For the first cohort, Investing in Innovation selected 31 startups. This time, it has selected 29 startups operating in healthcare technologies, particularly in healthcare supply chains.

Last Tuesday, the pan-African initiative Investing in Innovation (i3) announced the second cohort of its i3 program. The cohort comprises 29 startups from ten African countries. The startups will take part in the annual market access event in Nairobi from November 14 to 15, 2023. 

"Selected startups receive introductions to leading potential customers in industry, donor agencies and governments, a $50,000 grant, and tailored investment readiness support from leading accelerators Villgro Africa, IMPACT Lab, Startupbootcamp Afritech, and CcHUB," we learn.

For the startups selected for this second cohort, 38% are headed by women, and 17% are active in French-speaking Africa, a region that is "less attractive" to foreign investors. Against a backdrop of slowing startup fundraising in Africa, these various programs show that the African technology sector is still attractive.

According to Kieran Daly, Director of Global Health Agencies and Funds at the Bill & Melinda Gates Foundation, the program, supported by the Bill & Melinda Gates Foundation and sponsored by the likes of Cencora and Microsoft, complements state and international initiatives to improve health outcomes and strengthen local health systems. “Programs like i3 help us understand, support, and engage with technology-driven solutions emerging across Africa, hand-in-hand with our partners,” he added.

Adoni Conrad Quenum