trendwatching.com march 2014 AfRICA TRend BulleTIn seed fun SEED FUN.pdf · and initiatives,...

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SEED FUN trendwatching.com MARCH 2014 AFRICA TREND BULLETIN Fostering Africa’s entrepreneurial ecosystem.

Transcript of trendwatching.com march 2014 AfRICA TRend BulleTIn seed fun SEED FUN.pdf · and initiatives,...

Page 1: trendwatching.com march 2014 AfRICA TRend BulleTIn seed fun SEED FUN.pdf · and initiatives, Africans are busy creating, hacking, competing, combining, inventing and reinventing almost

seed fun

trendwatching.com march 2014 AfRICA TRend BulleTIn

Fostering africa’s entrepreneurial ecosystem.

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Definition:

SEED FUN: Driven by ability, curiosity or necessity, and facilitated by new digital platforms, schemes and initiatives, Africans are busy creating, hacking, competing, combining, inventing and reinventing almost everything. Organizations that fuel this endless rush towards - and participate in - SEED FUN will attract love and attention from all consumers, not just the individuals and startups they help.

SEED FUNwww.trendwatching.com/africa/trends/seedfun 2

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1. RAGe AGAinSt tHe MACHine New solutions to large-scale, lingering problems.

2. StARt up Revolution

3. tHe RACe foR AfRiCA’S SiliCon vAlleY

4. GReY MARKet ReMiXeD

Shunning the rat race.

The rise of tech cities, hubs, accelerators, incubators, initiatives and more…

The extension, upgrading and formalization of the informal economy.

DRIVING THIS TREND:

SEED FUNwww.trendwatching.com/africa/trends/seedfun 3

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RAGe AGAinSt tHe MACHineNew solutions to large-scale, lingering problems.

1

SEED FUNwww.trendwatching.com/africa/trends/seedfun 4

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Heightened awareness of government corruption, corporate

scandals, ineffective infrastructure and public services,

mean that more daring Africans are determined to leverage

their own problem solving powers by transforming everyday

pain points into new business opportunities.

RAGe AGAinSt tHe MACHine

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africans today are even more empowered with accessible technologies and tools to create, connect, share and bring their ideas to market.

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StARt up Revolution Shunning the rat race.

2

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Outward looking, business-minded, tenacious and rebellious

young adults are increasingly opting for entrepreneurial

opportunities that allow them to shape own career paths,

rather than wait for an uncertain one dictated by others.

A new generation of enterprise-minded Africans are

eschewing the corporate ladder for startups, and trading

the traditional status attached to a corporate job for a new

version that comes with staking everything on a big idea or

new venture.

StARt up RevolutionSelf-Employed Beats Unemployed

The african Dream

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Only 14% of african entrepreneurs believe that schools devote enough time to teaching entrepreneurship.- Omidyar Network, April 2013

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In December 2013, Ugandan businessman ashish Thakkar was named the world’s best young entrepreneur.- The World Entrepreneurship Forum, December 2013

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The 2013 Forbes list of world billionaires named Nigerian cement tycoon aliko Dangote, worth an estimated USD 16.1 billion, the richest black man on the planet. - Forbes, March 2013

Bye bye Bill Gates…Entrepreneurial success stories are homegrown now.

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tHe RACe foR AfRiCA’S SiliCon vAlleYThe rise of tech cities, hubs, accelerators, incubators, initiatives and more…

3

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Ghana’s Hope City, Nigeria’s Eko Atlantic, Kenya’s Konza Techno

City, the list goes on… African governments and large-scale

developers are increasingly obsessed with creating environments

that are conducive to facilitating local, groundbreaking innovations.

This is not only about mega tech cities but also about all other

facets of the entrepreneurial ecosystem: venture capital firms,

innovation incubators, collaborative workshops, angel investors,

crowdfunding platforms, startup competitions, support, mentorship

and initiatives.

tHe RACe foR AfRiCA’S SiliCon vAlleY

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“african hubs are springing up at the rate of nearly one every two weeks…” - Africa Renewal, May 2013

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In Sub-Sahara africa, the perception that individuals have the skills necessary to start and successfully run a business averages at 76%. This figure is substantially higher than all other regions around the globe.- Global Entrepreneurship Monitor, November 2012

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GReY MARKet ReMiXeDExtending, upgrading and formalizing the informal economy.

4

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Thanks to the informal economy – embodied for many by

traditional outdoor markets, street hawkers, and non-franchised

resellers – many African consumers are already equipped with

an enterprising spirit and an ability to handle a fluid economic

environment. That means a smooth transition into a (often

digital-fueled) entrepreneurial ecosystem that is all about

enterprise and connection, and in which startups are judged by

their ability to solve tangible problems and improve lives.

