech Hub and entire Timbuktoo ecosystem.
- Mentorship from industry experts and seasoned entrepreneurs.
- Equity-free funding of up to $100,000 USD.
- Networking with potential partners, collaborators, and customers.
- Access to investor networks.
- Resources and support to accelerate growth and impact.
- Access to networks and agencies within the larger UN system.
- Access to networks and resources within the AfCTA system.
- Impact and shape a pan-African HealthTech evolution.
Deadline: October 6, 2024
