A call to action to stimulate investment in African innovation – SIERRA LEONE TELEGRAPH
Sierra Leone Telegraph: June 30, 2021:
Viva Technology, the Presidential Council for Africa (CPA) and Seedstars Africa Ventures announced new public-private partnerships and private investments to support and promote African and diaspora entrepreneurship. These announcements are a further illustration of the dynamics of African entrepreneurship and the increasing attractiveness of technological innovations and economic growth in Africa.
In a joint appeal, Vivatech, CPA coordinator Wilfrid Lauriano Do Rego and Seedstars Africa Ventures also called on large corporations and institutional investors to build on this momentum and join efforts to support Africa’s growing economies with new funding models.
Strong support from Franck Riester, Minister for Foreign Trade and Economic Attractiveness and CÃ©dric O, Minister of State for Digital.
Today’s announcements directly echo the New Deal for Africa signed on May 31 by key African and global heads of state, which declared entrepreneurship as Africa’s greatest asset and called for “African entrepreneurs” [to] access funding by targeting the most crucial phases of their projects, including start-up. said Charles Michel, President of the European Council.
Franck Riester said: âWe need to further encourage the development of entrepreneurship in Africa, which is one of the keys to preparing the future of the continent’s youth. This is why we are supporting the ecosystem with the Africa Pass, offered by the CPA and its partners. This new partnership with Seedstars Africa Ventures is an important step in facilitating access to capital finance for entrepreneurs of today and tomorrow. And through its commitment on the continent, Vivatech is helping to accelerate investments in African innovation, in the service of growth.
âThe African technology industry is developing at a very rapid pace in sectors such as financial services, mobility, logistics or agritech. However, stronger connections between French and African entrepreneurs and investors must be created in order to build long-term cooperation. This is why I wanted to support this important initiative, which is in line with the objectives of the CPA announced by the President of the Republic in 2017 â, declares CÃ©dric O.
ANNOUNCEMENT 1: LAUNCH OF THE AFRICATECH AWARDS BY VIVATECHNOLOGY
With the AfricaTech Awards ceremony scheduled for the 2022 edition of VivaTechnology in Paris and online, this pan-African initiative highlights startups and founders with the strongest positive impact for African citizens and societies.
The objective: to identify and bring out the most promising start-up solutions making a significant contribution to African growth in key sectors: Agriculture, Health, Finance, Energy, Retail, Education.
The AfricaTech Awards are more than an award; it’s a call to action – a 360Âº program that runs throughout the year as the next edition of Viva Technology approaches. The awards offer many benefits such as speaking opportunities, visibility in the media and among companies and venture capitalists, business opportunities and mentoring throughout the year. Viva Technology is very proud to welcome the International Finance Corporation (IFC) as one of its main partners. In addition, the AfricaTech Awards Entrepreneur web series will be launched to inspire and create more opportunities. AfricaTech Awards partners will be announced in the fourth quarter, including a leading international organization, global media partners, companies and VCs.
Makhtar Diop, Managing Director of IFC: âAfrican innovators change countries one start-up at a time and develop local solutions, from fintech to edtech or health. However, more than 80% of African startups report difficulties in accessing finance. To help close this funding gap, I am delighted to join VivaTech today to announce IFC’s collaboration on the new Africa Tech Awards which will identify and promote Africa’s most promising and innovative tech entrepreneurs to can receive financial support, mentoring opportunities and contacts with key investors. . “
ANNOUNCEMENT 2: PASS AFRICA PARTNER WITH SENEGAL AND CTE D’IVOIRE, AND WITH SEEDSTARS AFRICA COMMITTED TO STRENGTHENING LINKS WITH AFRICA ENTREPRENEURSHIP ECOSYSTEMS
Pass Africa is a unique and priority route created within Bpifrance to accelerate entrepreneurs operating between France and African countries, in terms of investment, financing, insurance, guarantees and support for innovation. It is also a mobilized and connected community, which offers networking, communication and partnership opportunities.
