- Founders Factory Africa (FFA) and Netcare have joined forces to design, build and scale over 35 healthcare startups across Africa.
- As part of the Netcare investment, African health startups can apply to join the Founders Factory accelerator programme, and entrepreneurs can apply for the incubator to build a new concept from scratch.
- A full-time team of over 40 digital and technical experts across Johannesburg, Nairobi, Lagos and London will build and grow the startups across Africa.
- Standard Bank was the first corporate to invest in Founders Factory Africa, focusing on growing fintech startups on the continent.
Founders Factory Africa (FFA), the Johannesburg-headquartered, corporate-backed tech accelerator and incubator, has partnered with leading South African healthcare provider, Netcare, to provide a platform for entrepreneurs to build and scale health-tech startups across Africa.
The FFA model includes its accelerator programme, which develops existing businesses through a bespoke six-month programme, whilst the incubator programme will build completely new businesses focused on addressing key health issues on the continent. FFA's experienced and knowledgeable pool of talent will cover all aspects needed to scale its startups including product development, UX/UI, engineering, investment, business development and growth marketing.
Pic: Richard Friedland, CEO of the Netcare Group
Together FFA and Netcare will support investee companies and deliver innovative opportunities in healthcare in South Africa and in selected areas on the African continent. Netcare and Standard Bank will also work together to cross-collaborate across FinTech and HealthTech. Standard Bank was the first corporate to invest in Founders Factory Africa.
Netcare will play an integral role by providing access to hospitals, primary healthcare clinics and healthcare value chains, deep health technical expertise, data and IP to the startups. These resources and expertise will deliver a significant advantage to the businesses in which FFA, including Netcare, select to invest and scale. Netcare will also have the opportunity to continue investing in the new health businesses once their value propositions are proven.
Richard Friedland, CEO of the Netcare Group, says: "This exciting initiative enables us to stimulate healthcare innovation and development in South Africa and across the rest of the continent. We are proud to be joining Founders Factory Africa in creating a support system for entrepreneurs which will help them grow innovative healthcare businesses and will provide value to people across Africa, while also unlocking future investment opportunities for Netcare."
Roo Rogers, Co-Founder and CEO of Founders Factory Africa, says: "We are incredibly proud to partner with Netcare. Together we will unlock groundbreaking opportunities in accessing affordable healthcare. We will deliver digitised healthcare solutions and contribute to spearheading Africa's innovation in healthcare. The time, the opportunity, and the need is now, for driving Africa's health-tech to improve the lives of millions of people."
In addition to the corporate and hands-on support from FFA, the participating startups will have access to global capital, talent and knowledge transfer through the Founders' group that includes Founder Factory in the United Kingdom, and a network of world class entrepreneurs, investors, corporates and successful startups across Africa, Europe, the UK and the United States.
For more information please email [email protected], or Mariam Iqbal, Head of Ecosystem Engagement, at [email protected], or Melanie Da Costa, Director of Strategy and Health Policy for Netcare at [email protected].
About Founders Factory Africa
Founders Factory Africa is building and scaling 140 technology startups across Africa over the next five years. Launched in 2018 and headquartered in Johannesburg, South Africa, Founders Factory Africa is building the best growth engine for startups on the continent.
Our unique model provides the best support for startup founders. We combine the smarts and experience of local and international technical specialists, access to a global network of investors and exclusive partnerships with the world's most forward thinking corporates. Locally grounded and globally connected, we source our entrepreneurs, IP, investments, and talent from across the world to deliver solutions to over 800 million people in 49 sub-Saharan countries.
Founders Factory Africa creates eight new startups every year. We validate ideas, build founding teams, find first customers and invest directly in each startup. Our accelerator invests and scales 35 startups every year. We invest cash, six months of bespoke support from our team and provide commercial opportunities with our investors.
For further information, go to www.foundersfactoryafrica.com
Netcare (JSE: NTC) operates the largest private acute hospital, primary healthcare, emergency medical services, psychiatric hospital and renal care networks in South Africa. In addition to its world-class acute private hospital services in SA, Netcare provides cancer services including radiosurgery, radiotherapy, chemotherapy, bone marrow transplantation and robotic-assisted surgery; primary healthcare services through Medicross; emergency medical services through Netcare 911; occupational health and employee wellness services through Netcare Occupational Health; mental health and psychiatric services through Akeso; and renal dialysis through National Renal Care (NRC).
Netcare also has the distinction of being a leading private trainer of emergency medical and nursing personnel in the country. Netcare's core purpose is to provide person-centred health and care, that is digitally enabled.
Netcare's core value is care. From this value flow four others, namely dignity, participation, truth and passion. We work hard to entrench these values in every action, decision and intervention we take with our patients, their families, our colleagues and communities.
For further information on Netcare please visit www.netcare.co.za.
About Founders Factory
Founders Factory was built by Brent Hoberman and Henry Lane Fox in 2015. Their experience covers co-founding and selling lastminute.com for over $1bn, co-founding Made.com, creating Founders Forum and investing in notable startups such as OneFineStay, GetYourGuide, Alan Health and Onfido. FF has developed a unique accelerator and incubator model that can help corporates make seed investments, work with transformative startups and also create new startups from scratch. Investors include: L'Oreal, easyJet, Aviva, CSC, GMG, M&S, Holtzbrinck. To date FF has hired 70 people, invested in 90 startups and created a further 30 startups from scratch. Our startups have completed +150 pilots with our partners (33% converting to enterprise contracts) and have raised over £160m in further capital.
For further information, go to www.foundersfactory.com
Issued by: MNA on behalf of Netcare and Founders Factory Africa
Contact: Martina Nicholson, Graeme Swinney, Meggan Saville or Estene Lotriet Vorster
Telephone: (011) 469 3016
Email: [email protected], [email protected], [email protected] or