Get Guardian on GoogleAfrican Diaspora Network (ADN) and Myriad USA have announced the launch of the African Diaspora Innovation Fund (AfDIF).
The announcement was made during the 10th anniversary of the African Diaspora Investment Symposium (ADIS25), held at George Washington University in Washington, D.C.
Despite Africa’s wealth of resources and entrepreneurial potential, the continent continues to face systemic challenges, including high unemployment and limited access to capital.
AfDIF says it seeks to support up to a dozen high-impact African and African-descendant social entrepreneurs yearly with grants of up to $25,000.
“These entrepreneurs will be selected from a strong pipeline of candidates working across critical sectors, such as education, health, youth empowerment, and climate resilience.
According to the Fund, donors are welcome to contribute any amount. Those who give $500 or more will be invited to participate in a donor-driven voting process to help select the finalists.
Through this transparent model, AfDIF enables donors and communities alike to back changemakers, who demonstrate the potential to create meaningful and lasting impact.
“Africa’s entrepreneurs are its boldest changemakers and innovators. That’s why I am proud to back them through the African Diaspora Innovation Fund,” said Romi Bhatia, Venture Partner at Jedar Capital. “It’s a wonderful new initiative by ADN to empower the African diaspora—and friends of Africa like me—to channel their resources to achieve the social impact we all seek.”
