Jean-Claude Bastos’ African Innovation Foundation: A Legacy of Empowerment

One might rightly say philanthropist/entrepreneur Jean-Claude Bastos de Morais is a study in contradictions. As a private investor specializing in alternative healthcare, regenerative agriculture, and alternative energy, his insights and expertise are independent of borders. However, while Bastos de Morais’ interests may be broad-based, forwarding the singular cause of African socio-economic development has long been and continues to be one of his main areas of focus.

In many ways, duality has a defining theme of Jean-Claude Bastos’ life. As a citizen of both Switzerland and Angola, his European sensibilities are informed by a deep connection to the African continent and its diaspora. “By profession, I am an economist, venture capitalist, and philanthropist,” he revealed in an interview with Forbes. “I have an active interest in the social and economic development of sub-Saharan Africa, which is where my father is from. I grew up in Switzerland, which is where my mother is from. I studied Business and Administration at the University of Fribourg in Switzerland.”

As a pioneering investor in the region, Bastos de Morais became an early proponent of harnessing the promise of technology to elevate Africa’s earning power and encourage financial independence. But at the same time, he was fiercely devoted to investing in the human capital of the continent with a goal of empowering Africans to wield more control over their own destinies. By melding the two driving forces, Bastos was able to create a powerful engine for positive change.

Jean-Claude Bastos’ Heritage of Technology and Humanitarianism

With a family history marked by scientific achievement as well as a deep-seated humanitarian belief in enriching the lives of others, Jean-Claude Bastos’ affinity for technology and his passion for philanthropy might loosely be described as “genetic.” Bastos’ mother hailed from Switzerland. His maternal grandfather, a leader in the watchmaking industry, was the innovator of light-up watch dials. Bastos’ paternal line is Angolan. He credits his paternal grandmother with instilling in him the value that with privilege comes a responsibility to help those less fortunate.

“I had a very close relationship with my late Angolan grandmother who taught me the importance of valuing humanity,” Bastos told Forbes. “She always told me that when you have enough, give to those in need. She also taught me the importance of remembering my origins. Before she passed away, I promised her I would help to make a difference on the African continent.”

Dual Insights Fuel Innovative Change

To that end, in 2009, Bastos de Morais launched the African Innovation Foundation, an initiative aimed at aiding and uplifting the continent’s next generation of emerging thought leaders in the fields of agriculture, biodiversity and sustainability, digital information and communications technology, life sciences, and health. “My passion for innovation and my belief that Africa’s future lies in its ability to innovate according to its socio-economic needs led to the founding of the African Innovation Foundation (AIF). Our aim [was] to unleash Africa’s dormant potential and support sustainable projects that improve the lives and the future of people in Africa.”

Jean-Claude Bastos believes his dual identity has given him a distinct advantage when it comes to understanding the dichotomy between the demands of modern commerce and the realities of the obstacles Africa must overcome to achieve parity with more industrially advanced parts of the world. “I am a dual citizen of both Angola and Switzerland. This fact gives me a unique perspective of the continent. I can easily recognize the opportunities that this continent offers, but also the challenges it faces,” Bastos de Morais told digital B2B publisher Africa Business Communities. “Creating an environment which promotes innovation and entrepreneurship is fundamental.”

Setting the ‘For Africans, By Africans’ Momentum in Motion

First and foremost a businessman in the early days of his career, Jean-Claude Bastos had been active in private equity finance and venture capital for more than 20 years prior to launching the African Innovation Foundation. The more time and money he invested in the continent, the more he saw a growing need for homegrown technical innovations that could enhance the economy, sustain the environment, and elevate the workforce.

Eventually, Bastos concluded the most effective vehicle to effect the changes he sought would be an incubator-type foundation that could provide opportunities for talented young Africans to take their innovative concepts from the drawing board and launch them into the real world. “I didn’t have financial ideas behind it but more of a social concept. I created the foundation and the Innovation Prize with the goal of creating a platform to connect young innovators and entrepreneurs who have ideas with investors,” Bastos recalled during an interview for CNBC Africa’s financial program Beyond Markets.

The “For Us, By Us” philosophy Jean-Claude Bastos espoused for his new foundation wasn’t new, however, he believed its implementation was essential if the continent hoped to take its rightful place on the global stage economically as well as socially. For Jean-Claude Bastos, the African Innovation Foundation became a concrete means to encourage both emerging technology and sustainable development created by Africans for the benefit of Africans. “This meant, for example, supporting home-grown innovations, facilitating technology transfer as well as promoting other platforms that enhance the exchange of ideas and collaboration among researchers, inventors, entrepreneurs, investors, and policymakers,” Bastos explained to ABC.

The Continuing Legacy of African Innovation

In 2011, in conjunction with the United Nations Economic Commission for Africa, the African Innovation Foundation launched the Innovation Prize for Africa, a monetary award to promote advanced technological breakthroughs across the fields of manufacturing, healthcare, agriculture/agribusiness, environmental amelioration and sustainability, energy, water, and information/communication technology. “Over the years I have witnessed how it has helped to unearth incredible African potential that would otherwise have gone untapped,” Bastos told Forbes.

The following year, on the heels of the wide acclaim garnered by the Innovation Prize for Africa, the African Union and the United Nations Economic Commission for Africa passed a resolution ushering in a new age of socio-economic transformational innovation. “The African continent has many untapped talents/talented professionals who should be supported and given the opportunity to learn, gain skills, and grow. This will be key for business and economic development,” Bastos shared with ABC.

Jean-Claude Bastos’ sentiments were echoed recently by Dr. Martial De-Paul Ikounga, Commissioner for Human Resources, Science & Technology Africa Union Commission in the 10-year anniversary report on the AU’s Science, Technology and Innovation Strategy for Africa (STISA-2024). “Investments in education, technical competencies and training, and in science, technology, research and innovation remain critical. We must mobilize and widen the involvement of relevant segments of our population, private sector, civil society, parliamentarians, and the Diaspora to participate in Africa’s science and technology program. Africa must harvest its population demographic dividend, especially the women and youth, whose energy, creativity, and courage must drive its development agenda.”

Looking back, Jean-Claude Bastos says he is proud of the catalyzing role the African Innovation Foundation and the winners of the Innovation for Africa Prize played in the long-term socio-economic enrichment of the African continent. As he told Forbes, “I feel certain that I am fulfilling my late grandmother’s legacy.”

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