Viva Technology and the International Finance Corporation (IFC) today announced the top 45 startups long-listed for the second edition of the AfricaTech Awards, a pan-African initiative recognizing companies driving innovation and development impact across the continent.
The startups were selected by knowledge partner Deloitte from a pool of more than 380 applicants – up 30% from the first edition in 2022. The Fintech category received the highest number of applications (143), followed by Climate Tech (124) and Health Tech (115). Nigeria, Kenya, Egypt, Tunisia, and South Africa have the highest participation rates among the 33 African countries represented. This year, 91% of the applicants have at least one woman on their board.
“At a time when startups have needed the most support, we are proud that the AfricaTech Awards are promoting the unique vibrancy of the African tech ecosystem to the world. These 45 identified startups are evidence that Africa is playing a leading role in Health Tech, FinTech, and Climate Tech; the AfricaTech Awards have been designed to help them reach their full potential.” explain Viva Technology Co-Presidents Maurice Lévy and Pierre Louette, and Managing Director François Bitouzet.
The 2023 AfricaTech Awards are part of IFC’s strategy to strengthen tech ecosystems in emerging markets and help innovative startups scale. IFC recently announced a $225-million venture capital platform to support tech entrepreneurs across Africa, the Middle East, Central Asia, and Pakistan. IFC also expanded the IFC Startup Catalyst Program by $60 million to help seed funds, incubators, and accelerators finance and mentor early-stage startups and prepare them for later-stage investment.
“Tech startups play a key role in emerging markets by supporting economic growth and scaling innovative solutions to pressing development challenges. Yet many of them go unnoticed by international investors,” said Makhtar Diop, IFC’s Managing Director. “The AfricaTech Awards offer tech entrepreneurs in emerging markets a global stage that can help them connect with the investors, mentors, and partners they need to scale their innovations across the continent and beyond. That is why IFC is a strong supporter of this initiative.”
In the next stage of the selection process, a panel of industry experts will identify the top three startups in each category, which will be invited to join Viva Technology 2023, to be held from June 14 to June 17 in Paris. The winners of the AfricaTech Awards will be announced on Viva Technology’s main stage.