UPDATE, Jan 28th.
On Jan 25th, the US government issued a ‘stop work’ directive for US aid, intensifying the need for locally-driven, market-creating approaches to health product distribution and service delivery across Africa.
In response, i3 has taken the decision to prioritize immediate support for 5-7 growth-stage companies building the Future of Pharmacy care in Africa, increasing efforts to help these innovative companies rapidly expand access to patient care.
Thus, i3 is only selecting growth-stage companies focused on the Future of Pharmacy at this time. We aim to support to a set of early-stage companies at a later date. Please sign up for our newsletter to stay in touch.
Innovators must fulfill the criteria below to qualify for review in i3's 3rd cohort:
FOCUS ON AFRICA
- Must have a strategic focus on meeting the needs of African customers in Africa.
- Must be headquartered or have a legal presence in Africa.
FOCUS ON THE FUTURE OF PHARMACY CARE
- Must offer advanced tech-enabled solutions aimed at improving pharmacy services. Innovators that develop novel health products or devices as a part of their delivery or distribution services are eligible. Excluded are innovators who are solely focused on research, education, and product or device development. The business does not need to be solely focused on health to be eligible.
- Non-profits, consultancies, intermediaries and consortiums are not eligible.
BE AT THE GROWTH STAGE, SEEKING HEALTHCARE PARTNERSHIPS
Nascent/idea stage companies are not eligible. Mature companies (incumbents) are not eligible. To be considered “growth stage” innovators must meet at least 5 of the criteria below:
- Products/ services in market at/near national scale in at least one country
- Strong, well-defined revenue model, sales and operational capabilities
- Decreasing customer acquisition costs
- Proven customer and revenue diversification with aggregate annual revenues over $500K USD
- Clear plan for businesses growth and sustainability
- Clear plan for growth of healthcare offering
- Needs in healthcare growth plan that correspond to i3’s offerings
IMPACT PATIENT ACCESS
The business does not need to be solely focused on health.
Innovators must demonstrate that grant funding will generate direct improvements in one or more of the following areas: availability, accessibility, quality, affordability or visibility of critical health products and services.
