Recent years have shown that Africa can count on a rapidly growing network of startups. Although funding levels are not yet on par with other regions of the world, the continent's potential is real, boosted by the digitalization of various economic sectors. According to WeAreTech (source: Partech), the three sectors whose startups raised the most funds in Africa in 2021 are Fintech, logistics, and Edtech.
In the French-speaking sub-Saharan sub-region, the Senegalese ecosystem is particularly dynamic. In recent years, the country has stepped up its efforts to foster the emergence of successful startups and attract international investors. Wizall Money (fintech), Paps (logistics)… More and more young entrepreneurs are making their mark.
Moreover, to support the development of the network of local start-ups, the Senegalese government recently announced a new tax exemption measure for project leaders. This important measure aims to improve support for SMEs in the country and promote their development.
With the same goal in mind, the DER/FJ (General Delegation for Rapid Entrepreneurship for Women and Young People), in collaboration with the French Embassy, Bpifrance, the AFD Group, and other stakeholders, has officially launched the LionsTech Invest Community. Designed as a collaborative initiative, this community aims to promote and support Senegalese startups, strengthen them, and structure them to accelerate the sustainable development of the entrepreneurial and innovation ecosystem in Senegal.
The LIONSTECH Invest Community aims to select innovative Senegalese companies with high potential within the ecosystem to support their acceleration and connect them more easily with investors and strategic partners.
To achieve this, four main levers will be activated:
- Direct financing of innovative companies with high potential through a €2 million fund and co-financing opportunities.
- The implementation of acceleration programs and experts.
- The creation of a networking and services platform to bring the ecosystem together and connect it to potential local and international investors.
- The organization of events to give visibility to project leaders.