Over the past five years Africa has seen the rise of new brilliant young entrepreneurs while there has been a steady boom in start-ups within the continent. As this situation is characterized by the continuous unemployment rates in sub-Saharan Africa, not all entrepreneurs and their start-ups have been successful. There have several moments where young African and even existing business men will say “It’s not easy doing business in Africa” while others will emphasize on their operational challenges as a start-up.
At the other hand, some people have exceptional business ideas but lacks capital to launch these ideas. In several reports from graduation events in Africa, guest speakers will urge graduates to put into action whatever thing they studied and become entrepreneurs of their own. Interviewing and engaging in a dialogue with most unemployed graduates in sub-Saharan Africa, they do agree to be entrepreneurs but they lack capital or seed funding. With no track-record in business management, no international network, some are afraid to enter into business but there are still open opportunities to team up with the right people.
As much as Africa is still at a developmental phase, there is no reason for its economic constrains to limit the brilliant ideas of young entrepreneurs. With the right environment, network, and mentorship, start-ups in Africa will soar. Knowing that it sometimes feels insecure to share good ideas with others when seeking for capital, there have new developments to help new start-ups in developing countries to perform above expectations. GITEX is one of the refined organizations to look up to.
Over the years, GITEX has been identified to organize start-up conferences offering booths for entrepreneurs to showcase their work while providing technical support for start-ups. With its great mentors, resources and organized conferences, young entrepreneurs can be confident in launching big ideas without the fear of capital and skills. Mid this year, GITEX announced its technology week and also an upcoming Start-Up Movement Conference in October which is expected to bring over 400 companies to about 140,000 investors.
Entrepreneurship success is usually dependent on network, collaboration, and partnership. A master of these three things is more likely to succeed as an entrepreneur and vice versa. Being able to identify good mentors and engaging in networking events where you are exposed to investors is very good to build your confidence and also grants an opportunity to build partnership and collaborations.