International Finance Corporation (IFC) have announced a call for applications for the first edition of the AfricaTech Awards, a pan-African initiative developed to recognise and support the most innovative and impactful tech start-ups across the continent.
Entrepreneurship has been a key driver of economic growth in Africa, promoting competitiveness and fostering job creation, particularly among young people. According to reports from Briter Bridges, investment in African tech start-ups reached US$4.9 billion in 2021, marking a significant increase from the US$2.4 billion invested in 2020.
“Africa is buzzing with innovative tech solutions that can help address climate change, promote food security, and expand financial inclusion,” said Makhtar Diop, Managing Director, IFC. “Yet over 80% of African start-ups 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 start-ups need to scale their innovations across the continent and beyond.”
The AfricaTech Awards will recognise African start-ups that are driving innovation and development impact in three main sectors – climate tech, health tech, and FinTech. Participating start-ups will have until March 25th, 2022 to submit their applications. In May, with support from Viva Technology and IFC, a panel of industry experts from knowledge partner Deloitte will pre-select the top 45 applicants. The final winners in each category will be announced during the 2022 edition of Viva Technology, taking place from June 15th to 18thin Paris and online.
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