May 2024
The African Impact Challenge (AIC), hosted by the University of Toronto Scarborough (UTSC), continues to empower African entrepreneurs with the tools and networks necessary for success.
The AIC was first launched by the African Impact Initiative in March 2020, with the goal to support youth in addressing local problems with innovative solutions. By 2022, the AIC partnered with the Mastercard Foundation and the Africa Higher Education Health Collaborative (Health Collaborative) to expand its global impact and reach. A new stream of the AIC emerged, dedicated to health entrepreneurship, as part of the Health Collaborative Health Entrepreneurship (HENT) Pillar. With this new partnership, the AIC is thriving on the synergy between diverse institutions and thought leaders.
With exponential growth over four years, the HENT-AIC recently concluded its largest enrolment yet, welcoming over 2,700 founders and 1,400 ventures for their 2023 programming. The application pool for the 2024 cohort saw submissions from more than 40 African countries, underscoring the program’s global influence and reach.
Delegates representing the 10 finalist ventures of the 2023 HENT-AIC Cohort will begin their entrepreneurship residency at the University of Toronto Scarborough in June 2024. The summer visit will be collaboratively hosted by UTSC’s The BRIDGE as well as U of T accelerators ICUBE and Health Innovation Hub (H2i). The accelerators, all part of the Africa Higher Education Health Collaborative, look forward to the visit—with the enriching experience and successes of the HENT-AIC summer 2023 visit, clear in their memories.
“The 2023 residency highlighted the power of cross-cultural collaboration in creating meaningful impact,” said Celestine Nema, Project Coordinator at The BRIDGE, University of Toronto Scarborough. “It not only provided a platform for young African founders to learn, collaborate, innovate, and thrive within an international landscape, but it also enriched the entrepreneurship ecosystem in Toronto with diverse perspectives and meaningful partnerships that bridge continents and cultures.”
The summer 2024 visit will continue to offer a broad scope of programming hosted by the three U of T accelerators, including intensive mentorship, strategic workshops, and networking events. These activities will culminate in a showcase event where participants present their ventures to investors and community members, gaining invaluable exposure and feedback.
UTSC Management graduate Efosa Obano (BBA 2018), who co-founded the AIC and now manages the U of T Black Founders Network, says that the path forward depends on continuing to build and enhance partnerships with organizations and thought leaders who recognize the value of investing in African youth and empowering them to solve problems through impact entrepreneurship.
“Every time we’re able to tell our story, we can connect people who believe in what we're trying to do. It’s a part of my life journey. I take it very close to heart,” Obano said.
As UTSC and the Health Collaborative plan for the summer, they remain dedicated to fostering sustainable solutions and transformative opportunities for its participants, further solidifying its impact on the global entrepreneurial landscape.