Africa on the Rise - The Evolution of Innovation on the Continent


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The rise of incubators and accelerators in Africa has led to a new eco-system for startups and innovation on the continent. Africa is innovating Africa and the World.

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Africa on the Rise - The Evolution of Innovation on the Continent

  1. 1. Africa On The RiseThe Evolution of Innovation on the Continent J. Skyler Fernandes, COO 1
  2. 2. The World Is Changing The BRIC Nations The BRICS Nations + SOUTH AFRICAThe BRIC nations, an association of leading emerging economies—now have a new member, South Africa! As of 2010, the group hasbeen officially renamed the “BRICS.” 2
  3. 3. The World Is ChangingShould all of the BRICS have a more permanent seat on the Security Council? 3
  4. 4. Seeds of Innovation• Capital – Seed & VC Funds• Entrepreneurial Eco-systems – Incubators & Accelerators (Investors, Mentors, Entrepreneurs, Resources)• Educational Resources – University Tech Labs & Academic Institutions Focused on Entrepreneurship, Innovation, Computer Engineering 4
  5. 5. Africa Innovating Africa & The WorldGreat Story:A real-time map technologydeveloped in Africa used by anAfrican Innovation Hub toaggregate all African Tech Hubs,Incubators & Hackerspaces. 5
  6. 6. African Innovation Hubs 73 63 13 18 6
  7. 7. 7Source:
  8. 8. Source:’s Mission:• Discover synergies between the labs• Share best practices and help new organizations emerge• Enhance visibility of the network and her actors, share success stories• Organize networking events and facilitate other exchanges, both online and offline• Secure resources for the network by establishing a revolving fund• Generally promote developments in this space and explore other common interests 8
  9. 9. Incubator NetworksThe growing Africa Incubator Network includes groups that have recently plannedand opened incubators with infoDev support (A World Bank organization). Countrieswhere the African Incubator Network is present: Angola, Ghana, Kenya,Mauritius, Mozambique, Nigeria, Rwanda, Senegal, South Africa, Uganda. The Southern African Business Incubation Association (SABTIA), members are from all the Southern African countries, namely: Angola, Botwana, Dr Congo, Lesotho, Mozambique, Namibia, Swaziland, South Africa, Tanzania, Zambia, Zimbabwe 9
  10. 10. African Seed Funds & Angel Networks Nairobi, Kenya. A $10M Fund with commitments from Tim Draper, Dave McClure of 500 Startups, Yelp co-founder Russ Simmons, and Dali Kilani and Roger Dickey of Zynga. Cape Town, South Africa. Umbono (Zulu word for “vision” or “idea”) is a startup seed fund, mentor program, and business incubator for African technology companies, founded by Google. South Africa. AngelHub is a Business Angel Investment Group that pools funding, expertise& networks from a diverse range of early-stage Angel Investors for investment in high-growth South African ventures to accelerate growth & create value. The Silicon Cape Initiative is a non profit, community owned & driven movement for entrepreneurs, geeks, venture capitalists, angel investors, marketers and other professionals in the IT industry. 10
  11. 11. The & of Africa Source: 11
  12. 12. Showcasing African Innovation Oct, 2012. DEMO Africa launches as a flagship initiative that aims to connect African startups to the global ecosystem. DEMO Africa will be the place where the most innovative companies from African countries come to launch their products and announce to Africa and the world what they have developed. 12
  13. 13. Missing Middle InitiativeThe Missing Middle Initiative launched at theWorld Economic Forum in Davos, January 2010• Defined Missing Middle: $50K-$2M for SMEs• Greatest need is in emerging markets – greatest gap in SMEs• Over 50% of newly created missing middle funds are in Africa TED talk on “Innovating the Financing of Innovation” How can capital not just be a source for financing innovation, but innovate itself to fill the global financing gap and bring about more innovation in the next 100 years, than ever before. 13
  14. 14. The Global Innovation FundThe First Global Micro-fund with a mission to discover, fund, andaccelerate the growth of top international tech starups looking to enter the US Market. Turn New York Into The Ellis Island of Innovation 14
  15. 15. Turning Africa On, The Key Is In The Ignition• Nov 19th, 2012, A fifth undersea fiber optic cable is set to land in Kenya, doubling the country’s Internet capacity. Once the fifth cable is laid, Kenya’s bandwidth capacity will double to more than 15 terabytes per second (TBps).• July, 2012: The Economic Community for West African States (ECOWAS) and the New Partnership for African Development (NEPAD) have signed an agreement for the establishment of a €1 million ($1.2 million) Business Incubator for African Women Entrepreneurs (BIAWE) in the sub-region.• 2013 will see the establishment of the .Africa extension, a domain name unique to Africa. 15
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