The present growth rate which Africa is experiencing is as a result of innovation and entrepreneurship in the continent’s technological ecosystem.

And there are three key areas that are driving growth and job creation among emerging economies.

  1. Innovation

Tech hubs innovative start-ups are springing up in sub-Sahara Africa and north of Africa.

These start-ups are as a result of incredible innovations that are taking place in Africa, which of course attract funding.

The rule of thumb is, if there is nothing of value in the marketplace, there will be no funding. The creation of private funds by taking equity in early stage start-ups whilst offering business support remain a sensible source of funding.

The breeding ground for this innovation is as a result of the ready presence of paid for “co-working space”, and the increase in corporate partnerships.

  1. Funding

There is a spike in funding from Funding Report 2017, with a spike of 51% to 195% as compared to the same period in 2016. It’s interesting to note that the majority of the funding of Africa’s tech hubs are basically grant funded by foundations and governments. There is, however, a shift in growth toward social ventures and towards profit and self-funded initiatives all of which have fast-tracked growth.

  1. Collaboration

The dynamics of collaboration have changed and still rapidly changing in recent days. These changes are reflected in the market space as the agenda is constantly pushed forward. The collaboration philosophy is enforced by the knowledge of its place in the key role they occupy in the development of the big society and economy of Africa in the coming years and beyond.

This has translated to the role of investor, and educational institutions and tech corporation and mobile operator who have started exploring and shaping the national and local ecosystem.