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SEED FUN
Fostering Africas entrepreneurial ecosystem.
DEFINITION:
SEED FUN: Driven by ability, curiosity or necessity, and facilitated by new digital platforms, schemes and initiatives, Africans are busy creating, hacking, competing, combining, inventing and reinventing almost everything. Organizations that fuel this endless rush towards - and participate in - SEED FUN will attract love and attention from all consumers, not just the individuals and startups they help.
www.trendwatching.com/africa/trends/seedfun
SEED FUN
2. STarT UP rEVOLUTION
Shunning the rat race.
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RAGE AGAINST THE MACHINE
New solutions to large-scale, lingering problems.
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Africans today are even more empowered with accessible technologies and tools to create, connect, share and bring their ideas to market.
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STarT UP REVOLUTION
Shunning the rat race.
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SEED FUN
sTarT UP rEVOLUTION
Self-Employed Beats Unemployed
Outward looking, business-minded, tenacious and rebellious young adults are increasingly opting for entrepreneurial opportunities that allow them to shape own career paths, rather than wait for an uncertain one dictated by others.
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Only 14% of African entrepreneurs believe that schools devote enough time to teaching entrepreneurship.
- Omidyar Network, April 2013
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In December 2013, Ugandan businessman Ashish Thakkar was named the worlds best young entrepreneur.
- The World Entrepreneurship Forum, December 2013
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The 2013 Forbes list of world billionaires named Nigerian cement tycoon Aliko Dangote, worth an estimated USD 16.1 billion, the richest black man on the planet.
- Forbes, March 2013
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THE RACE FOR AFRICAS SILICON VALLEY
The rise of tech cities, hubs, accelerators, incubators, initiatives and more
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African hubs are springing up at the rate of nearly one every two weeks
- Africa Renewal, May 2013
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In Sub-Sahara Africa, the perception that individuals have the skills necessary to start and successfully run a business averages at 76%. This figure is substantially higher than all other regions around the globe.
- Global Entrepreneurship Monitor, November 2012
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4
GREY MARKET REMIXED
Extending, upgrading and formalizing the informal economy.
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60% of sub-Saharan Africans agree that to successfully launch a new venture, it is acceptable to begin by operating in the informal sector.
- Omidyar Network, April 2013
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Kenyan household incomes increase between 5 and 30% for those who adopt M-PESA.
- The Economist, May 2013
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ExamPLEs...
Just a few of the brands and businesses already having SEED FUN.
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Anzisha Prize
Prize showcases the best of Africas young entrepreneurs.
Anzisha Prize acknowledges young
entrepreneurs across Africa who have conceived new innovations and started impactful businesses in their communities. In April 2014, selected finalists will be treated to an all-expenses paid, week-long entrepreneurial workshop in South Africa, as well as funding and other resources.
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TechCabal
Startup competition launched during Social Media Week Lagos.
In February 2014, Nigerian online entrepreneurial publication TechCabal hosted its first edition of TechCabal Battlefield. The competition, which ran during Social Media Week Lagos, challenged early stage startups to present their ventures to an audience of users, geeks and investors.Prizes included funding, contributed by major brands such as Stanbic IBTC Bank, Etisalat and Konga.com.
www.trendwatching.com/africa/trends/seedfun
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Hubs in Africa
Zambian website maps every technology hub and innovation center in Africa.
Hubs in Africa, powered by a Lusakabased technology hub, BongoHive, is an online platform that digitally maps all of Africas other innovation and hacker spaces. Hubs in Africa also curates content such as news on the startup ecosystem.
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Three years after launching, with over 10,000 members and 152 companies spawned from the community, Kenyas iHub became the first African technology hub to make FastCompanys Most Innovative Companies 2014 list.
- Fast Company, February 2014
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Hypercube
Zimbabwe opens its first technology hub.
November 2013 saw the launch of Zimbabwes first technology hub,
Hypercube. The hub aims to encourage
innovative solutions with meaning by focusing on these four dimensions of technology: community, co-learning, co-working, and co-innovation.
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initiative for developing business opportunities in Africa in conjunction with local universities, development agencies, startups and clients. With the intention of solving key issues through commerciallyviable ventures, IBM will exploit Watson, their pre-established cognitive system, via multiple research laboratories across the continent.
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HacKIDemia: Afrimakers
Global maker workshops encourage young Africans to solve local problems.
