Connecting North Africa: The Startup Scene
The North Africa startups ecosystem is gaining momentum, with new ventures springing up every month, and more investor interest.
Got great tech ideas, but lack the funds to turn them into reality? As all startup Founders know, big ideas can't be realised without ideation, analysis, development, and investment.
North Africa offers many new opportunities for investors, startups, and entrepreneurs, with Morocco and Egypt as two of Africa's most popular destinations for startups.
During 2019, Briter Bridges carried out research on startup innovation in the region, identifying ecosystem supporters across North Africa; 80+ in Tunisia, 20+ in Algeria, and 25+ in Morocco. Furthermore, many of the continent's large startups were born from the region - Jumia and Swvl to name a few.
The North Africa startup ecosystem is shaping fast. So what does this mean for startups raising capital in the region?
We asked Basil Moftah, Global Ventures, what they consider when investing in North African startups:
"We ask ourselves three questions:
#1 Are we in front of an A team with domain expertise, complementary skill sets and ideally an entrepreneurial history?
#2 Does the product/service serve the exact customer pain point(s)?
#3 Is the addressable and obtainable market large enough?"
If you’re a startup in North Africa, getting connected to investors, other startups and the tech community can be difficult. That’s why we organise the AHUB at North Africa Com.
The AHUB is a unique opportunity for startups to raise their profile and make connections with the region’s tech investors and business leaders.
Join the panel discussion "Building ecosystems for North Africa’s next wave of start-ups" on Tuesday, 13 July 2021 at 11:05 - 11:45 WAT (West Africa Time, GMT+1), to learn about all of the following:
- Context: Unpacking the burgeoning growth in North Africa’s start-up ecosystem
- Policy: How has the policy environment in North Africa been favourable towards entrepreneurship? Exploring the early impact of the Tunisia Start-Up Act.
- Investment: Companies and organisation such as Google and the IFC are ramping up investment in the region through accelerator programs & new VC funds, how has the
growing interest from investors shaped the start-up ecosystem?