Following researches and evidences in support of the case for Africa’s emergence into the global economic landscape, Mr. David Duckenfield, deputy assistant secretary for Outreach, Bureau of Public Affairs at the United States Department of States, believes that the ecosystem has shown signs of readiness for high technology start-ups.
Duckenfield who was speaking at DEMO Africa 2014 held in Lagos recently, said that, a great number of African countries are demonstrating real promise toward a market-led economic system, which will pave way for inward investment opportunities and economic growth.
He said that, by promoting entrepreneurship, especially among students and young professionals, in other words, the next generation of innovators and inventors, harnessing their energy and creativity, the Continent is contributing to a culture of innovation and collaboration that creates opportunity and economic prosperity.
The Deputy Assistant Secretary noted that, “As at today, real start-ups are being created in Africa. They are developing real-world solutions worthy of real investment and global attention. This is the rise of the African economy for mutual economic benefits”.
40 start-up pitched their solutions at the first DEMO Africa held in Nigeria; out of whom 14 were Nigerians.
Duckenfield added that given the scenario, “Now is the time for African tech entrepreneurs to flourish and they are doing so through platforms like DEMO Africa.
“From the perspective of the U.S Department of State, one of the founders of the LIONS Africa…we see this event as a premier platform for the most innovative companies from across the Continent to launch their products and announce to Africa and the World what they have developed.
“The LIONS AFRICA partnership is aimed at strengthening and deepening the ecosystem for innovative entrepreneurship across Africa…By supporting, inspiring and challenging African innovators and entrepreneurs through various LIONS AFRICA initiatives, including DEMO Africa, we are cultivating an innovation ecosystem that enables growth and facilitates new investments”.
He described the LIONS AFRICA partnership as promoting a value chain referred to as 4Cs of engagement, capacity, connectivity, credibility and capital.