With one in two people lacking access to essential healthcare, leveraging innovation and developing new models for scaling access to healthcare is critical. Health entrepreneurship, particularly women-led models, is fundamental to addressing this gap. WiNFUND is on a mission to transform healthcare access to the most vulnerable by leveraging the power of female entrepreneurship. It advocates for equitable access to financing and invests in the power of women-led startups addressing global health challenges.

WiNFUND is more than just a financial partner; it’s a movement to amplify women’s voices in healthcare innovation. By supporting female-led initiatives, they seek to drive meaningful change in the health sector while promoting gender equity in entrepreneurship.

The non-profit initiative is searching for ambitious and innovative women entrepreneurs whose solutions are already making a difference in healthcare across Africa. Here are the key criteria:

• Ventures must be women-led, emphasizing the power of women in shaping the future of healthcare.
• Solutions should directly address access to healthcare in Africa, tackling pressing challenges such as affordability, availability, or quality of services.
• Applicants should be operating ventures at the revenue stage, ready to scale, and able to demonstrate their investability.
• WiNFUND values innovative and sustainable business models that ensure long-term success while delivering measurable social and economic benefits.

Selected entrepreneurs will receive up to USD$250,000 (approx. UGX925.5 million) in funding. This significant financial boost is designed to help ventures scale their solutions, reach more communities, and achieve greater impact.

The prize goes beyond financial gain —as WiNFUND opens doors to an expansive network of industry partners, investors, and other entrepreneurs. This ecosystem is vital for building collaborations, securing additional resources, and navigating the challenges of scaling a business. In addition, WiNFUND provides bespoke support to help businesses thrive. From strategic guidance to operational advice, entrepreneurs gain access to the tools and expertise needed for sustainable growth.

WiNFUND’s initiative has already demonstrated the transformative potential of supporting women entrepreneurs. Previous funding cycles have enabled startups to expand their reach to underserved communities, innovate & scale solutions that improve maternal health, chronic disease management, and health education, and build sustainable models that attract additional funding and partnerships.

Women play a critical role in Africa’s healthcare ecosystem, often as caregivers, nurses, and community health workers. However, their contributions as innovators and entrepreneurs remain underrepresented. Supporting women in leadership positions ensures diverse perspectives in problem-solving, leading to more inclusive and effective healthcare solutions.

The WiNFUND initiative is a remarkable example of how technology and innovation can drive social impact, especially in the healthcare sector, which is critical for the growth and development of any nation. By supporting women-led health startups, WiNFUND is empowering women entrepreneurs to solve complex healthcare challenges, create jobs, and make a positive difference in their communities —in other words, it’s fostering systemic change that benefits entire communities.

WiNFUND is partly financed through the sale of WiNFUND non-fundable tokens (NFTs) designed by Rwandan artist Christella Bijou. The collection has been supported and made available in close collaboration with Tokenproof.

The deadline to apply for the fund is December 13, 2024, at 3pm CEST (5pm EAT). APPLY HERE (LINK)

The post Women-led Health Innovations Across Africa Invited to Apply For WiNFUND appeared first on PC Tech Magazine.

“We’re excited to launch the fourth edition of The Future is Female Mentorship Program with Allison + Partners,” Claudine Moore, The Program’s Founder, said in a press statement. “We are also delighted to collaborate with Google Africa and their Women Founders Africa Program, and Salesforce, who will be hosting a session on VC funding with the selected finalists of the program.”

The Future is Female Mentorship Program effective today is accepting applications (CLICK HERE TO APPLY) until Monday, June 26th, 2023 from all interest Africa female startup founders. The successful founders to join the program will be announced on Tuesday, July 25th, 2023.

With their collaboration with Google Africa, selected alumni from the Google for Startups Accelerator: Women Founders Africa Program will also take part in the Future is Female Mentorship Program.

Aligning with the goals and objectives of the Future is Female Mentorship Program, the Google for Startups Accelerator: Women Founders Africa Program also aims to empower and support women founders in Africa by providing resources and opportunities to scale their startups and address African problems.

“We are excited to be collaborating with The Future is Female Mentorship Program as it aligns with the mission of the Google for Startups Accelerator: Women Founders Africa Program to support and empower women founders building great tech startups in Africa or for Africa,” said Folarin Aiyegbusi, Head of Startup Ecosystem, Sub Saharan Africa. “By increasing the representation of women in the startup ecosystem, we can help bridge the gap between the number of women-led startups and the amount and quality of support they receive, ultimately leading to more diversity and innovation.”

