Source: thebftonline.com
Brief
ABOUT THE AFRICATECH AWARDS
VivaTech and the International Finance Corporation (IFC) have teamed up for the second edition of the AfricaTech Awards. This initiative aims to recognize and support innovative Africa-focused companies with disruptive solutions in the Climate tech, Health tech, and Fintech sectors.
Tech entrepreneurs can provide vital solutions to major global challenges, while also driving economic growth and fostering sustainable development. Despite increasing interest from investors, startups in emerging markets often struggle to access the networks and capital they need to scale their business.
Through the AfricaTech Awards, VivaTech and IFC aim to create new opportunities for tech companies that are having a transformational impact across Africa. The winners of the Awards will gain access to leaders and top executives in the tech industry and increased visibility among global investors, including IFC, one of the largest venture capital investors in emerging markets. The inaugural edition of the Awards, which launched last year, attracted more than 300 applicants.
If you missed the first edition of the AfricaTech Awards, watch the replay!
ABOUT VIVA TECHNOLOGY
VivaTech accelerates innovation by connecting startups, tech leaders, major corporations and investors responding to our world’s biggest challenges. This is where business meets innovation. Vivatech organizes Europe’s biggest technology and startup event each year, over 4 exciting days in Paris. We unite the most disruptive topics in tech, rule-breaking entrepreneurs, and the world’s largest technology breakthroughs, building an ecosystem where business gets done. VivaTech is a global community including thousands of visionary startups, investors, organizations, corporations, researchers, media, and talent. The seventh edition of VivaTech will take place June 14-17, 2023.
ABOUT INTERNATIONAL FINANCE CORPORATION (IFC)
IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2022, IFC committed a record $32.8 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises.
IFC takes a holistic approach—from ecosystem building to investing directly in companies and VC funds—with combinations of commercial and concessional capital, and technical advisory services—to identify, incubate, and scale business models that can have significant impact. IFC’s current portfolio focuses on high-impact sectors, including Health Tech, Agtech, Climate Tech, EdTech and HR Tech, e-Commerce, e-Logistics and Mobility, and e-Supply Chains.
IFC has expanded its support to tech ecosystems with a new VC platform that in the next three years will invest up to $225 million additional capital in startups across Africa, Middle East, Central Asia, and Pakistan. Furthermore, IFC Startup Catalysts invests in seed funds, accelerators, and incubators in emerging markets that help early-stage companies grow and become ready for later-stage investment.