GReY MARKet ReMiXeD

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60% of sub-Saharan africans agree that to successfully launch a new venture, it is acceptable to begin by operating in the informal sector.- Omidyar Network, April 2013

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Kenyan household incomes increase between 5 and 30% for those who adopt m-PESa. - The Economist, May 2013

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eXAMpleS...Just a few of the brands and businesses already having SEED FUN.

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Anzisha prize

anzisha Prize acknowledges young entrepreneurs across Africa who have conceived new innovations and started impactful businesses in their communities. In April 2014, selected finalists will be treated to an all-expenses paid, week-long entrepreneurial workshop in South Africa, as well as funding and other resources.

Prize showcases the best of Africa’s young entrepreneurs.

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techCabal

In February 2014, Nigerian online entrepreneurial publication Techcabal hosted its first edition of TechCabal Battlefield. The competition, which ran during Social Media Week Lagos, challenged early stage startups to present their ventures to an audience of users, geeks and investors. Prizes included funding, contributed by major brands such as Stanbic IBTC Bank, Etisalat and Konga.com.

Startup competition launched during Social Media Week Lagos.

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Hubs in Africa

Hubs in Africa, powered by a Lusaka-based technology hub, Bongohive, is an online platform that digitally maps all of Africa’s other innovation and hacker spaces. Hubs in Africa also curates content such as news on the startup ecosystem.

Zambian website maps every technology hub and innovation center in Africa.

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Three years after launching, with over 10,000 members and 152 companies spawned from the community, Kenya’s ihub became the first African technology hub to make Fastcompany’s ‘most Innovative companies 2014’ list.- Fast Company, February 2014

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Hypercube

November 2013 saw the launch of Zimbabwe’s first technology hub, hypercube. The hub aims to encourage innovative solutions ‘with meaning’ by focusing on these four dimensions of technology: community, co-learning, co-working, and co-innovation.

Zimbabwe opens its first technology hub.

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iBM: project lucy

February 2014 saw IBM announce Project

Lucy – a USD 100 million investment initiative for developing business opportunities in Africa in conjunction with local universities, development agencies, startups and clients. With the intention of solving key issues through commercially-viable ventures, IBM will exploit ‘Watson’, their pre-established cognitive system, via multiple research laboratories across the continent.

Multinational tech firm launches Pan-African project to boost business opportunities.

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HacKiDemia: Afrimakers

In January 2014, mobile invention hub hacKIDemia won funding to implement Afrimakers – an initiative aimed at empowering ‘African makers to develop sustainable projects and use making to solve local challenges.’ Maker workshops for over 1000 children in 10 countries such as Rwanda, Botswana and South Africa have been implemented.

Global maker workshops encourage young Africans to solve local problems.

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Spark

In May 2013, Spark, a “company builder” organization founded by Jason Njoku, Bastian Gotter and Mary Remmy-Njoku of IROKOtv fame, initiated a USD 1 million investment into Lagos-based tech startups. In February 2014, one of Spark’s initial investments – bus ticketing service, bus.com.ng, became Nigeria’s largest bus travel website.

Nigerian Serial Entrepreneurs initiate USD 1 million investment into Lagos-based startups.

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klab

Founded in Kigali, Rwanda’s first tech innovation hub, kLab, announced plans in September 2013 to collaborate with universities in order to reach a broader demographic. The kLab Campus Program aims to provide mentorship, training and a location students or graduates can benefit from. kLab currently boasts 80 members and 11 startups.

Rwandan tech hub partners with university.

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nigerian Ministry of Communication technology

January 2014 saw the Nigerian federal government launch the Open Data

Development Initiative in an attempt to drive innovation, investment and economic growth by enabling access to government data. The Initiative aims to make available high value public sector datasets to Nigerian citizens, entrepreneurs and businesses, for free.

Nigerian government launches open data development initiative.

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Soko

In October 2013, Africa’s first mobile marketplace, Soko unveiled its Kenya Collection, connecting global shoppers with Kenyan jewelry artisans. The e-commerce platform not only empowers skilled craftspeople based in developing communities traditionally disconnected from the digital economy, but also ensures that all materials used are natural and upcycled.

E-commerce platform connects Kenyan Artisans with global customers.

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empire Communications

In January 2014, Tawanda Chitiyo

– founder of PR agency: Empire

communications, revealed plans to provide

PR and media support to Zimbabwe’s

tech startups. Young entrepreneurs will

be targeted in the country’s rural areas,

farms and marginalized areas. Empire

Communications intends to introduce

mobile web advertising, interactive text

messaging, and other more engaging

communications strategies for these

entrepreneurs.

Zimbabwean communications brand supports young entrepreneurs.

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firstBank

In Q4 2013, FirstBank Nigeria collaborated

with social commerce platform 3aL. 3AL is

an online self-service platform that enables

entrepreneurs to create an online store and

interact with customers. FirstBank securely

processes payments through their own

FirstEConnect gateway and purchased

items are delivered directly to customers.

Bank partners with e-commerce platform for Nigerian entrepreneurs.

