i3 Africa awards $225K each to 7 pharmacy startups, backed by Gates Foundation and MSD
The Investing in Innovation Africa (i3) Programme, which backs healthcare innovation across Africa, has begun its third group of selected growth-stage companies. i3 Africa has provided selected companies with $225,000 in risk-tolerant funding, personalised support, and access to global experts, aimed at empowering them to improve patient access to healthcare across the continent and grow their impact.
Launched in September 2022, i3 Africa was designed to address challenges faced by pharmaceutical companies across the continent. i3 claims it has given $3 million in funding to 60 startups across 16 African countries in the last two years. So far, the programme has empowered a diverse group of innovators, 43% of them women-led and 20% from Francophone countries. Its impact includes facilitating 450 partnerships, securing 122 contracts worth over $11 million, and contributing to the creation of nearly 1,000 jobs, with women occupying half of these roles.
Also Read:i3 opens application for African Healthcare startups to win $50k grant
i3 Africa is funded by the Gates Foundation and backed by MSD, Cencora, Endless Foundation, HELP Logistics, Sanofi’s Global Health Unit, and Chemonics. In many African countries, pharmacies often act as the first point of contact for patients, providing 70% of essential healthcare services. The selection process is based on technology-driven solutions that strengthen pharmaceutical services across Africa, AI-powered prescription refills, built-in financing, and cloud-based pharmacy services.
i3 aims to facilitate 150 strategic partnerships worth approximately $30 million, connecting innovators with major healthcare buyers.
The selected startups are:
- Chefaa: an AI-powered platform that enables patients, especially those with chronic conditions, to order, schedule, and refill their prescriptions across Egypt and have them delivered to their homes
- Dawa Mkononi: helps users to order medications from local pharmacies, and also supplies to drug shops, pharmacies, clinics, and hospitals
- Meditect: a digital platform used in French-speaking countries for drug invention
- mPharma: focused on improving medication access and affordability, operating in 8 countries
- myDawa: offers a range of healthcare services, including insurance-integrated services.
- RxAll: leverages technology to combat counterfeit drugs and authenticate medicines
- Sproxil: verifies drug authenticity using QR codes and also helps patients avoid counterfeits
Speaking on the selection, Dr. Ashifi Gogo, CEO and Founder at Sproxil, commented:
“It is an honour to be selected as part of the i3 cohort focused on growth-stage companies. The support of leading global life sciences and logistics companies, alongside forward-thinking foundations, is encouraging as we scale our impact. The i3 program continues to differentiate itself through the transformative power of local innovation, and I am eager to see the significant impact this cohort will undoubtedly make.”
Through its continued efforts, i3 Africa is laying the foundation for a healthier, more accessible healthcare ecosystem across the continent. By supporting these technology-driven startups, i3 Africa is addressing the current challenges in the pharmaceutical sector while also helping to build a sustainable and scalable healthcare system that can serve the continent’s growing population.
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