In January 2014, mobile invention hub
HacKIDemia won funding to implement
Afrimakers an initiative aimed at empowering African makers to develop sustainable projects and use making to solve local challenges. Maker workshops for over 1000 children in 10 countries such as Rwanda, Botswana and South Africa have been implemented.
www.trendwatching.com/africa/trends/seedfun
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Spark
Nigerian Serial Entrepreneurs initiate USD 1 million investment into Lagos-based startups.
In May 2013, Spark, a company builder organization founded by Jason Njoku, Bastian Gotter and Mary Remmy-Njoku of IROKOtv fame, initiated a USD 1 million investment into Lagos-based tech startups. In February 2014, one of Sparks initial investments bus ticketing service, bus.com.ng, became Nigerias largest bus travel website.
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kLab
Rwandan tech hub partners with university.
Founded in Kigali,Rwandas first tech innovation hub, kLab, announced plans in September 2013 to collaborate with universities in order to reach a broader demographic. The kLab Campus Program aims to provide mentorship, training and a location students or graduates can benefit from. kLab currently boasts 80 members and 11 startups.
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to drive innovation, investment and economic growth by enabling access to government data. The Initiative aims to make available high value public sector datasets to Nigerian citizens, entrepreneurs and businesses, for free.
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Soko
E-commerce platform connects Kenyan Artisans with global customers.
In October 2013, Africas first mobile marketplace, Soko unveiled its Kenya Collection, connecting global shoppers with Kenyan jewelry artisans. The e-commerce platform not only empowers skilled craftspeople based in developing communities traditionally disconnected from the digital economy, but also ensures that all materials used are natural and upcycled.
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Empire Communications
Zimbabwean communications brand supports young entrepreneurs.
In January 2014, Tawanda Chitiyo founder of PR agency: Empire Communications, revealed plans to provide PR and media support to Zimbabwes tech startups. Young entrepreneurs will be targeted in the countrys rural areas, farms and marginalized areas. Empire Communications intends to introduce mobile web advertising, interactive text messaging, and other more engaging communications strategies for these entrepreneurs.
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FirstBank
Bank partners with e-commerce platform for Nigerian entrepreneurs.
In Q4 2013, FirstBank Nigeria collaborated with social commerce platform 3AL. 3AL is an online self-service platform that enables entrepreneurs to create an online store and interact with customers. FirstBank securely processes payments through their own FirstEConnect gateway and purchased items are delivered directly to customers.
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Jumpstart Africa
First crowdfunding platform to support African entrepreneurs launched.
Launching in March 2014, Jumpstart Africa is an Africa-specific crowdfunding platform that will allow foreign investors to financially support innovative projects and ventures developed by African entrepreneurs. Jumpstart Africa will contribute 10% of total profits to a curated selection of charities focused on developing Africa.
www.trendwatching.com/africa/trends/seedfun
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AfricaHackTrip
European project documents Africas startup scene.
Between September and November 2013, a group of developers and designers from Europe traveled to Africa for AfricaHackTrip, a project documenting the African startup scene. In an effort to bridge the gap between entrepreneurial communities globally, the project participants met 10 key hackers from the region and showcased African hacking culture on the site.
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StartupBus Africa
African entrepreneurs launch startups on a roadtrip.
In November 2013, StartupBus began a road trip for the first time across the southern region of Africa. The goal for the 15 African and 15 international participants (known as buspreneurs) was to conceive, build, and launch their startup.
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Globevestor
Online platform connects global investors with African startups.
Globevestor connects international investors with emerging market startups. The online platform boasts a diversified portfolio and pre-screens startups to ensure high-impact investments. Globevestor is free to join and receives payment upon completion of successful investments.
www.trendwatching.com/africa/trends/seedfun
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Ryerson University
Canadian university offers placements to South African students.
Canadian Ryerson University announced in February 2014 that they would be accepting exceptional student entrepreneurs from South Africa. The initiative will provide these aspiring entrepreneurs with a three or four month placement at a Ryerson incubator zone in Canada, where they would have access to mentorship, office space, networking and collaboration opportunities with local startups.
www.trendwatching.com/africa/trends/seedfun
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OPPORTUNITIES
Now is the time for all brands to join in the SEED FUN! Wondering how?
www.trendwatching.com/africa/trends/seedfun
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BE A CHEERLEADER
Think creatively about how to encourage local startups.
INVOLVE EVERYONE!
Customers like and want to get involved with the SEED FUN but sometimes lack the resources or platforms to do so. How about rewarding consumers that support crowdfunding projects?
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Of course all startups are seeking investment, funding, mentorship and consultative support. Why not take a chance? If thats too demanding, then experiment with an informal hackathon or workshop.
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