Fola Odufuwa

This session would present the high-level findings of a new study of the African start-up ecosystem which was commissioned by the Africa Union Development Agency - AUDA-NEPAD, in partnership with Mozilla Corporation. The goal of the study is to acquire a deeper understanding of the start-up phenomena in Africa that can, through evidence-based actionable insights, lead to the adoption by the African Union, Regional Economic Communities, and Member States of policy and regulatory frameworks that could lead to a more robust and sustainable startup ecosystem for the African continent in line with The Digital Transformation Strategy for Africa 2020-2030 (DTSA). Through the DTSA, the AU seeks to promote the economic contribution of start-ups and encourages African countries to create an enabling environment for their emergence and growth. To fill a crucial knowledge gap that continues to limit the shaping of best policies and regulatory interventions targeted at this sector, the researchers undertook extensive research and interviewed a range of stakeholders in the startup ecosystem in select African countries including Kenya, Zambia, South Africa, Nigeria, Ghana, and Senegal, Regional Economic Communities such as COMESA and at pan Africa level the African Continental Free Trade Area (AfCFTA). The ecosystem stakeholders include startups, incubators, accelerators, angel and venture capital funders and relevant government agencies in the respective countries. The study also benchmarked select countries in Asia (India and Malaysia) and South America (Brazil and Columbia). In this session, the researchers will share key findings on the status of startup ecosystems, challenges that encumber growth and policy recommendations to unleash rapid growth as engines of development. Target Audience Digital Economy ministers, Ministers in charge of Innovation, ICT regulators, startups, hub managers, Venture Capital funders, Angel Funds, innovators, and invited ad hoc organisations.