Global Courant 2023-05-03 17:22:15
Africa’s tech landscape is evolving rapidly and so is its startup culture. As a result, many African startups are now taking center stage, with their innovations and creative ideas gaining global recognition. From Nairobi to Lagos, young entrepreneurs are using technology to solve local problems and create innovative new businesses. These startups not only address issues such as access to healthcare, education and finance, but also drive economic growth and job creation.
Several factors are driving this rapid growth, including the continent’s young, tech-savvy population and regulatory environment. However, none of these were enough to avoid boot errors. As of 2020, more than half of African startups failed, according to Statistics. In Ethiopia and Rwanda, the number of survivors had fallen to just a quarter (25%). So while countless startups are popping up to drive innovation, their chances of survival are not high enough.
One of the reasons is that many startups operate in isolation. The startup culture in Africa is still very young and volatile, so it takes more than great ideas and coding skills to build sustainable businesses. That is why incubators, tech hubs and accelerators have become more important than ever for the ecosystem. They help companies overcome obstacles such as lack of space, money, mentorship and training.
Amidst this dynamic startup ecosystem, Gullit has emerged as a key player, mentoring and investing in scalable early stage African tech startups. The company has backed several fast-rising ventures such as WellaHealth, BuuPass, Qene games And Gebeja. Gullit also finances companies through seed, pre-seed, debt underwriting and restructuring rounds. And now Gullit is stepping up its impact strategy.
Gullit has now opened a new office in Addis Ababa with a startup accelerator program. They offer access to free legal and financial services and a 300m co-working space. The space is equipped with coding pods, a play area, a cafeteria, a workspace in the outdoor garden, two meeting rooms and a yoga room. Gullit also has two offices that it assigns to select startups.
G-Media and Kinetic Business Intelligence (KBI) are currently tenants of the spaces. G-Media is a dynamic Branding & Advertising agency in Addis with a small animation studio, while KBI focuses on the development of Business Intelligence Software in Africa.
G Media, the media arm of Gebeya, a pan-African talent marketplace, has built a reputation for providing digital marketing solutions to businesses across Africa. The company has worked with several clients, including Ethio Telecom and Ethiopian Airlines, Africa’s largest telecommunications provider and Africa’s largest airline, respectively. G-Media has been instrumental in promoting Ethio-Telecom’s digital marketing efforts and will soon launch a campaign for Ethio Telecom’s mobile money super app. It also partnered with Carry1st to develop digital marketing content for African games.
KBI, on the other hand, is the US entity of ETM software, an Ethiopian software development company that specializes in developing custom software solutions for businesses. Right now, KBI’s main focus is on building business intelligence software that leverages generative AI. This software helps companies and non-governmental organizations understand, analyze and present their vast amounts of data. KBI works closely with the UNHCR and develops its refugee tracking software (Compliance and Service Request System), which it has deployed in East Africa.
“Gullit has provided us with mentorship, advice and exposure over the years,” said Mikiyas Amdu, KBI’s spokesperson. “We look forward to the next phase of growth for our company in terms of increased sales. By partnering with Gullit, we feel we are in this unique space where we can grow exponentially by working together and leveraging the services and coaching their teams provide.”
Gullit’s launched its incubator to offer startups more than just an office space. Instead, it offers an extensive range of services to support startups. The accelerator program will run for 18 months, after which it will start charging membership fees for startups that choose to stay.
Space at Gullit’s offices is very limited. Startups wishing to apply can contact Gullit to express their interest through the company website.
