The program is seeking startups with scalable, defendable solutions that leverage technology to address critical healthcare challenges and contribute to the Sustainable Development Goals (SDGs).

The Timbuktoo HealthTech Accelerator Program aims to foster a thriving ecosystem of startups developing innovative solutions in areas such as AI-driven diagnostics, locally manufactured medical devices, and biotechnology tailored to African needs. 

Criteria for Applicants:

• Technology-enabled solution: Startups must have a digital-first approach to their solutions.
• Contribution to SDGs: Solutions should align with and contribute to one or more of the UN SDGs.
• Scalability: Startups must have a clear path to growth and expansion.
• Defensibility: Startups should have a competitive advantage, such as intellectual property or domain expertise.
• Innovation: Startups must offer a novel approach to solving health challenges.
• Monetization strategy: Startups should have a clear plan for generating revenue.

Areas of Interest:

• Disease prevention
• Clinical preventive frameworks and community advocacy
• Vaccine and medicine production
• Medical robotics and automation
• Genomics
• Biomedical systems
• Patient care journey
• Pandemic/health emergencies management
• Malnutrition and stunting

Benefits for Selected Startups:

• Membership in the Timbuktoo HealthTech Hub ecosystem
• Mentorship from industry experts
• Equity-free funding of up to $100,000 USD
• Networking opportunities
• Access to investor networks
• Resources and support to accelerate growth

Application Process:

Interested startups can apply online at [https://forms.office.com/pages/responsepage.aspx?id=Xtvls0QpN0iZ9XSIrOVDGUX3Ay1r98ZLhR07OQNsAPxUMlNIMERKNjBMSFUwUktHUDM0UktWUjVPNy4u&origin=lprLink&route=shorturl] by October 6, 2024.

Founded in 2019, Omnisient offers a unique solution that enables businesses to extract valuable insights from consumer data without compromising privacy.

The platform protects over 160 million consumer profiles and is currently used to assess credit risk and facilitate access to financial services for millions of underserved individuals.

The investment, led by Arise, a company focused on African financial services and fintech, will support Omnisient’s expansion into new markets and partnerships.

The company aims to create the world’s largest repository of alternative consumer data, empowering banks and insurers to extend financial services to a broader population.

“This investment aligns with our vision of using innovative fintech solutions to drive growth in Africa’s financial services sector,” said Gavin Tipper, CEO of Arise.

“Omnisient’s technology will help banks and data providers identify new customers, unlock new revenue streams, and foster financial inclusion.”

Omnisient’s co-founder, Jon Jacobson, expressed gratitude for the investment and emphasized the company’s commitment to creating a more inclusive financial ecosystem.

“We are excited to partner with Arise to expand our reach and make a positive impact on people’s lives,” he said.

The fresh capital will be used to expand the company’s operations into other East African countries.

Investors in the funding round included AHL Venture Partners, Everstrong Capital, and Beyond Capital Ventures.

The investment will support Ampersand’s goal of deploying 5 million electric motorcycles by 2033.

“This additional investment will accelerate the rollout of our EV energy technology and infrastructure to the mass market,” said Josh Whale, Ampersand CEO.

“We are closer than ever to achieving our goal of providing affordable, sustainable transportation solutions to millions of people across East Africa.”

Founded in 2016, Ampersand assembles and finances electric motorcycles in Rwanda. The company’s motorcycles are claimed to be 45% cheaper to operate and produce 75% fewer emissions than petrol alternatives.

Ampersand is now preparing for a Series B funding round to further scale its operations and increase production in Rwanda and Kenya.

The company recently announced a partnership with Chinese electric vehicle manufacturer BYD to build 40,000 electric motorcycles in these countries by the end of 2026.

Led by EQ2 Ventures, the funding round also saw participation from Accion Venture Lab, Musha Ventures, Quona Capital, and existing investor CRE Ventures.

This latest investment follows a $1.5 million seed round raised in 2023.

Founded in 2021 by Ananth Raj Gudipati and Abhinav Reddy, Sukhiba Connect leverages WhatsApp as a primary operating system to provide a conversational commerce and CRM platform for medium and large enterprises.

The platform enables businesses to connect with customers, manage orders, accept payments, and provide customer service all within the popular messaging app.

The new funding will be used to accelerate Sukhiba Connect’s expansion into new markets and enhance its platform’s capabilities.

The startup aims to become the leading CRM and sales force automation tool in emerging markets, competing with other social commerce players like Kapu and MarketForce’s Chpter.

Sukhiba Connect has already experienced significant growth since its initial seed round, with operations in eight markets across Africa and India.

