News & Events

/, News/Mind and Hand: MIT And the Pursuit of African Entrepreneurship

Mind and Hand: MIT And the Pursuit of African Entrepreneurship

By | 2020-06-26T15:45:01+00:00 June 26th, 2020|Innovators & Inventions, News|

Medium –
The African startup scene has been on a roll for the past few years with numerous success stories and an increased appetite from American and international investors resulting in over $2 Billion raised in 2019, a 74% Year-Over-Year growth. While Covid-19 has significantly slowed startup funding down, one must look beyond this crisis to truly assess the growing strength of the African tech scene.

In the past three years, Silicon Valley-based Flutterwave raised over $60 million; an African venture capital firm led a $40 million series C round supported by GV, Salesforce Ventures and Spark Capital; Y Combinator accepted over ten African startups into its program; another five made it onto CB Insights’ Fintech 250; TechCrunch launched its first ever Startup Battlefield Africa; Novastar Ventures increased its fund size to $200M; and Goldman Sachs expanded its footprint on the African tech scene.

Read More on Medium