African Africakeneoka for TechCrunch is a brand of tech events and conferences which are hosted by a group of African businessmen and women. It aims to bring together business leaders and technology enthusiasts from across the world. The conference features workshops, panels, talks and keynotes on topics related to entrepreneurship and tech.
Fintech
When you look at the African tech scene, there are a number of reasons why it is different from the rest of the world. In general, there is a certain inflection point in the market, which is why startups are seeing a big uptick in value in this region. Some of the areas that are making a comeback include e-commerce, logistics, mobility, and fintech. These are all areas that have not seen the same level of uptake in other regions, especially the Global South.
Another reason is the pandemic-induced lifestyle changes that have resulted in more healthtech and edtech startups. However, many of these startups are still at pre-Series A stages, which are the beginnings of the VC lifecycle. For example, Tunisian edtech startup GOMYCODE has been backed by a Launch Africa Ventures fund. Also, in Kenya, e-commerce retail platform MarketForce is being backed by the same venture.
Edtech
The most important thing to know about African tech is that it is a unique industry. It has a lot to offer, including the best of both worlds. A combination of a lack of talent and resources, coupled with an enlightened and increasingly sophisticated consumer base, has created a market opportunity that can’t be ignored. This is particularly true of the startup space, which is where the major players are based.
In addition to announcing a $36.3 million fund, a Lagos-based venture capital firm, Future Africa, has teamed up with TLG Capital, an open-ended credit fund. These two firms have also teamed up on a new venture, Ejara, a decentralized investment app that lets users buy and sell crypto using their bank account or mobile phone.
Healthtech
TechCrunch’s Africa Reporter, Tage Kene-Okafor, has a knack for covering the latest and greatest in Africa. He started his career as an entrepreneur and has since been featured on Yahoo, Ventureburn, and other high-profile publications.
There is no doubt that tech has made its mark in Africa. The field is unique for several reasons, one of which is the fact that it has been touted as the next frontier for technological disruption. African tech startups have started churning out products and services in sectors such as healthtech, e-commerce, and logistics.
However, it isn’t just the newest startups that are making waves. Traditional businesses are also undergoing technological overhauls. Small restaurants have adopted point-of-sale providers to speed up order and delivery times, and mobile technologies are making life easier for millions of customers in both the developed and developing world.
Invest in startups earlier in their journey
Investing in startups earlier in their journey means you get a head start on their growth. You also get a chance to pick up some cash if the business is successful.
When it comes to startups, the best way to find a good investment is to carry out research and to get a sense of the company’s potential. However, you should be careful not to invest just because you are impressed with the idea. Investing in startups is not for everybody.
Finally
Startups are a fast-growing industry. They are changing age-old industries, and solving big problems with the click of a button. As a result, there are more entrepreneurs and more startups each year. Moreover, the number of applicants for startups in 2021 is the highest in more than a decade.
