How AfriLabs is accelerating the development of Africa innovation space
How AfriLabs is accelerating the development of Africa's innovation space
When it comes to turning their ideas into profitable businesses, innovators and entrepreneurs across Africa frequently encounter a number of roadblocks along the way. Among the many lessons Maha Khannoussi, Senior Program Officer at Flat6Labs Tunisia, has learned from being a pioneer in the country is the critical importance of raising awareness about entrepreneurship in the country. In addition to connecting entrepreneurs with world-class competitions and summits, Flat6Labs also connects entrepreneurs with funding opportunities from regional and international investors.
In addition to funding challenges and an unfavorable environment for developing viable business models, the presence of regulations that stymie or prevent startups from progressing made navigating the landscape difficult. Nonetheless, as a result of this, the Startup Act was drafted, which has since become a model for several other African countries," Maha explained. "
When there are such gaps in the entrepreneurial ecosystem, it is extremely difficult for entrepreneurs to succeed, as is the case today. More innovators and communities, on the other hand, are able to promote innovative solutions as a result of the support and infrastructure provided by technology clusters. Maha and other members of the AfriLabs community have benefited from social and professional networking opportunities that have helped them to grow their businesses.
A large number of entrepreneurs in Africa start businesses out of necessity, and they lack the necessary experience and training to run their businesses profitably. As a result, organizations such as AfriLabs exist to facilitate connections between innovators and members of a larger community with whom they share common interests and objectives. The opportunities they provide are also important because they assist young and emerging entrepreneurs in growing their respective companies, which is critical.
African startups have also benefited from AfriLabs' assistance in expanding their operations across the continent. In the words of Maha, AfriLabs provided her hub with opportunities to network with African leaders as well as opportunities to learn from the experiences of various African organizations. "We hope to collaborate with more AfriLabs members on cross-country projects in the coming year," she stated.
Taking part in the AfriLabs community has been a transformative experience for Vincent Kumwenda, CEO of Malawi's first technology and innovation hub, Mhub. Being a part of the AfriLabs community has changed his life. He explains that the support of AfriLabs member hubs has contributed to the success of Mhub.
AfriLabs was founded by us, and we have reaped enormous benefits as a result of our participation. Members of AfriLabs member hubs provided us with a great deal of encouragement and inspiration when we first started in 2014. In addition, we've worked with tech hives in Zimbabwe and Sahara ventures in Tanzania to create new products. Our collective knowledge of project and financial management, fundraising, and a variety of other topics has been invaluable," Vincent explained.
Innovation hubs demonstrate that entrepreneurs can start small and grow their businesses in any part of Africa if they receive the appropriate level of support and funding. The African population, we discovered, presented numerous opportunities to collaborate with young people in order to rewrite the continent's narrative. " As a result, we identified opportunities to apply technology and innovation to address Africa's most pressing challenges. We also identified avenues to begin exporting our innovations outside of the continent, according to Francis Omojorie, co-founder of Ennovate Hub.
With the belief that emerging entrepreneurs should be supported, Ennovate Hub was established to provide top-tier business incubation and growth accelerator support to technology startups in Tanzania and across Africa. While the hub has achieved numerous successes, such as the launch of a green energy startup and the establishment of other innovative hubs, Francis describes his most valuable experience as being a member of the AfriLabs community as his most valuable experience. We've been a part of the AfriLabs Capacity Building program for the past year, which has provided us with numerous valuable lessons in the process of diversifying our business model. According to Francis, "This provided us with ideas for restructuring our business model and for strengthening our position as a technology hub."
Technology, on the other hand, provides access to the entire world. The digital transformation, in conjunction with innovation hubs, has enabled businesses such as Ennovate hub to thrive during life-altering events such as the COVID-19 pandemic, among other things. In order to accommodate our members' unique requirements, we developed a culture of hybrid programs that were delivered remotely, primarily through online platforms." As Francis explained, fortunately, our community and stakeholders have become accustomed to this mode of operation, and we have been able to adjust accordingly, Another group of startups has also been successful in scaling their operations and making an impact in a rapidly expanding environment.
As a result of innovation hubs, entrepreneurs have been able to develop innovative business models, create new employment opportunities, and improve the quality of financial services.
We have assisted hundreds of entrepreneurs since our inception, resulting in the creation of hundreds of new jobs in Malawi. As a result of our assistance, they have been able to resolve issues that have arisen in the community. Within the company, we've also made significant contributions to the development of our systems, such as election monitoring systems. For me, it's been an eye-opening journey, and I'm grateful to have been a part of it," Vincent expressed his gratitude.
When discussing how entrepreneurs can stimulate growth and social development in Africa, Maha emphasized the importance of not only being resilient, but also collaborating with supporting structures such as accelerators and innovation hubs. Maha also mentions that one of her long-term goals is to establish venture capital funds that are specifically dedicated to African women business owners.
In spite of the numerous obstacles to small business growth and survival on the African continent, Africans have maintained their entrepreneurial spirit. A recent report by the Global Entrepreneurship Monitor found that entrepreneurs on the continent experience the lowest levels of "fear of failure," with only 24 percent claiming that it would prevent them from starting a business or seizing business opportunities. The continent's innovative and determined entrepreneurs intend to pursue even greater business ambitions in the future, which bodes well for the continent's economic future.
Mhub is working to expand its presence in rural areas, which account for 80 percent of Malawi's population. In addition, we want to contribute to the creation of a favorable environment in terms of infrastructure, skill acquisition, and government support and cooperation. According to Vincent, "We are hopeful that this will result in some modifications, such as changes to government regulations."
African Innovation Laboratories (AfriLabs) and other innovation communities will continue to be critical pillars of economic transformation, particularly in the continent's developing economies. These hubs are the lifeblood of any innovation ecosystem, as they bring entrepreneurs, government officials, corporate executives, and development organizations together to work toward a common goal: the advancement of the entrepreneurial enterprise.
In 2021, members of the AfriLabs community as well as key players in African innovation – including hubs, start-ups, academics, investors, corporate organizations, and development agencies – will convene to discuss the future of innovation on the continent. AfriLabs is a non-profit organization dedicated to the advancement of African innovation. Taking place in Abuja, Nigeria, on October 27–29, the AfriLabs Annual Gathering 2021 will have the theme "AfriLabs at 10: A Decade of Empowering and Inspiring Innovation Across Africa." For Afrilabs, this year marks the tenth anniversary of the organization, which serves as a watershed moment in the organization's history, illuminating the remarkable growth of the African Technology and Innovation Ecosystem over the years.