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Jumpstart Africa 

Launching in March 2014, Jumpstart africa

is an Africa-specific crowdfunding platform

that will allow foreign investors to financially

support innovative projects and ventures

developed by African entrepreneurs.

Jumpstart Africa will contribute 10% of total

profits to a curated selection of charities

focused on developing Africa.

First crowdfunding platform to support African entrepreneurs launched.

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Micro enterprise Development organisation (MeDo)

In February 2014, South African entrepreneurial

development group mEDO welcomed back 12

new businesses from the International Trade

Programme in the UK, after sending over

14 South African entrepreneurs in 2013 for

the program. Beyond exposing the selected

entrepreneurs to global entrepreneurial best

practice and resources, the initiative also aims

to trigger partnerships between UK and South

African businesses.

Entrepreneurial development organization sends South Africans to the UK for best practice program.

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AfricaHacktrip

Between September and November 2013,

a group of developers and designers from

Europe traveled to Africa for africahackTrip,

a project documenting the African startup

scene. In an effort to bridge the gap

between entrepreneurial communities

globally, the project participants met 10 key

hackers from the region and showcased

African hacking culture on the site.

European project documents Africa’s startup scene.

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StartupBus Africa

In November 2013, StartupBus began

a road trip for the first time across the

southern region of Africa. The goal for the

15 African and 15 international participants

(known as ‘buspreneurs’) was to conceive,

build, and launch their startup.

African entrepreneurs launch startups on a roadtrip.

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Globevestor

Globevestor connects international

investors with emerging market startups.

The online platform boasts a diversified

portfolio and pre-screens startups to ensure

high-impact investments. Globevestor is

free to join and receives payment upon

completion of successful investments.

Online platform connects global investors with African startups.

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Ryerson university

Canadian ryerson University announced in

February 2014 that they would be accepting

exceptional student entrepreneurs from

South Africa. The initiative will provide

these aspiring entrepreneurs with a three

or four month placement at a Ryerson

incubator zone in Canada, where they would

have access to mentorship, office space,

networking and collaboration opportunities

with local startups.

Canadian university offers placements to South African students.

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Now is the time for all brands to join in the SEED FUN!

Wondering how?

oppoRtunitieS

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If you truly want to be the disruptive brand in 2014 that offers supports to the risk-taking early stage innovators:

Identify any remaining barriers to entry for entrepreneurs within your sector, and knock them down…

Think creatively about how to encourage local startups.

Customers like and want to get involved with the SEED FUN but sometimes lack the resources or platforms to do so. How about rewarding consumers that support crowdfunding projects?

KnoCK DoWn tHe BARRieRS to entRY

Be A CHeeRleADeR

involve eveRYone!

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Promote African startups on your platforms, products or services.

Think about how you can help startups in disparate regions connect. Add value, and you’ll also be able to tap new ideas, energy, and talent.

Offer platforms on which African consumers can aggregate what they know and bring online communities together offline to solve communal problems.

The African startup community is still young and fragmented compared to its global counterparts, so the next Ashish Thakkar or Jason Njoku may be trickier to find than you anticipate. Cast your net wider by sponsoring entrepreneurial initiatives and competitions.

SpReAD tHe WoRD

ConneCt tHe DotS

Root foR tHe unDeRDoG

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“Up to 84% of small and medium-sized enterprises (SMEs) in Africa are either un-served or underserved.”- International Finance Corporation, April 2013

Of course all startups are seeking investment, funding, mentorship and consultative support. Why not take a chance? If that’s too demanding, then experiment with an informal hackathon or workshop.

Think joint ventures in which your industry expertise and economies of scale can leverage an entrepreneur’s brilliant innovation. This is bound to be mutually beneficial, especially for foreign brands where the right partnership could even help localize your offering.  

foSteR AnD GRoW

leveRAGe AnD CollABoRAte

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Do not ignore this trend! Your next competitor could be an African startup who has

succeeded, grown, and expanded to your doorstep! You only need to look at the plethora

of SEED FUN success stories already sweeping across the continent.

To apply this trend, start by unpacking it using our Consumer Trend Canvas tool:

www.trendwatching.com/trends/consumertrendcanvas

WHY inDulGe in SeeD fun?

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2. APPLY1. ANALYZE

TREND CANVASCONSUMER

What new consumer needs, wants and expectations are created by the changes identified above? Where and how does this trend satisfy them? Which (new) customer groups could you

apply this trend to? What would you have to change? How are other businesses applying this trend?

Which deep consumer needs & desires does this trend address? Why is this trend emerging now? What’s changing?

Shifts: Long-term, widespread macro changes Triggers: Recent, short-term changes or technologies

Emerging Consumer Expectations

TREND:

Basic Needs Drivers of ChangeHow and where could you apply this trend to your business?

Innovation Potential

InspirationWho

Download a blank worksheet at trendwatchingpremium.com

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