Innovation Challenge 3.0
Every year, the IASPharma identifies and rewards individuals with impactful innovations across the manufacturing and digital health sectors. There is no doubt that there is a paradigm shift in healthcare with exponential growth in technologies driving the change in making care delivery less expensive, more efficient, and more accessible.
To achieve its ambition of innovative healthcare solutions and access to effective treatments in Africa, IASPharma2023 is open to innovations to drive medical research and development, leveraging potential groundbreaking solutions.
In furtherance of advancing the development of innovative solutions, IAS is hosting an innovation challenge pitch session for the period leading to the finale at the IASPharma2023. Individuals with compelling breakthrough solutions based on scalability, effectiveness and business sustainability will have access to up to NGN20,000,000 in equity investments.
Innovation Challenge 2.0
Innovation Categories Scope
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 underlisted sub-topics
a) Business Description – what your business does (product/service offering, target customers, repeat revenue generation strategy) and the legal framework.
b) 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.
c) Business Objectives- financial (revenue, profit, and ROI) and non-financial (size, location, product lines) goals for your business in the next 3-5 years
d) Milestones- specific projects (marketing, product development, operations) you expect to complete by certain deadlines (next 6 months – 5 years),
e) Funding requirements – so investors know how capital will be utilized.
f) Business history and forecast- where you are in the business cycle and next steps.
g) 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
Registration
To register as a participant, simply fill the form below and ensure you attach your Slide Deck/Business Case/Company Profile.
Innovation Challenge Pitch Takes Place
Venue: S&B Tejuosho Estate, Ogunsiji Close, Allen Avenue Ikeja, Lagos
Date: 11th November 2023
Time: 8am – 6pm WAT
Please note that the deadline for the Submission of all required documents for the Innovation challenge is 31st October 2023. Also, participation is strictly by invitation and the top 15 applicants will be shortlisted for the event.
