Funding Sources for Medical Entrepreneurship in the Digital Age (African Perspective)

Badaru Abiola Abdul-Basit ()
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Badaru Abiola Abdul-Basit: Olabisi Onabanjo University

Chapter Chapter 8 in Medical Entrepreneurship, 2023, pp 121-131 from Springer

Abstract: Abstract This research paper extensively discusses both the machineries of the traditional system of sourcing for funds and innovation competitions. It adopts an exploratory research method of reviewing articles in peer-reviewed journals with the aim of presenting various sources of funds in African Medical Entrepreneurship (ME) and advancing knowledge on how ME is used for the double bottom line. The health work profession is opened to different sources of funds, while some are applicable to early stage start-ups, others are more relevant for fast-growth mature businesses. This paper also uses the sources of funds opened to entrepreneurs in Nigeria, Kenya, Tanzania, Uganda, and Ghana as prototypes to study other African countries. This study found that there is no one generally accepted source of funds opened to African medical entrepreneurs and that entrepreneurs do not rely on one single method but a combination of different sources of funds to finance their entrepreneurship. It is of no doubt that a country’s sources of funds vary depending on funders (investors) and government systems. This paper has captured various sources of funds in which one or two will be suitable for any business enterprise in Africa not minding the complexity and enormity of divergent entrepreneurial businesses with peculiarity in their styles for sourcing for funds.

Keywords: Compreneur; Double bottom line; Entrepreneur; Medical entrepreneurship; Fund raising (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-19-6696-5_8

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DOI: 10.1007/978-981-19-6696-5_8

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