ENRICH In Africa Night
The ENRICH In Africa Center (EIA-C) recently hosted the “Enrich in Africa Night”, where key stakeholders gathered to officially launch the report titled "Exploring the Funding Landscape of Africa's Tech Innovation Support Ecosystem." This event, held on 22nd April 2024, served as a platform for insightful discussions, engaging presentations, and valuable networking opportunities aimed at advancing innovation ecosystems across Africa.
The event witnessed an impressive turnout, with an estimated 50 attendees gracing the occasion. Among the participants were notable figures such as policymakers, ecosystem influencers, investors, representatives from academic institutions, and various ecosystem support organizations (ESOs). The diverse mix of attendees underscored the widespread interest and commitment towards driving positive change in the African innovation landscape.
Among the distinguished panelists were:
Catherine Young, founder at Thinkroom Consulting and an SME ecosystem influencer, shared valuable insights into the concentration of funding among select beneficiaries and the challenges faced by emerging ecosystems in accessing funds. Catherine emphasised the importance of collaboration and equitable distribution of resources to support diverse innovation hubs across Africa.
Mark Kleyner, the co-founder and programs director at Dream VC, discussed the rising trend towards specialisation in innovation ecosystems and strategies for aligning funders' priorities with the diverse needs of local communities.
Thuli Montana, an international development researcher and consultant and the Research & Insights Lead at Briter Bridges, shared her expertise in environmental and development policy. She highlighted the need for more collaborations to amplify the impact of funding and aggregate data, fostering a cohesive innovation support ecosystem in Africa.
Kgosi Motsoane who leads strategic initiatives focused on the implementation of EU-SA Strategic Partnership Agreement on Science, Technology, and Innovation. He discussed the EU's efforts to promote collaboration between Africa and Europe.
Matthew Emanuel, who leads Startupbootcamp AfriTech's portfolio holding companies emphasised on the importance of bridging the gap between funders, intermediaries, and local ecosystem organisations to create a more cohesive and impactful innovation support ecosystem.
Throughout the evening, several thought-provoking discussions and key messages emerged, highlighting the critical issues and challenges facing the tech innovation support ecosystem in Africa. One overarching theme that resonated strongly was the importance of collaboration. Participants emphasised the need for innovation actors to seek more opportunities to collaborate effectively, leveraging each other's strengths to maximise impact and address common challenges.
Moreover, there was a significant emphasis on the need for greater transparency in funding data sharing by funders. Participants called for a concerted effort to encourage funding institutes to share their funding data publicly, enabling stakeholders to gain a more comprehensive understanding of the funding landscape and ensure equitable distribution of resources.
The discussions also centred around the role of intermediaries, challenges faced by local ecosystem champions, and strategies to empower new entrants in the ecosystem. Participants shared insights, exchanged ideas, and proposed actionable steps to drive positive change and foster greater collaboration within the innovation ecosystem.
Looking ahead, EIA-C reaffirmed its commitment to fostering collaboration, partnerships, and data sharing initiatives to create a more inclusive and impactful innovation ecosystem in Africa. The center intends to publish the report annually, delving deeper into the funding landscape and providing valuable insights for stakeholders.
In closing, the ENRICH in Africa Center Manager, Zandile Ntuli, expressed gratitude to all the participants, panelists, and supporters who contributed to the success of the event. Their collective efforts and commitment are instrumental in driving positive change and advancing innovation ecosystems across Africa.