The top 45 businesses that have been long-listed for the second edition of the AfricaTech Awards were announced recently by Viva Technology and the International Finance Corporation (IFC).
The AfricaTech Awards is a pan-African initiative that recognises companies generating innovation and development impact throughout the continent.
The knowledge partner Deloitte chose the startups to participate from a pool of more than 380 applicants, which is an increase of 30 percent from the inaugural edition in 2022.
The biggest number of submissions was received for the Fintech category (143), followed by the Climate Tech category (124) and the Health Tech category (115). Out of the 33 African countries that were represented, the ones with the highest participation rates were Nigeria, Kenya, Egypt, Tunisia, and South Africa.
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This year, the boards of directors of 91% of the organisations that applied have at least one female member.
“At a time when startups have needed the most support, we are proud that the AfricaTech Awards are promoting the unique vibrancy of the African tech ecosystem to the world. These 45 identified startups are evidence that Africa is playing a leading role in Health Tech, FinTech, and Climate Tech; the AfricaTech Awards have been designed to help them reach their full potential,“ explained Maurice Lévy and Pierre Louette, Co-Presidents of Viva Technology, and Francois Bitouzet, Managing Director of Viva Technology.
Read also: Vivatech Opens in Paris, Emphasizing African Startups
IFC’s 2023 AfricaTech Awards are a part of their objective to promote tech ecosystems in emerging markets and to assist innovative firms in scaling their operations.
IFC has recently announced the launch of a venture capital platform with a total funding of 225 million dollars to promote tech entrepreneurs in Pakistan, Africa, the Middle East, and Central Asia. IFC has added an additional sixty million dollars to the IFC Startup Catalyst Programme in order to assist seed funds, incubators, and accelerators in their efforts to finance and coach early-stage entrepreneurs and to get these companies ready for later-stage investment.
According to Makhtar Diop, the Managing Director of the International Finance Corporation (IFC). Tech startups play a significant role in emerging nations, both in terms of boosting the growth of the economy and scaling innovative remedies for pressing development concerns.
However, many of them are overlooked by international investors, The AfricaTech Awards provide tech entrepreneurs in emerging countries with access to a global stage, which can assist them in making connections with the investors, mentors, and partners they require to scale their inventions throughout the continent and beyond. IFC is a major backer of this programme because of the reasons stated above.
In the subsequent round of the selection procedure, a panel of industry experts will select the three most promising new businesses in each category. These companies will then be asked to participate in Viva Technology 2023, which will take place in Paris from June 14 to June 17. On the main stage of Viva Technology, the winners of the AfricaTech Awards will be presented with their prizes.
About VivaTechnology
VivaTech is an innovation accelerator that helps entrepreneurs, industry experts, large organisations, and investors work together to find solutions to the most pressing problems facing the world today. It is the location where business and innovation come together.
Every year, VivaTech organises the largest tech and startup event in Europe. The event takes place in Paris over the course of four exciting days, and it brings together the most disruptive issues in technology, the entrepreneurs who are rewriting the rules, and the world’s most significant technological breakthroughs.
This fosters an environment that is advantageous to doing business. VivaTech is a global network consisting of thousands of entrepreneurs, investors, organisations, firms, researchers, members of the media, and others with visionary potential. The Porte de Versailles in Paris will play host to the seventh iteration of the VivaTech trade show on the 14th through the 17th of June, 2023.
About IFC
The International Finance Corporation (IFC), which is a part of the World Bank Group, is the biggest global development institution with a concentration on the private sector in developing countries.
We operate in over one hundred countries, utilising our resources, knowledge, and influence to establish new markets and possibilities in nations that are still economically developing. IFC pledged a record $32.8 billion to private enterprises and financial institutions in developing nations during the fiscal year 2022.
This was done in order to leverage the strength of the private sector to end severe impoverishment and increase shared prosperity as economies struggle to cope with the effects of global crises that are compounding one another.