As part of today’s announcements, the CPA unveiled major partnerships with its Ivorian and Senegalese counterparts to link the Pass Africa label to programs for diaspora entrepreneurs in these countries. These agreements aim to create synergies and facilitate the exercise of the activities of Pass Africa laureates in partner countries. Other partnerships are under discussion. Finally, Seedstars Africa Ventures and Pass Africa will join forces to facilitate access to capital for startups in the diaspora and provide them with support for the African market and international networks.
Wilfrid Lauriano Do Rego, CPA Coordinator: âPass Africa is not only a support program for startups, it is a priority. This is the recognition of the priority that we wish to give to the African diaspora in France, a powerful catalyst for innovation and economic growth, both in France and in Africa. We want Pass Africa to be a new response to the challenges of entrepreneurship in the diaspora. And we want to take the successes of these entrepreneurs to the highest level. “
Maxime Bouan, Managing Partner at Seedstars Africa Ventures: âAs we constantly seek to expand our partnerships with international and regional institutional players, the approval of Pass Africa will directly contribute to facilitating market access and revenue growth for these entrepreneurs.
ANNOUNCEMENT 3: SEEDSTARS AFRICA VENTURES PARTNERS WITH LBO FRANCE FOR ITS $ 100 MILLION FUND FOR AFRICAN ENTREPRENEURS EARLY STAGE
Aiming to fill the existing investment gap in Africa, Seedstars Africa Ventures is partnering with LBO France as part of the new African strategy of the French private equity firm totaling 6.3 billion euros in commitments. In cooperation with Seedstars, a global emerging market accelerator active in 25 African countries, the fund focuses on financing innovative companies operating in sub-Saharan Africa in seed and Series A towers.
Robert Daussun, CEO of LBO France: âAfrica has become the new frontier for LBO France with Venture as one of the strategies that we are implementing on the continent. Innovation is dynamic, the atmosphere is incredibly positive and demographics and the economy are powerful engines. The partnership with Seesdstars is a great opportunity to approach this new market.
The fund closes its third investment, increasing its footprint from education and connectivity to agriculture. It leverages a presence across the region to invest in start-ups in all sectors, beyond the region’s major technology hubs. By investing up to $ 2 million and with reinvestment capacity, the fund acts as the missing link between accelerators and later stage funds.
Maxime Bouan, Managing Partner: âThe integration of LBO France is a major step for African entrepreneurship because it shows the attractiveness of the venture capital segment and the growing comfort of international investors to invest in African innovation in phase starting.
Financed by private institutional capital, the fund is joined by public institutions and companies.
Tamim El Zein, Managing Partner: âLBO France’s commitment is a strong signal for the market, encouraging companies and other institutional investors to join forces and take full advantage of the African growth opportunity.
About Viva Technology
In just four years, VivaTech has grown into the largest startup and tech event in Europe and is recognized around the world as a powerful catalyst for business transformation, startup growth and innovation for the common good. Each year, VivaTech brings together the world’s leading business leaders, startups, investors, researchers and thinkers in Paris for a unique experience combining inspiration, networking and innovation showcase. From 2021, VivaTech will be enriched with a digital platform that will bring together an even larger community of innovators. In 2019, VivaTech had already reached 231 million people worldwide and gathered 124,000 visitors on site in Paris, including more than 13,000 startups, 3,000 venture capitalists and 2,500 journalists from 124 countries. The fifth edition of VivaTech takes place from June 16 to 19, 2021.
About the Presidential Council for Africa (CPA)
The Presidential Council for Africa (CPA), which was officially announced in Paris by the President of the Republic Emmanuel Macron on August 29, 2017 in his annual speech to ambassadors, is part of the president’s commitment to renew the partnership between France and the African continent. The members of the CPA are volunteers, drawn from civil society and part of the African diasporas. This independent structure aims to develop a permanent link with civil society, young people and African diasporas, in order to better take into account their expectations and concerns, and to formulate proposals for actions related to promising sectors in the relationship with France. -Africa, such as entrepreneurship, innovation, sustainable development, education, health …
About Seedstars Africa Ventures
Seedstars Africa Ventures is a pan-African venture capital fund positioned as the missing link between early investors (eg The fund focuses on African innovation and seeks to finance and support the continent’s next champions, with an existing presence in 25 countries in sub-Saharan Africa Seedstars Africa Ventures is an institutional fund supported by companies, financial institutions and family offices, both African and international.