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Adam Molai’s JUA Kickstarter Fund Launches $1M Funding for Entrepreneurs

African Industrialist Adam Molai established the JUA Kickstarter Fund to inspire and boost Africa’s entrepreneurial generation and also encourage African entrepreneurs to create innovative solutions that change the entrepreneurial landscape in Africa.

The JUA Kickstarter offers successful applicants startup capital funding can now grow and blossom their startup profiles.

While explaining the motivation behind the JUA Kickstarter Fund that will showcase the capacity of African innovative solutions in a press statement, Adam Molai said,

“Without entrepreneurs, economies cannot grow and countries cannot advance. But African entrepreneurs, unfortunately, do not get the support they need to thrive for some reasons yet Africa is full of enterprising people. Wherever there is adversity, there is an opportunity. Africa is rife with adversity,  wherever you turn business prospects are in abundance.”

Molai continues that, entrepreneurs spell out solutions to societal problems, whilst creating space for community advancements. He feels Africa is more open with a lot of opportunities than one would find elsewhere. He promises to do everything in his power to ensure that this potential is cultivated and unleashed.

SEE ALSO |  Tunisia Ranked 1st in Africa in 2018 Global Entrepreneurship Index
About the JUA Kickstarter Fund
JUA Kickstarter

SMMEs and entrepreneurs have been hit hard and have struggled to secure capital as a consequence of the COVID-19 pandemic.

The traditional method of gaining access to funding from banks requires that entrepreneurs bring collateral, and as the pandemic has now caused a drastic decline in incoming revenue, a lot of entrepreneurs cannot seek loans or funding from banks, thus leaving negative ripple effects of debit on their cards.

Another challenge bugging Molai which he hopes to address through JUA Kickstarter Fund is mentorship for Entrepreneurs.

Molai said that investors tend to lean more towards investing in the entrepreneurship environment of Africa if entrepreneurs show confidence in their capabilities.

He said, “When people see Africans investing in our own environment, they feel more confident to invest alongside us. Confidence breeds confidence. And I am nothing if not confident in the future of Africa and in what we can collectively achieve.”

The fund will not only give successful applicants funds to kickstart or grow their enterprises but it will also offer them guidance and mentorship.

SEE ALSO |  GreenWorks Program to Fund 30 Founders Promoting Green Economy in North Africa

Successful applicants get their funds in 12 weeks’ time upon being shortlisted as the application process is done electronically.

Interested applicants can apply here.

credit: techbuild.africa

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9 Startups Accepted into the First Next Health Accelerator with $15K Seed Funding

Next Health Accelerator
image courtesy: Valorigo

Intrepid Entrepreneurs, a non-profit designed to catalyze the power and promise of young people and women to fundamentally advance their societies, recruited nine startups for the inaugural cohort of the Next Health Accelerator.

Female, African entrepreneurs with a minimum viable product (MVP) from 26 countries applied to the program. After a rigorous review process, nine startups from seven countries were selected to begin the program in March 2021. The investor readiness accelerator is six months long and includes $15,000 seed funding, international mentors and partners, business support services, and value chain access.

The Next Health Accelerator’s focus on sexual and reproductive health is founded on the premise that unmet needs for sexual education, menstrual hygiene management, family planning, medication abortion, and STI diagnosis and treatment will be most sustainably delivered by local African enterprises.

Sexual and Reproductive Health issues directly affect 300 million women and girls on the continent and the productivity of the entire continent. For the continent to prosper and support its burgeoning youth population, it must harness the demographic dividend with access to equitable healthcare and economic opportunities. Next Health Accelerator addresses both.

Next Health Accelerator

The 2021 cohort includes:

  • Rocket Health: Provides telemedicine and pharmacy services for SRH needs including convenient lab test retrieval and medication delivery in Uganda
  • Verifie: Delivers STI self-tests and treatment products via doorstep delivery in Ghana
  • Pharmaserve: Specializes in delivering high-quality pharmaceuticals in Nigeria through a fully integrated inventory monitoring system
  • Girls Pride: Provides menstrual hygiene management education and skills training to create reusable pads in The Gambia
  • Pad-Up Creations: Employs over 100 people in Nigeria to produce single-use, chemical-free pads sold in 16 countries
  • Valorigo: Manufacturers single-use sanitary eco-friendly pads made from locally grown bamboo in the Congo
  • The Grace Cup: Delivers SRH education and reusable menstrual cups in Kenya
  • Kosmotive: Provides SRH information and access to SRH self-care products in Rwanda
  • Massira: Delivers SRH information interactively as well as access to SRH services and products through an online community in Ghana 
SEE ALSO |  Winners Of 3rd Edition of AppsAfrica Innovation Awards Announced

Lindsey Simmonds, the Co-founder of Intrepid Entrepreneurs in a press statement said,

“After 15 years in philanthropy, I believe now more than ever that it is women who will solve women’s health challenges and it is Africans who will solve Africa’s development challenges.”

She continued that, development policies made in Washington, D.C. or London need to make room for the power and promise of the youth and women on the African continent. And on this premises, their Next Health Accelerator catalyzes African startups to investor readiness to make scalable, sustainable impact imbued with the commitment and determination that only comes from homegrown ideas.

Visit the intrepidentrepreneurs.org to learn more about the Next Health Accelerator 2021.

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