Can Africa’s tech start-up scene rise to the next level?
November 20, 2017 Editor 0
In the decade since mobile money first sparked international interest in African innovation, hundreds of tech hubs have sprung up across the continent; global giants like GE have rushed in to build innovation centers; and the venture capital industry has steadily grown. Nevertheless, the continent’s tech scene continues to face challenges.
The rise of African innovation has inspired thousands of new start-ups, and this trend will continue into the foreseeable future. Existing acceleration programs, however, still leave growth-stage companies in need of additional support to secure investment and scale their businesses across borders. With many of the continent’s acceleration programs lacking in quality, we hoped to introduce an innovative post-acceleration program, XL Africa.
After infoDev launched its mLabs in Kenya, Senegal, and South Africa in 2011, they introduced incubation programs that successfully supported the creation of over 100 start-ups that raised close to $15 million in investments and grant funding, and developed over 500 digital products or services. As these ecosystems and start-ups have matured, more needs to be done to improve the marketability of these companies to global and local investors.
- Seedstars World – Discovering the best startups in emerging & fast-growing startup scenes | Application deadline: 31st March, 2013
- Africa: UN Says Sub-Saharan Africa to Have 160 Million Mobile Broadband Connections By 2016
- Rwanda: Youth Meet to Develop ICT Solutions for Agriculture
- Africa’s Quest for Prosperity
- mWASH: Mobile Phone Applications for the Water, Sanitation, and Hygiene Sector
- The Truth About Disruptive Development (Blog)
Categories: World Bank PSD
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