![]() ![]() And now, Gullit is intensifying its impact strategy. Gullit also finances companies through seed, pre-seed, debt acquisition, and restructuring rounds. The firm has backed several fast-rising ventures such as WellaHealth, BuuPass, Qene Games and Gebeya. They help businesses overcome obstacles such as lack of space, cash, mentoring, and training.Īmid this dynamic startup ecosystem, Gullit has emerged as a key player, mentoring and investing in scaleable early-stage African tech startups. That’s why incubators, tech hubs and accelerators have become more vital for the ecosystem than ever. Africa’s startup culture is still very young and volatile, so it will take more than great ideas and coding skills to build sustainable businesses. One of the reasons is that many startups work in isolation. So even though numerous startups are springing up to drive innovation, their chances of survival are not high enough. In Ethiopia and Rwanda, survivors were down to only a quarter (25%). As of 2020, more than half of African startups were failing, according to Statista. However, none of these has been enough to curb startup failure. ![]() Several factors are driving this rapid growth, including the continent’s young, tech-savvy population and regulatory environment. ![]() These startups are not only addressing issues like access to healthcare, education, and finance but also driving economic growth and job creation. From Nairobi to Lagos, young entrepreneurs are leveraging technology to solve local problems and create innovative new businesses. As a result, many African startups are now taking centre stage, with their innovations and creative ideas gaining recognition on a global scale. Africa’s tech landscape is rapidly evolving and so is its startup culture. ![]()
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