Startups Archives - Page 6 of 20

29Mar

By Africa BusinessNo Comments

Startups

Africa itself shares the hallmarks of a tech startup which bodes well for its global competitiveness

By Joshua Raphael, Founder & CEO of Parket It is widely accepted that Africa’s potential is likely to be unleashed through widespread and sustained digital transformation. In other words, technology, and the innovative solving of complex problems, will catapult the continent into global competitiveness. This is not just theoretical, it is likely, and this is because Africa itself shares the hallmarks of a tech startup. Comparing a continent to a startup may, at first glance, seem odd, until we look at what most startups have in common: while they all need inspiration and perspiration to succeed, there is an element of desperation. This desperation is not of the negative variety, rather it is the jet fuel of innovation. Consider an average startup. One may argue that about 10% of its...

14Mar

By Africa BusinessNo Comments

African News, Startups

Hong Kong rolls out red carpet to African business

Hong Kong, Asia’s leading business destination and the gateway to Mainland China and Asia, is stepping up its efforts to attract African business, with the opening of an InvestHK representative office in Africa. InvestHK, the department of the Hong Kong Special Administrative Region (HKSAR) Government responsible for Foreign Direct Investment, has a presence in 33 markets and is now actively building mutually beneficial relationships with leading African and South African enterprises such as major banks, metro development organisations, and the JSE. Speaking at a briefing at the JSE in Johannesburg, InvestHK Director-General of Investment Promotion Stephen Phillips noted: “Africa is an important part of our strategy, therefore we are building relationships and representation in South A...

Flat6Labs Launches New US$95M Venture Capital Fund to Expand its Impact in Africa

14Mar

By Africa BusinessNo Comments

Startups

Flat6Labs Launches New US$95M Venture Capital Fund to Expand its Impact in Africa

Flat6Labs (www.Flat6Labs.com), MENA’s leading seed investor, has announced the launch of a new US$95 million Seed Fund to nurture the growth and development of early-stage tech startups on the African continent. Flat6Labs has a proven track record in carefully vetting out and investing in promising startups in North Africa since it was founded 12 years ago, with more than US$16M invested in startups, and over US$191M raised in follow-on funding while creating more than 2,500 direct jobs and 80,000 indirect jobs through its first two funds in Egypt and Tunisia. Headquartered in Egypt, the Africa Seed Fund (ASF) will focus on three main investment territories in Africa: North Africa, West Africa, and East Africa. Flat6Labs will be extending its reach into several new territories including N...

There is no single formula to start a business, all you need is passion and purpose

10Mar

By Africa BusinessNo Comments

Startups

There is no single formula to start a business, all you need is passion and purpose

By Catherine Wijnberg This article takes a realistic and practical perspective of business start-up using lessons from my extensive start-up experience and those of hundreds of South African entrepreneurs I have worked with across every industry over the past 15 years. It is also why I can admit that unlike baking a cake, there is no single recipe or formula for business success. There are dozens of reasons for starting a business. Essentially, these fall into two categories: either you can't find a job and need to make an income to survive, or you have a burning creative desire to grab an opportunity to build something or solve a problem for others. Often the true reason is a combination of the two. The inner passion and purpose of seeing it succeed is more important than the external...

Gender in Focus: Senegalese “Agripreneur” and African Development Bank AgriPitch Competition winner says digital marketing key to luxury tea startup success

6Mar

By Africa BusinessNo Comments

Republic of Côte d'Ivoire (Ivory Coast), Senegal News, Startups

Gender in Focus: Senegalese “Agripreneur” and African Development Bank AgriPitch Competition winner says digital marketing key to luxury tea startup success

Senegalese businesswoman Adja Sembene Fall said she had no choice but to launch her start-up business online because her new Contanna fair-trade tea company only had $200 to its name. “Due to [lack of] finance, it was not possible to get a physical shop. We started out in the backyard of my brother’s house. We sold our teas via social media for three years,” said Fall. She says her line of luxury brand tea products is about more than taste. Fall says Contanna teas sell a “Senegalese experience” that promotes a women-owned, 100% locally sourced and processed product based on recipes infusing family and cultural traditions. “Digitizing our buying process was really important. We [were] also able to present and adjust packaging of our product online, [to emphasize] it was premium and differ...