The fourth edition of the program also welcomes the Salesforce Ventures Impact Fund which will support the program by hosting a session on VC funding for the selected female founders from across Africa. Salesforce Ventures Impact Fund has an active interest in Africa and continues to assess opportunities across the Continent. The fund has invested in some of the region’s top Africa-focused tech startups including Flutterwave and Andela.

Techcabal alongside Africa Communications Week, a global platform that builds bridges between communications professionals focused on Africa’s transformation will return for the third consecutive year as official partners of the program. Tope Adubi and David Idagu will join the program’s founder, Claudine Moore as the lead mentors.

What the 2023 Program Offers
Delivered virtually, and the mentees are invited to participate in masterclasses and sessions customized to the specific needs of their sector and business. African female founders will learn insights into VC funding, public relations and communications, storytelling, media relations, and more.

During the selection process, special consideration is given to startups that focus on health, education, finance, agriculture, and sustainability. In addition, startups that provide solutions and/or address African women’s and girls’ needs will also receive special consideration.

How to Apply
The application portal for The Future is Female Mentorship Program is now open until June 26, 2023. Successful applicants will be announced on July 25, 2023 All women building great tech startups in Africa for Africans can APPLY HERE and take advantage of this opportunity.

The post 4th Edition of The Future is Female Mentorship Program Launched in Collaboration With Google Africa appeared first on PC Tech Magazine.

Breaking into the startup world is no easy feat under any circumstances — but for women looking to make a name for themselves as founders or CEOs? It’s an even bigger challenge altogether. Funding discrimination against women-led ventures means that female entrepreneurs frequently must bootstrap their businesses or take on less support than their male peers receive. But despite these systemic issues facing women-led businesses everywhere you look there are inspirational stories about strong-willed female changemakers shaking up industries they’re passionate about

So what are the challenges that female founders face in the startup world? Here are a few reasons. It is worth knowing that there are also many initiatives and organizations working to address these issues and support women in entrepreneurship.

Gender bias and discrimination

One of the biggest challenges faced by female founders in the startup world is bias and discrimination from investors, mentors, and potential business partners. A study conducted by PitchBook echoes these deeply concerning disparities, revealing that in 2020, investment dollars flowing to women-led companies accounted for a mere 3% of total venture capital across the landscape.

Female entrepreneurs to date still continue to experience discrimination from venture capitalists and investors as evidenced by multiple researches. The figures demonstrate how biases against women persist within the investment sector despite numerous efforts toward creating more inclusive systems. The persistent exclusion of women deprives them of critical resources and prevents them from unlocking their full potential as innovators.

This bias is not only limited to funding, female founders are often underestimated, not taken seriously, and also sometimes seen as “less competent” than their male counterparts —finding themselves dismissed as lacking necessary business acumen compared with male colleagues. As a result, they end up missing out on opportunities and chances to secure vital funding required for growing their startups.

Balancing work and family

Female founders are no strangers to hard work, but finding an equilibrium between business operations and family duties can be an arduous task. Running a successful startup demands devotion that often translates into lengthy workdays and erratic timetables.

Running a business is no easy feat, but female founders often have additional responsibilities outside of work that require their attention—namely, childcare and eldercare. This double-duty workload puts immense stress on individuals juggling both roles simultaneously and can take a mental toll in terms of overall burnout levels or the need to take a break from work. This can have negative consequences for the founder’s business, as well as for her personal life.

Amidst the hustle and bustle of daily life, many women will find themselves prioritizing their family responsibilities over their business in certain situations. But some will opt at hiring part-time caretakers such as nannies or enlisting the help of family members. Some experts suggest looking to support organizations built specifically for caregivers as a resource for navigating this challenge.

ALSO READ: MUST-HAVE GADGETS FOR WORKING FROM HOME

Stereotypes and gender expectations

Despite many strides being made toward creating more equitable workplaces across industries, stereotypes and gender expectations still dominate conversations about women’s abilities in the startup industry. These baseless notions have real consequences on how female leaders are perceived by investors, and peers alike — stifling their chances of success while amplifying doubts that belittle their efforts.

Female founders often find themselves battling against deeply entrenched stereotypes and biases. Some or not many are portrayed as “mompreneurs” or “side hustlers” by investors simply because they’re not perceived as “real” business leaders. In addition, they also face less coverage from media outlets than their male counterparts and they are expected to focus on feminine industries like fashion or beauty rather than high-tech or finance.

Limited access to networks

Restricted or limited network connections are another significant challenge that female entrepreneurs are facing in the bustling startup industry yet they are critical to the success of any startup, as they can provide access to golden opportunities including access to investors, mentors, and potential business, to mention a few who can help to drive growth and scale the business.

Women tend not to have the same level of access as men do when it comes to informal networking channels such as golf outings and post-work gatherings where critical connections can occur. Furthermore, women may lack introductions since they operate outside traditional male-dominated spheres where investors and partners gravitate toward people just like them.

