A subsidiary of the United Kingdom technology hub, Founders Factory Africa has partnered with South African healthcare company, Netcare to run an acceleration and incubation program for African health-tech startups.
Through this program, they will be providing support for 35 health-tech startups across Africa.
Established in October 2018, Founders Factory Africa in collaboration with Standard Bank, says it wants to build and help scale over 100 startups in Africa over the next five years.
The duo made their first investment in 5 African startups including two Nigerian startups: Accountable and EaszyHire, in April.
They all took part in a 6-month accelerator program and received investments between £30,000 and £100,000.
Now in partnership with Netcare, FFA will be offering an health-tech focused accelerator program as it is targeted at startups that have a Pan-African scope and have begun to generate sales.
The program will accelerate 5 startups and incubate 2 yearly. The accelerated startups will receive a £30k cash investment and £220k in support services from Founders Factory Africa, while health-tech ventures in the incubator will receive £60K cash and £100K in support.
Quoting the Co-founder and CEO of Founders Factory Africa, Roo Rogers
“There has been a rise in innovative solutions in the African health-tech sector recently and this accelerator will be a good way for these startups to receive the capital and support they need to scale. Applications for this accelerator program is currently open here till September 6, 2019.”