Of the applicants, Tech Lab Africa will select between eight and ten eHealth and fintech start-ups who are addressing existing challenges, and provide them with access to business mentors, industry leaders, influencers and experts from Barclays Africa, as well as their local and international corporate and institutional partners.
According to Barclays Africa, the areas of financial services and eHealth are being disrupted by new technologies, agile companies and innovative products and services, with non-traditional competitors penetrating the market and long-held competitive boundaries disappearing.
“In order to compete, Barclays Africa needs to connect, shape and scale with these new industry players. We are looking for big, fresh ideas that promise to shake things up – be this in the financial services industry, the health sector, or anywhere else,” said CIO at Barclays Africa, Ashley Veasey.
While Tech Lab Africa is interested in all types of technologies, their particular eHealth areas of interest include appointment scheduling and doctor discovery; diabetes management; drug and substance abuse testing; fertility and pregnancy tracking; medicine delivery; on-demand house visits; on-demand mental health; pharmacy delivery; pill tracking; and telemedicine assistance.
The programme objectives are to output a portfolio of ventures that Barclays Africa can potentially partner with; connect into the Barclays ecosystem; and acquire or make a capital investment into, among others.
The programme will also provide successful applicants with access to relevant data sets for use in proposition testing and build out; direct feedback from target user groups; strategy development and pitch coaching from expert VC mentors as well as senior Barclays Africa executives; and a Demo Day participation to showcase their technology to Barclays Africa executives, Barclays Africa Private Wealth clients, potential corporate customers, investors and journalists