By Ferdinand Olise
A Nigerian health-tech company HubPharm Africa has emerged the winner of the second ECOWAS Startup Awards held recently in Abuja.
The company, co-founded by licensed clinical Pharmacists Tope Kareem, emerged overall winner after competing with four other finalists from across West Africa, and wining the top prize of $30,000.
Senegal’s Gaynako came second winning the sum of $20,000, while Côte d’Ivoire’s My Opinion grabbed third and received $15,000.
Other finalists were Baykart from The Gambia and Afrikan Coders from Cape Verde.
According to ECOWAS, the top three winners will also have access to potential investment deals worth $5 million through investor deal rooms.
Presenting the awards on behalf of the President of the ECOWAS Commission, the Commissioner for Economic Affairs and Agriculture, Dehpue Zuo, said the awards were designed to recognise innovations capable of addressing major human development challenges beyond national borders.
He encouraged other startups to develop solutions capable of responding to global needs, particularly in health and human development.
The Acting Director, Private Sector and Industry at the ECOWAS Commission, Mr.Peter Olonye, said the Commission will monitor how the winners deploy the prize money, and also track the progress of their businesses over the next two years.
He also announced three initiatives to further support startups, which are; the ECOWAS Private Sector Development Academy, an e-learning platform for entrepreneurs; the ECOWAS Startup Network, aimed at promoting regional partnerships and market access; and initiatives to improve access to venture capital and investor networks.
According to him, the programmes will help startups strengthen their business models, improve investor readiness and build capacity to raise finance.
He therefore commended partners including GIZ, the International Trade Centre, Ecobank and innovation hubs for supporting the awards, which he said began two years ago.
Meanwhile, the overall winner, Kareem thanked ECOWAS for recognising young African innovators, stating that the competition had exposed her to new ideas, partnerships and potential investors from across the region.
Kareem, a licensed clinical pharmacist with more than 13 years of experience in pharmacy operations, supply chain management and patient services, said HubPharm’s clinical operations and medicine supply chain currently serve more than 10,200 chronic-care patients across Nigeria and 11 other countries.
She said HubPharm can expand its operations through partnerships with startups in other countries, rather than establishing a physical presence in every market.