MultiChoice Africa Accelerator Programme set to boost prosperity of African small and medium-sized businesses (SMME)

28Feb

By Africa BusinessNo Comments

Angola News, Ethiopia News, Ghana News, Kenya News, Nigeria News, Republic of Côte d'Ivoire (Ivory Coast), Senegal News, South Africa News, Startups, Zambia News

MultiChoice Africa Accelerator Programme set to boost prosperity of African small and medium-sized businesses (SMME)

MultiChoice shortlists 11 start-ups to pitch for international funding and take their small businesses to the next level At a time when unemployment challenges and economic instability are high, small and medium-sized businesses (SMMEs) are proving to be the engines of economic growth and job creation throughout the African continent. In recognition of the critical role SMMEs play, MultiChoice launched the MultiChoice Africa Accelerator programme which trained 29 businesses across 9 African countries in key entrepreneurial skills. As the second leg of the programme, a panel of experts has selected 11 of the most promising small businesses and invited them to pitch to prospective international investors in Dubai. “There’s no denying the impact African SMMEs have on job creation and econ...

Don’t Fall for the Myths: How to Succeed with Your Small Business Start-Up

18Feb

By Africa BusinessNo Comments

Startups

Don’t Fall for the Myths: How to Succeed with Your Small Business Start-Up

By Catherine Wijnberg So, you have been thinking it’s about time you started something but just can't quite get into the groove? Let’s break eight myths around business start-ups and help you gain the momentum to get started. 1. Myth one: you can't start a business without a business plan Millions of small businesses worldwide have been started without a business plan. The action of starting the business is what matters. Once you have started and tested the concept, you can then develop a business plan to focus the strategy, share the vision with others and build a compelling case for accessing finance or partnerships. So rather than spending endless energy and many months writing and worrying about developing a perfect business plan, just take that jump forward to find yo...

From failing at university to scaling SA’s top venture builder in four years – these two young entrepreneurs are on a mission to help 1-million people build good tech

13Feb

By Africa BusinessNo Comments

South Africa News, Startups

From failing at university to scaling SA’s top venture builder in four years – these two young entrepreneurs are on a mission to help 1-million people build good tech

One of the most hotly debated topics in African innovation is South Africa’s claim to be the “Tech Capital” of the continent. Home to more than 490 startups and a combined US$1-billion (or R17.6-billion) in funding[1], South Africa is an undisputed leader on the continent. But in 2023, that reputation is slipping, as Nigeria takes the title of ‘Best Funded’ (US$2-billion) and as Egypt’s pool of startups crosses the 560-mark. Regardless of South Africa’s status, startups play an important role in driving inclusive and sustainable development. They create jobs, stimulate new skills, attract investment, and most importantly, foster new ideas with the potential to make life better for both people and the planet. But all of this is at risk if startups are not given the support they need to bui...

GSA Africa winners to hit the global stage in Copenhagen, next cohort encouraged to submit applications

4Feb

By Africa BusinessNo Comments

Startups

GSA Africa winners to hit the global stage in Copenhagen, next cohort encouraged to submit applications

Winners of last year’s African Startup Awards will be enroute to Copenhagen, Denmark, this March to showcase their solutions to some of the world’s top startups, venture capitalists, and ecosystem enablers at the Global Startup Awards (GSA) Grand Finale. In the meantime, innovators looking to be a part of the next delegation are encouraged to apply to the 2022/23 season of GSA Africa – the largest independent startup ecosystem competition on the continent on a mission to find, fund, and scale the most innovative companies in Africa. Applications are free and close on 26 February 2023. Among others, this year’s competition is looking for innovations in agriculture, climate, commerce, education, healthcare, and mobility & logistics, with a particular interest in startups championing We...

It’s time to demystify Intellectual Property in Kenyan innovation

31Jan

By Africa BusinessNo Comments

African News, Kenya News, Startups

It’s time to demystify Intellectual Property in Kenyan innovation

by Sheilah Birgen, Country Lead for Kenya at Innovate UK KTN Global Alliance Africa. With a relatively stable macroeconomic environment, sustained investor confidence, and a fast-expanding services sector, Kenya has emerged as one of the fastest-growing economies in Africa and the largest in the East African region by way of Gross Domestic Product (GDP)[1]. To maintain its lead, the Kenyan government is looking to technology and innovation as a strategic driver of new business development, job creation, and socio-economic growth. Considered one of Africa’s ‘Big Four’ innovation ecosystems, Kenya has made good progress in this regard, registering 250% growth year-on-year between 2020 - 2021 in terms of startup funding raised[2]. However, to maximise the impact potential of startups and in...