Is the Hype Surrounding The Technology Scene in Africa Justified?
The growth of the start-up scene in Africa has actually been so vigorous that there are concerns that the actual worth generated by such startups might not come up to the quickly increasing buzz, thus making it unsustainable. To be particular, there is a bunch of hype. VC4Africa, a community of early stage financiers as well as start-ups, credit reports that financial investments made through their channel doubled in 2014, increasing from merely $12 million in 2013 to virtually $27 million in 2014. Those financial investments seem well worth it, as the community of investors additionally reports that virtually half of all ventures begin generating revenue throughout their very first year. Bertrams Lukstins argues it’s a good opportunity with many challenges on the ground.
It is not merely residential angel financiers who want the start-up tech scene in Africa. A raising number of foreign capitalists are also turning their attention toward the breakneck speed at which technology is erupting in Africa. NewGenAngels, based in London, is simply one of the early-stage funds and angel networks functioning to make certain that start-ups in Africa have the funding needed to sustain their development.
Tom & Nev May 21st, 2016
Posted In: Business