World Bank Announces TechEmerge Program Offering $1 Million for Blockchain and Emerging Healthcare Tech Products in East Africa.
Just in, World Bank Announces TechEmerge Program Offering $1 Million for Blockchain and Emerging Healthcare Tech Products in East Africa.
World Bank is looking to fund healthcare innovators using the new emerging technologies to solve healthcare issues. Blockchain startups utilizing the new tech to offer healthcare service are encouraged to apply for seed funding.
The program dubbed TechEmerge Health East Africa was flagged off at CES 2020. The program is a part of a World Bank Group (WBG) – CES Global Tech Challenge, pioneered by International Finance Corporation (IFC).
The TechEmerge program helps to bring emerging technologies to new markets in other to drive real healthcare innovation in east africa and beyond.
This can be achieved by matching the best, proven and affordable technologies around the world with local partners in emerging markets to experiment pilot projects and build commercial partnerships.
IFC provides support during the market-entry and tech transfer process for both innovators and healthcare providers – mitigating financial and operational risks associated with market entry for innovators and reducing adoption risks for local healthcare providers.
The TechEmerge program has seen support from over 20 leading private healthcare providers in Kenya, Uganda, and Ethiopia. They are willing to work with the healthcare service innovators that can address their healthcare issues.
The TechEmerge program will go through a competitive selection process, with the support of an open network of external technical advisors.
The shortlisted innovators will meet with local organizations to pitch their products and discuss potential pilot opportunities.
With the support of the organizing party, selected products and local healthcare providers will partner to test and verify technologies in the local setting.
Criteria For Application according to TechEmerge Program:
- Proven product, installed with at least one health system.
- Privately owned company, typically with less than 50 employees and less than US$100M in venture capital funding (with some exceptions).
- Meets the needs of the East African Healthcare Providers.
- Demonstrated managerial capacity and scalability
- Ability to allocate time and resources to participate in the Project, including attending periodic meetings, and implementation of field testing/pilot project in East Africa