Navigate the vast and complex landscape of seed funding for Africa

There is a gap between donors and new businesses in Africa due to a lack of targeted education and support to help new businesses understand the financing landscape and to make themselves known in ways that appropriate.

This is one of the results of a roundtable on innovative start-up funding platforms in Africa, held at the first annual Southern Africa Startup Awards, held recently in Johannesburg.

Nokuthula (Nokky) Ndlovu, founder of the Limit Breakers Global Foundation and discussion leader, said: "We should not end the discussion, but rather commit ourselves to action, as we deliberately decide to create new businesses. technological innovation to thrive and opportunities to promote diversity, especially the inclusion of women in technology. "

Mckevin Ayaba, Regional Director of GSA-Southern Africa (GSASA), the organization that runs the program and developing the awards, said that South African-based start-ups have more options than their counterparts in SADC.

While the startup business ecosystem in South Africa is considered the most developed, it is closely followed by Kenya and Nigeria.

"On the basis of data alone, it is obvious that South Africa has a much more developed start-up ecosystem … just look at the number of technology hubs, incubators and accelerators, programs start-up, investment platforms, etc. Even the number of young active companies that have an impact on their environment, "Ayaba said.

However, all new companies face similar challenges in trying to break into the market, he said, citing common complaints such as the need for more general ecosystem development, the low flow of information and a lack of security. access investment opportunities.

"This obviously does not concern the level of innovation in the various SADC countries.There are amazing start-ups from many countries, such as Mauritius, Mozambique, Namibia and Tanzania.

There were fifteen winners in fifteen categories from fourteen SADC participating countries.

Among the awards, Easy Equities, from South Africa, won the start-up award of the year, Tanzania, Lilian Makoi, won the women's role award in the technology sector, EcOrganics of Mauritius has been voted the best student start-up, the South African company Startupbootcamp Afritech being named Best Accelerator / Incubator Program.

The winners were also offered web services including the design, hosting and management of websites for 12 months for a value of 150 000 Rands by Kaskade.Cloud

Speaking of any correlation between incubation / innovation programs and start-up ecosystems, Ayaba said: "If we agree that a well-developed start-up ecosystem is essential to promote technology and innovation We must accept that innovation hubs and incubation centers, as an integral part of any start-up ecosystem, would be very useful. "

Ayaba said GSASA would continue to work with partners SAIS (Southern Africa Innovation Support Program), CABAN Investments and Burj Financials, to carry out several activities in sight for 2019.

"This will lead to the next edition of the awards, including the Global Startup Awards event in which our region will participate in 2019."