Nevertheless, females are not equally represented in male-dominated sectors leaving them with few access points which could make it difficult for their businesses to grow. The impact of gender disparities on networking cannot be overlooked; it remains one of many obstacles facing female entrepreneurs making it more difficult to find the support and resources they need to succeed in the startup industry.

Lack of Access to Funding

In the world of entrepreneurship and innovation, financing plays an essential role in propelling new ventures forward. Nevertheless, when it comes to female founders trying to secure startup capital, they still face unequally low investment rates compared to their male counterparts.

Research has demonstrated a stark contrast in venture-capital-based fundraising: women-run startups received only about 2.3%, while men raised roughly around almost 98%. The critical causative factors could be speculated at lower accessibility and fewer traditional networks that provide avenues for obtaining venture capital funds.

Women seeking funding for their startups may face significant obstacles due to factors such as limited access to professional or informal networks, unequal treatment (including bias & discrimination), being perceived as less competent or less capable than male founders, and being less likely to receive introductions to potential investors or business partners, as they may not be part of the same social circles or professional networks as their male counterparts, among other reasons.

These issues can manifest themselves in concrete ways (such as being held to higher standards during pitch meetings) that ultimately make it harder for women-owned businesses to succeed.

ALSO READ: SEED, GRANT, AND FUNDING ROUNDS: WHAT IS THE DIFFERENCE?

It is also reported that women of color face even greater barriers when it comes to funding. According to the same Female Founders Fund study, only 0.2% of venture capital funding goes to female founders of color.

Despite the many challenges that female founders are facing in the startup world that is dominated by men, many successful female founders have overcome these obstacles and built thriving businesses. These successful businesswomen have challenged stereotypes and paved the way for more equality within the startup world.

However, it is still very important to address the barriers that female founders are facing in the startup world. It’s time we break free of this limiting mindset by providing equal opportunities no matter one’s gender. Increase access to funding, address discrimination, stereotypes & gender expectations, and build more support networks for the female founders.

By doing so, there will be the creation of a more inclusive and diverse startup ecosystem that benefits everyone.

ALSO READ: WHY SOME STARTUPS FAIL

The post The Challenges Faced by Female Founders in the Startup World appeared first on PC Tech Magazine.

Among the startups selected for the WiNFund include 4 Ugandan startups MamaOpe Medicals, CHIL AI Lab, Hospice Africa Uganda, and Peleyta Health. The 12 other startups are Cape Bio Pharms (South Africa), Ambulex Solutions (Kenya), Truthshare (Nigeria), Kisumu Medical and Education Trust (Kenya), PinkDrive NPC (South Africa), MikedCares LTD (Nigeria), Famasi Africa (Nigeria), Novo Health Africa (Nigeria), Ufasiri Halisi SLI Innovations LTD (Kenya), Safari Doctors (Kenya), Kosmotive (Rwanda), and Alma Clinics (South Africa).

CHIL AI Lab uses the power of machine learning and artificial intelligence to provide specialized, affordable, and medically proven chronic disease prevention and management services to women in Africa, the Middle East, and Europe, regardless of their location or income.

Peleyta Health is a digital healthcare micro-savings and lending platform that helps low-income earners prepare for and afford quality healthcare anywhere at all times. The startup enables one to save as low as UGX500 cumulatively dedicated to healthcare. The fund is utilized to offset medical bills or buy medicine anywhere at their registered healthcare facilities and pharmacies.

MamaOpe is a smart biomedical smart jacket that would distinguish pneumonia’s symptoms – temperature, breathing rate, and sound of the lungs – and eliminates most human error, diagnosing pneumonia at a rate three to four times faster than a doctor.

Hospice Africa provides palliative care to patients and palliative care training. In order to do this, they have created a model with their clinical headquarters in Uganda, where they manufacture morphine, treat patients and run education programs. The idea is that this model can be replicated and provide much-needed palliative care across all of Africa.

The WiNFUND initiative is a remarkable example of how technology and innovation can drive social impact, especially in the healthcare sector, which is critical for the growth and development of any nation. By supporting women-led health startups, WiNFUND is empowering women entrepreneurs to solve complex healthcare challenges, create jobs, and make a positive difference in their communities.

WiNFUND is partly financed through the sale of WiNFUND non-fundable tokens (NFTs) designed by Rwandan artist Christella Bijou. The collection has been supported and made available in close collaboration with Tokenproof. In addition, funding will also come from mission-aligned donors, partner organizations, and high-net-worth individuals.

The post 16 Women-Led Startups Selected For The WiNFund appeared first on PC Tech Magazine.