WiiQare

The lack of health financing mechanisms in Africa significantly impacts access to care. Indeed, 800 million people on the continent are unable to save for healthcare and lack insurance. As a result, 38% of this population will delay or forgo treatment during a health crisis. In addition, each year, over 110 million African citizens who do end up in the hospital experience catastrophic health spending, driving them into poverty. 

Because individuals lack the means to cover their health expenses, family and friends step in as the key payer. This includes family and friends overseas who send more than $9 billion annually to Africa for health. However, fees for remittances are high and funds are typically received in cash, with no accountability on the use of the funds. Furthermore, the diaspora has no control or visibility on the quality of care. This underscores an urgent need for solutions that improve remittances and healthcare access.

WiiQare is tackling these issue with (1) a blockchain health services platform to connect payors, patients, and providers for easy, transparent payments and (2) a marketplace of healthcare packages designed for direct purchase by the African diaspora.

WiiQare partners with local healthcare providers to offer various healthcare packages in the form of NFT (non-fungible token) vouchers (web3 components are abstracted from users). These packages range from bundled-care services for conditions like diabetes and maternal health (covering lab tests, consultations, medication, etc.), to general vouchers for emergencies or checkups, and even health insurance.

Family or friends abroad buy these NFT vouchers with fiat or USDC and send them to loved ones back home in Africa. WiiQare then converts any fiat into digital dollar stablecoins (USDC). Recipients use these vouchers for treatment at WiiQre’s network of providers. The providers, in turn, redeem the vouchers with WiiQare for payment in USDC minus a commission. Providers may hold their USDC as a stable currency, convert it to local currency (via WiiQare off-ramp partners), or access goods and services (esp. from international suppliers).

Our platform benefits the following individuals/entities:

1. African diaspora (Payor)

• Secure, transparent and immutable transactions build trust and ensure accountability on the use of funds received by the beneficiary
• Efficient, low-cost blockchain transactions; zero user Trx fees
• Instant voucher transfers give beneficiaries immediate access to treatment
• Seamless user experience afforded by web3 abstractions
• Customized healthcare packages for comprehensive care

2. Migrant family and friends in Africa (Patient)

• Financial access to healthcare
• Access to quality healthcare providers
• Customized healthcare packages for comprehensive care
• Seamless UX, (compatibility with both smart and feature phones)

3. Healthcare Provider

• Ability to market healthcare services directly to the diaspora
• Access to USDC stablecoins: 
  • Shields from local currency fluctuations and inflation, improving management of finances and operations, 
  • Simplifies transactions with international suppliers, avoiding complex and costly currency exchange, 
  • Enhanced financial inclusion allowing for digital transactions and global network participation.

Our team is led by Dr. Brice Kitio, a health economist and native of Cameroon. He is a member of the African diaspora with first-hand experience caring for and financing the healthcare of family members living in Cameroon. Other team members include Tata Odette and Bienvenu Zigabe, native residents of Cameroon and DRC, respectively, who are well-acquainted with the challenges of financing healthcare in Africa. WiiQare’s advisory board also includes two clinical advisors both based in Cameroon, with deep understanding of the Africa healthcare system.

WiiQare’s team combines expertise in business, health economics, and tech:

-Dr. Brice Kitio, founder & CEO. Global health economist. Founded Cameroon digital health venture on CV disease with >12,000 users, and health savings platform with >1000 users. PharmD  (Univ. Claude Bernard Lyon), Economics & Entrepreneurship (LSE & Univ Cam). Cameroon native.

-Aleksandr White, cofounder & COO. Extensive early-stage experience in strategy, operations, and product development. BA, MS (Michigan, MIT); Blockchain (Oxford).

-Liviu Vlad, Blockchain Engineer - EVM platforms, smart contracts, NFTs expertise. BA in Comp. Sci. (Tech Univ. Cuj)

-Bienvenu Zigabe, Fullstack Dev - web/mobile payments apps. BA, MS in Comp. Sci.

-Tata Odette, Marketing lead. Digital Marketing expertise. BA in Comp. Sci. (Univ. Buea)

We prioritize Human-Centered Design, making it our practice to incorporate user feedback from community focus groups and user surveys to inform our platform and services.

To date, with grant support from UNICEF’s Office of Innovation, WiiQare has built its NFT health voucher platform and initiated a small pilot study in DRC and Cameroon, with over 30 patients receiving services from 4 partnering healthcare providers. In addition, we have designed a cardiovascular disease bundled-care package with one hospital partner.

The MIT Solve award will afford us the following significant benefits:

1. Funding. It will provide essential financial support for our business operations and service expansion.

1. Mentorship and Coaching. We will receive guidance to scale our business and increase our impact, covering areas such as marketing, fundraising, navigating regulatory complexities, and implementing best practices.

2. Networking. Access to MIT Solve's broad network of impact-minded leaders will offer opportunities for strategic partnerships, connection with investors. It will also give us the chance share our learnings and experiences with other fellow entrepreneurs.

WiiQare's solution integrates the following innovations:

1. Blockchain-enabled remittances for healthcare. We use blockchain to facilitate secure and transparent healthcare remittances through use of WiiQare’s NFT HealthPass, reducing transaction costs and ensuring funds are used for their intended purposes.

2. Bundled-care packages. Affordable comprehensive care packages focus on treatment and preventive health, particularly for chronic conditions like diabetes and cardiovascular disease.

3. USDC Stablecoin Payouts to Providers. Use of stablecoins streamlines payments to healthcare providers. Providers receive payments in USDC, protecting them from local currency fluctuations and promoting financial stability.

The successful scaling of our platform is expected to have multiple broader impacts:

1. Standardizing Digital Currencies. By demonstrating the effectiveness of digital currencies in low and middle-income countries (LMICs), we set a precedent for their wider adoption in other regions and sectors.

