Just Like finding a soulmate or Hairstylist, It’s also one of the best things to finding the best breeding ground for your startup. Early this year we were like since we are struggling hard as a continent in developing and nurturing startups then we should emulate some of the main factors from The great Silicon Valley. Apparently, We were certainly missing a point, We just had to become who we are because of very many factors that differ in all the regions.
According to Startup Genome, Silicon Valley seems to be a fade in the dark, Sorry Silicon Valley! but someone elsewhere is doing what you were to do. With Keen Interest, that we have noticed from the likes of Elon, Zuckerberg, Gates and more, They happen to love Africa, what we create many VC’s are routing to Africa, Geeks on a Plane, en route through Africa. This should arouse questions before its too late for us a continent.
Startup Genome has dedicated itself to loving and researching about startups: for the past few years, it has done some great profiling of startups and cities that are manured sufficiently for the startups.
“Startup Genome is a global collaborative effort to help regions everywhere nurture and maintain thriving tech startup ecosystems. Our insights, gathered from 10,000+ startup companies and 300 partner organisations, provide a starting point for founders, employers local leaders, and policymakers in 50+ cities around the world to make informed and timely decisions that drive innovation and economic growth.”
Though we may not be Among the top in the Startup Ecosystem Dominance, But Surely we are growing from where we were.
The Reign of President Donald Trump began with a big blow for the tech community in Silicon Valley, I guess this was an eye opener that we should not only focus on the silicon valley but we should create super and minor Silicon valleys in other countries. Since we started focusing on African Startups, we’ve seen a big loop in all the top regions that have best startups and hubs, South Africa, Kenya, Nigeria and Morocco, Egypt.
So Sadly the so named Silicon Savannah happens not to be on the list anyway there is next time after learning, We have been noticing most of the VC acquisitions have come from the west and South only a few percentage comes from the east of Africa. Jo’burg, Capetown and Lagos happen to be listed in the 2017 global report, Scrapping out a few of the African noted points in the three cities:
- Capetown’s Silicon Cape happens to be a good breeding ground fro startups in the South and it happens to be the largest startup ecosystem in the African continent, with between 700 – 1,200 active tech startups with One-third of Cape Town startup founders have gained at least two years of prior experience in a fast-growing startup, making them 5% more experienced than the global average. Cape Town startups require 53 days to hire a software engineer. While it takes 9 days longer in Johannesburg, the global average lies at 46.
- Johannesburg indicates the 3rd highest percentage of startups that experienced positive corporate interest and
involvement, at 67%. The global average is at 51%.Johannesburg startups have one of the toughest times hiring engineers, with a median time of 60 days compared to the global median of 41 days and As of today, Johannesburg is already home to an estimated 200-500 currently active tech startups.
- Lagos, the most populated and fastest growing city on the African continent, is a rising star in the global startup ecosystem. The city has transformed tremendously in the last four years, as reflected in skyrocketing smartphone use and connectivity.While Nigeria is busy adding six million new internet users every year, the feverish entrepreneurial energy of Lagos and its estimated 400-700 active startups stayed consistent by providing them with useful new technologies and At $2 billion, the Lagos startup ecosystem is the most valuable startup ecosystem on the African continent, but only second in number of startups after Cape Town. The Lagos ecosystem has the 9th highest rate of Founders with an Undergraduate Degree at 59% while 93% of them have a technical background, the 3rd highest rate in the world. Lagos startups have one of the lowest rates of Foreign Customers at 6%, suggesting challenges to Go Global (overall average at 23%). Only 11% of startups plan to Go Global.
This Is safe to Say We have a good competition in The West and the south, but where the north and East? You can read the whole 2017 global report Here.