At Villgro Africa, we have been dedicated for many years to working toward gender equity in the innovation space, starting with our own organisation and then applying that to the companies we support as well as the ecosystem as a whole.
Despite seeing some progress, we have continued to notice that we are not reaching female founders as effectively as we would like. With this in mind, we have launched several research efforts to learn more about the perspectives of women entrepreneurs, test some of our assumptions, and design programs that effectively support female founders. One of these studies was conducted specifically around women in AI health startups, while the other was looking at women-led healthcare startups more generally.
Along with conducting desk research on the status of female entrepreneurs in the African innovation space, our team conducted a perception study to understand the unique barriers and opportunities from women's perspectives. These studies will then inform the design and outreach strategies of our support programs, helping to ensure we are responsive to the real needs of female entrepreneurs.
Statistics from recent reports highlight a stark imbalance: female founders raised only $201 million compared to $2.7 billion by their male counterparts in 2023. This disparity underscores the systemic challenges women face in securing funding for their ventures. Villgro Africa's experience reflects this trend, with women-led applications comprising only a small fraction of the total received from a pan-African call for proposals. This is even more stark in the case of AI companies.
The studies we conducted revealed several key challenges faced by female entrepreneurs. First of all, women communicated that they often faced challenges from the earliest stages, including struggling with the application processes of incubation support programs like Villgro Africa’s. Many women highlighted the persistent difficulties in securing adequate funding, despite increasing attention to gender-lens investing. Female entrepreneurs also often feel the need to adopt a hardened approach, which can be contrary to their natural dispositions and negatively impact their wellbeing. A lack of family support and structured networks were also identified as significant barriers. Many women feel isolated and interview respondents communicated the desire for better support systems in order to thrive.
Using the valuable information gained from these studies, we started by launching a call for women-led African healthcare startups and designed both the call and the programme itself through the lens of our research results.
A significant aspect of Villgro Africa's support is building a strong community around female entrepreneurs. This includes things like annual meetups, which will be physical gatherings where women-led companies in our portfolio can network and share experiences. We are also creating online communities on platforms like WhatsApp or LinkedIn to facilitate continuous engagement and support in between in-person interactions.
We will also have themed fireside chats, insight circles, and masterclasses that cover critical topics such as investor readiness, mental health, and product development. This will be paired with catch-up calls with portfolio managers and masterclass facilitators, as well as mentor to mentee engagement where entrepreneurs can ask questions and receive valuable information and encouragement.
In the future, there will also be more AI-focused funding calls, which will factor in these research results and any other learnings that come from the women-led call currently underway.
Our ongoing efforts as Villgro Africa to support female entrepreneurs in the healthcare sector are crucial to fostering innovation and addressing healthcare challenges across the continent. By providing tailored support, fostering community, and addressing systemic barriers, we are hoping to encourage more inclusive and effective healthcare solutions led by women.
Our commitment and innovative approach offer a model that we hope will inspire similar initiatives globally, ensuring that female entrepreneurs receive the recognition, support, and opportunities they deserve to make a lasting impact in healthcare.
Download the complete Supporting Women-Led Healthcare Startups in Africa report.
Download the complete Convening & Supporting African Women in AI report.