2. Promoting Innovative Healthcare Models. Our bundled-care approach can encourage the adoption of innovative, affordable care models in LMICs, improving healthcare delivery and access.

3. Preventive Care Awareness. Our focus on preventive measures for chronic conditions will foster greater recognition of the importance of early intervention and regular health monitoring.

WiiQare’s Theory of Change:

Activities:

• Sell NFT HealthPass to the Africa diaspora enabling them to finance the healthcare of loved ones back home.
• Collaborate with local healthcare providers and insurers to expand availability of services with emphasis on preventive care.
• Provide health education as part of services to users
• Provide USDC payouts to Providers.

Immediate Outputs:

• lower remittance costs faster payment methods for Payors
• Increase in financial payments to providers
• More providers accepting USDC stablecoins
• Beneficiaries getting connected with quality care
• Enhanced health literacy, especially regarding preventive care, through educational efforts.

Short-term outcomes:

• Lower transaction costs and faster health remittances.
• Improved healthcare service accessibility for underbanked populations.
• Immediate financial relief for patients, speeding up access to necessary care.
• Increased patient knowledge and management of health conditions.
• Greater financial stability for partnering hospitals and pharmacies.

Long-term Outcomes:

• Reduction in catastrophic health spending.
• Better overall public health outcomes from timely healthcare access.
• Strengthened local healthcare systems; increase in healthcare workforce
• Enhanced financial inclusion for healthcare providers who are able to access digital and financial global networks
• Broader adoption of stablecoin digital currencies for greater financial resilience and access to international supply chains.

Our impact goals align with SDG targets 3.8, 3.c, and 10.c. Here are the specific goals and indicators we will use to measure our progress:

Impact Goal 1: Enhance financial risk protection and access to healthcare (SDG Target 3.8)

Indicator: Annual reduction in the percentage of the population with large household expenditures on health as a share of total household expenditure or income.

Impact Goal 2: Strengthen health systems by improving health financing and recruitment, development, and retention of the health workforce (SDG Target 3.c)

Indicator: Annual increase in health worker density and distribution in regions where our platform is in use.

Impact Goal 3: Eliminate cross-border transaction fees for migrant remittances for healthcare (SDG 10.c)

Indicator: Monthly growth in members of the African diaspora using our platform to finance the healthcare of family in Africa.

WiiQare’s platform is powered by blockchain technology. The creation, transfer, and redemption of WiiQare’s NFT HealthPass = NFT is managed by an EVM (Ethereum Virtual Machine) smart contract that interacts with Polygon (public blockchain). In addition, our platform facilitates payouts to Providers in USDC digital stablecoin.

Use of blockchain enables the following critical features and benefits:

• Secure, transparent, and immutable transaction records which increases trust and ensures beneficiary accountability on the use of funds.
• Efficient and cheaper cross-border transactions. Standard fiat-to-fiat remittances to and within Africa average 8% in transaction fees. In contrast, USDC stablecoin peer-to-peer settlements on Polygon average ~$0.015 per transaction. Off-ramping from USDC to the Central African CFA Franc can be done with transaction fees as low as 0.5%.

USDC stablecoins bring these extra benefits to partnering providers:

• Shields from local currency fluctuations and inflation, improving financial and operational management.
• Simplifies transactions with international suppliers, avoiding complex and costly currency exchange.
• Greater financial inclusion opening access to global financial and digital networks.

full-time staff: 4

part-time contributors/contractors: 4

We are committed to fostering a diverse, equitable, and inclusive environment:

Diverse leadership. The company’s ethnically and culturally diverse team includes representation from the Cameroon, Democratic Republic of Congo, France, India, Romania and the USA. Having a diverse team ensures diverse perspectives in decision-making and operations.

Equity in Opportunities. We are dedicated to providing equitable opportunities for all staff members. This includes fair access to promotions, training, and resource allocation, which are fundamental to our organizational practices.

Inclusive Environment. We actively work to create a workplace where everyone feels valued and respected. Our inclusivity efforts are reinforced through open communication channels, and team-building activities that emphasize respect and understanding.

Community Engagement. We regularly engage with our communities to understand their needs and incorporate their feedback into our services, helping to ensure that our actions and policies are aligned with the principles of diversity, equity, and inclusion.

We are committed to creating a workplace culture that respects and values individual differences and also actively supports and encourages the professional growth and personal well-being of every team member.

We have a B2B revenue model. We charge a commission to healthcare providers on each patient bill. This model has been validated in initial pilot studies with multiple healthcare providers.

In addition, aggregated platform health data will give us opportunity to partner with ministries of health, NGOs, academic instutions, and pharmacuetical companies. This can provide an additional source of revenue.

Our long-term financial sustainability will leverage a diversified revenue model combining the following revenue streams:

1. Commission from Providers. As stated above, we charge providers a commission on each patient bill.

2. Strategic Partnerships. We will partner with ministries of health, NGOs, academic institutions, pharmaceutical companies on initiatives targeting specific populations for care (e.g., maternal health, diabetes) and health education.

To date, we have received a grant from the UNICEF Office of Innovation to support the technical development of our platform and a small pilot study in DRC. In addition, we were recently awarded $25k from Circle in their Unlocking Impact Pitch Competition. We seek additional grant funding to support a larger pilot study of the platform. Following a successful larger-scale pilot, we’ll be well-poised to attract investments from VCs and Impact Investors to facilitate rapid expansion and broader service offerings.

The initial addressable market for EU-Francophone Africa is $600M. This is based on data showing $3B in annual remittances for health from Belgium, France, and Italy. Worldwide addressable market is ≥$3B.