It has partnered with leading manufacturers, distributors, retail chains, and direct-to-consumer brands, serving over 35,000 small and medium-sized enterprises (SMEs).

“This seed extension marks a significant milestone for us,” said Gudipati. “It will enable us to scale our operations and enhance our SaaS platform to better serve our growing customer base.”

The investment, provided by MASSIF, a financial inclusion fund managed by the Dutch entrepreneurial development bank FMO, will fuel the company’s expansion and further bridge the SME finance gap in Africa.

Founded in 2015, Fido has been leading the way in providing accessible credit to individuals and businesses in Ghana and Uganda.

By leveraging technology and alternative data, the platform has granted loans to over 650,000 customers who may not have a traditional financial track record.

The latest funding round will enable Fido to increase its loan book in existing markets and explore new African countries.

This expansion aligns with the company’s mission to support underserved communities, particularly those at the bottom of the pyramid.

MASSIF’s investment in Fido demonstrates its commitment to financial inclusion and the empowerment of micro, small, and medium-sized enterprises (MSMEs).

By partnering with Fido, MASSIF aims to address Africa’s $331 billion SME finance gap and provide innovative digital lending solutions to underserved populations.

Fido’s successful Series B funding underscores the growing demand for accessible and inclusive financial services in Africa.

As the company continues to expand its reach and impact, it is poised to play a vital role in driving economic development and empowering individuals and businesses across the continent.

The global engineering and construction contractor’s investment follows extensive discussions and negotiations with Ugandan President Yoweri Museveni earlier this year.

UTel, once Uganda’s national telecom provider, faced financial challenges that led to its placement under a court-appointed administration in November 2022.

As a result, the company relinquished all its assets and business operations.

To facilitate the investment, UTel has agreed to cede 60% of its shares to Rowad Capital.

The Dubai-based company is expected to invest an initial $225 million in the telecom sector, aiming to revitalize UTel’s operational capabilities and enhance its market competitiveness.

The broader strategy behind this investment seeks to revamp Uganda’s telecom industry and attract foreign investment.

By aligning with the country’s regulatory framework, the government hopes to create a more dynamic and competitive telecom landscape.

In line with Ugandan regulations, UTel is required to list at least 20% of its shares on the Uganda stock exchange within two years.

This move aims to ensure transparency and public participation, a practice already adopted by major players like MTN Uganda and Airtel Uganda.

ElimuTab, founded in 2022 by Anthony Kahinga and Grace Wairimu, is pioneering the development of locally tailored educational tablets designed to enhance learning outcomes for Kenyan students.

ElimuTab’s tablets come preloaded with a comprehensive suite of educational resources, including curriculum-approved e-books, engaging apps, and interactive content.

These resources are carefully curated to support students in preparing for exams, reviewing core subjects, and even learning the basics of coding.

David Kleiterp, co-head of investments at Untapped Global, expressed his enthusiasm for the investment, stating, “Our mission is to empower impact-driven SMEs in emerging markets, and ElimuTab perfectly aligns with this goal. By providing affordable, locally-relevant educational tablets, they are democratizing access to quality education in Kenya.”

Kleiterp further emphasized the importance of education in driving economic empowerment, highlighting that ElimuTab’s innovative solution is addressing a critical challenge on the African continent.

“This investment is not just about a product; it’s about opening doors to a brighter future for countless students across Kenya,” he added.

Untapped Global’s investment in ElimuTab underscores its commitment to supporting local innovation and scaling solutions that have a positive impact on communities.

By investing in such startups, the firm is contributing to the transformation of Africa’s economy and ensuring that future generations have the opportunity to thrive.

The investment will help the company expand its operations across Africa and develop new financial services offerings.

Workpay, formerly known as TozzaPlus, provides cloud-based HR management and payroll solutions for small and medium-sized businesses in Africa.

Its tools help businesses save time and money by eliminating inefficiencies associated with cash payments and ghost workers.

The latest funding round follows a previous $2.7 million pre-Series A raise earlier this year.

Other investors participating in the Series A include Visa, Y Combinator, Saviu Ventures, Axian, Plug n Play, Verod-Kepple Africa Ventures, and Acadian Ventures.

“Our goal is to become the go-to solution for employers and employees in managing HR, payroll, and work-related benefits,” said Paul Kimani, CEO of Workpay.

“This raise will support Workpay to reach profitability, a huge milestone for our company.”

Ngetha Waithaka, general partner at Norrsken22, expressed confidence in Workpay’s potential to revolutionize HR and payroll management in Africa.

“Africa boasts one of the largest working-age populations in the world, and they remain grossly underserved by existing HR and payroll tools,” Waithaka said.

“With the addition of integrated financial services, Workpay’s potential for growth is immense.”