Hubs in Africa; The Entrepreneur Dilemma of Choosing What Program to Join and Which One Not To
Sidi Saccoh
Entrepreneur | Speaker | Executive Mentor | Guest Lecturer| Operations Consultant | Tech Ecosystem Expert
Entrepreneurship across Africa continues to grow, largely powered by Entrepreneur Support Organizations (ESOs) such as accelerators, incubators, and venture studios as well as other actors. These ESOs have become the crucibles within which raw entrepreneurial ideas are forged into market-ready products and services. This model, inspired by the Silicon Valley ecosystem, has undeniably propelled many African entrepreneurs from the ideation phase to market entry. However, there's still a big question about how well these programs help businesses grow bigger.
A phenomenon often observed in the African entrepreneurial landscape is the migration of entrepreneurs from one hub to another. This was pointed out in a LinkedIn post I read, which asked a very smart question: why do they keep moving? The answer isn't simple, but from what I've seen, it often happens in places where the startup scene is still growing. Both the entrepreneurs and the support programs are trying to figure things out. If a program can't provide what entrepreneurs need most—like access to the market, money, or good press—they'll look for another program that can.
So, what makes some of these programs better than others? From my years of working with startups in Africa, the Middle East, and Europe, I've noticed a few key things but one particularly is paramount;
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Both entrepreneurs and ESOs are in a phase of exploration, trying to navigate the complexities of building scalable businesses. When a hub fails to deliver on key expectations such as market access, capital, and public relations support, entrepreneurs feel compelled to seek these resources elsewhere, thus leading to the observed hopping.
However, amidst this, there are examples of excellence that stand out. Through my observations and interactions, I've identified three critical factors that distinguish exceptional entrepreneurship programs in Africa:
Africa is a dynamic market, the more time entrepreneurs spend in the classrooms (workshops) the lesser their chances of success- programs need to offer the opportunity of product refinement for quick market adaptations.
The landscape of entrepreneurship in Africa is complex and varied. For entrepreneurs standing at a crossroads, deciding which program to embrace can shape their journey significantly. The hallmark of a great program lies not just in its ability to incubate ideas, but in its capacity to catalyse sustainable growth, market penetration, and scalability. As the ecosystem matures, the hope is for more programs to embody these qualities, creating a more vibrant, resilient, and innovative entrepreneurial landscape across Africa.
Excelle dans ton business en te libérant des blocages liés à tes 4 niveaux de mémoires inconscientes. ?? “Le succès vient vers toi grace à la personne que tu deviens”
11 个月Absolutely, the right program can truly make all the difference in an entrepreneur's journey! ?? Sidi Saccoh