About Innovation Challenge

Healthcare

Sub-Saharan Africa bears a large percentage of the global disease burden in addition to the sheer shortage of healthcare professionals. We are seeking disruptive but efficient and sustainable innovative solutions to address the gaps and increase access to healthcare in Africa

Biotech

Funding is a big impediment to the Biotech industry and our aim is to enable meaningful biotech development. We are seeking innovations that directly contributes to the increasing demand for healthcare devices that are conducive to low resource environment.

IT/Digital Health

We are on the lookout for digital and tech enabled tools that can connect people to treatment, support and care and improve health outcomes at the grassroots level of primary healthcare.

Manufacturing/Supply Chain & Logistics

The increasing gap in Africa’s overall healthcare manufacturing explains lack of access to essential devices & products. We seek innovations that can support the local manufacturing and supply chain industries with effective in-country distribution systems that promote access to sustainable systems and equipment.

Our Motivation

To be an enabler and champion of complex clinical research and healthcare solutions. Provide financial support for compelling ideas among intellectual innovators. Create, train and mentor a pool of experienced and committed leaders who will provide strategic expertise and perspective for the health care sector.

Benefits To Winners

• The best innovators will get access to Xcene Research’s network and value chain, allowing them to further develop and grow their value proposition.
• Product development, distribution, and business modelling will be supported through NGN20,000,000.00 in equity investments for select businesses.
• Mentorship and support from Xcene Research as well as industry leaders in the chosen business industry.
• Recognition and exposure during the IAS 2023 event and on the IAS website.
• The winners will also have access to Xcene Research’s customer base and employee expertise to further bolster their operations.

Selection Criteria

• Businesses may operate in but not limited to the Financial Technology, E-Commerce, Education, Manufacturing and Agricultural sectors as it relates to the Healthcare Industry.
• Provision of total business valuation, percentage and valuation of shareholder equity up for financing.
• Business must have been in existence and duly registered with the Corporate Affairs commission for at least 3 years.
• Entries must demonstrate the potential for scale from proof of concept to long-term sustainability.
• Candidates must provide a corporate account with a commercial bank, statement of financial position and profit and loss statement for the last 3 years.
• Provision of concise business plan with 3–5-year business projection.
• Signed permission from your partners and/or shareholders.

Pitch Details

• Name of your business, what it does, when it was founded, and what is most fantastic about your business idea or value proposition.
• The problem your product or service addresses.
• Your main product or service offering, how it functions, and why it is valuable
• How do you intend to earn money and generate revenue?
• Market size for your product or service offering.
• Your competitors and the competitive advantage you enjoy over them.
• Your target market, your strategy for reaching them, and the business partners you have that can help you scale up more quickly.
• Your human capital and their extensive technical and market knowledge on how to execute the business’ value proposition.
• Milestones you have achieved in business, technology, or the milestones that demonstrate the viability of your value proposition.

What to Bring

- Full upscaling Business Plan/Proposal with the under listed sub-topics

• Business Description – what your business does (product/service offering, target customers, repeat revenue generation strategy) and the legal framework.
• Vision and Mission Statement- reason for being in business (core purpose – problem the business is trying to solve, for whom – primary target audience, and core expertise – what capability makes you unique) – mission; and what you want your business to look like in the future – vision.
• Business Objectives- financial (revenue, profit, and ROI) and non-financial (size, location, product lines) goals for your business in the next 3-5 years.
• Milestones- specific projects (marketing, product development, operations) you expect to complete by certain deadlines (next 6 months – 5 years).
• Funding requirements – so investors know how capital will be utilized.
• Business history and forecast- where you are in the business cycle and next steps.
• Stipulation and valuation of how much equity the company is willing to cede.

- Signed consent of partner(s) and or shareholders

- CAC certificate/Proof of business ownership

- Financial Statements