Tech Companies: Are They the Key to Africa's Growth

In an effort to build a more inclusive and opportunistic world, tech companies are opening shop in Africa. These tech companies are boosting both the social and economic growth of African countries as well as scaling and impacting the entire development of the continent. Products that might have taken years to sell to Africans are now being sold through e-commerce platforms. Information is now available across the entire continent, making Africa an incredibly large market for companies to tap into.

Tech companies have also become relatively cheaper to start, which makes developing a tech startup that much more attractive to the average African. This does however bring about a challenge—access to funding. All that these young entrepreneurs need is access to a computer and internet to get the funding they need to get started. Although still in the beta phase in Africa, crowdfunding is an excellent method of gathering small funds to assist in the development of a startup idea.

The Startup Africa Fund is a crowdfunding project that provides Africans with the ability to fund innovative tech ideas. The site was established in August 2012 and gives Africans access to larger funds that are focused solely on African tech startup initiatives. The goal of the Startup Africa Fund is to provide seed funding of $25,000 to $100,000 for one to four tech startups a month. Projects like these are pushing entrepreneurs to take risks and put their ideas out there in order infiltrate the continent and spur both social and economical growth across Africa. 

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