With the goal of offering venture capital to help them grow, healthcare-focused investor and incubator Villgro Africa is on the hunt for female founders helming innovative health startups across the continent.
In 2017, the India-based Villgro Innovations Foundation launched Villgro Kenya, an early-stage business incubator and impact investor. Villgro Kenya provides mentorship, capital, and networking opportunities to East African startups in the healthcare and life sciences sectors.
After changing its name to Villgro Africa in 2020, the company expanded across the African continent and has provided seed capital to more than a hundred businesses, amounting to more than $1 million.
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African female founders who have health solutions that could have a big social impact, who are seeking a community to help them build their solutions, and who need help navigating the startup world are invited to attend an information session about how Villgro can assist.
Any ideas that show promise of substantially bettering healthcare access and equity across the board for Africa’s health needs are welcome to submit their proposals. Any technological advancement that helps in the development of new tools for the detection, evaluation, and treatment of diseases is welcome to apply.
Opportunities for funding, technical assistance, mentorship, and support will be made available to selected ventures.
The gender challenge
According to the group, their research has shown that there is a significant gender gap when it comes to healthcare innovation and that this lack of diversity in the field has a negative effect on healthcare equity.
When pitching for funding at any stage, from pre-seed to beyond, female founders face a number of challenges, including: inadequate startup support programmes that acknowledge and accommodate women’s unique strengths in networking, collaboration, and engagement with the startup community; biassed evaluation methods; and support from friends and family.
Aside from funding, women may have trouble breaking into networks that are dominated by men and locating mentors who can relate to their specific struggles and offer advice and encouragement. In a field where men predominate, it might be difficult for female founders in health tech to get their names out there. It can be difficult to make connections and gain access to resources when there is a lack of diversity in leadership roles and at industry events.
How Villgro Africa is stepping in
In reply, Villgro Africa stated its intention to collaborate on creating opportunities and frameworks that would help female innovators succeed rather than just survive while they build their businesses.
In a statement, the group said that they are making an effort to boost the number of female founders on the continent by making this request. Their goal is to help female founders seize opportunities in healthcare innovation by providing them with support and information throughout the application process.
Villgro is making an effort to encourage more female founders across the continent, and this call is a part of that. Their goal is to provide female founders with approaches that recognise their unwavering role in healthcare innovation by providing support and information throughout the application process.