Africa is catching up with the new and rapidly spreading entrepreneurial spirit and several technology, business, and innovation hubs are opening across the continent. They are a place for networking, bring startups and innovators together, and attract investors.
I think one of the biggest hurdle for many is to visualize how to get from where you are at the moment to becoming an active part of your industry in a given country. I have written several posts about the concept of ‘positioning yourself’ in the market place, and here is just another great example: a business or technology hub or incubator. Oh, and I should have mentioned: Owned and run by you.
Now, here is the real value of such a strategy: Yes, you will be able to make money from membership fees, courses, speed events, and cups-of-hot-coffee sales…but the real value in setting up this venture is that you are going to be right at the heart of a pool that brings immense talent together. Actually, you are the pool manager.
This means that you are sitting right at the source for anything around:….tech start ups, talents….innovative ideas….partnerships & matchmaking…..and investors who get in touch with your hub. You have used a unique strategy to position yourself and there are several ways how to monetize this position.
Let’s have a closer look:
One of Africa’s youngest Technology Incubator is JoziHub, which has opened its doors in Johannesburg to a new generation of African tech entrepreneurs.
Founded by the Praekelt Foundation in 2013 the city’s first technology incubator is backed by Omidyar Network, Google and ISlabs. The founders of JoziHub are determined to stress that they are not simply setting up a physical working space but an epicenter for technological development and entrepreneurship in Johannesburg. JoziHub has already hosted several events including TEDx, Google IO, and Tech4Africa and has developed into a small, dynamic community.
The aim is to foster close collaboration among various stakeholders such as research, private sector and public institutions, and in May the Chief Director of the Government’s Department for Science & Technology expressed interest to join the hub.
“Johannesburg is the financial capital of South Africa, with plenty of money and plenty of people hungry for this sort of thing. But there’s nothing like it at the moment, even though there’s a big need for it,” JoziHub-hired consultant Van der Walt said before the launch to South Africa’s Techcentral.
Now Jo’burg has its own technology pool up and running where like minded technology entrepreneurs and researchers share high speed Internet connections, resources, and grand ideas over a good cup of coffee.
JoziHub joins the likes of iHub in Kenya, IceAddis in Ethiopia, and Co-Creation Hub in Nigeria alongside over 25 other tech hubs across Africa and it will be surely these tech focused communities who will play a major role in developing globally competitive technology in Africa in the near future.
So if you are a technology entrepreneur or interested in tech development and you would like to link your passion up with Africa the various technology hubs on the continent may be a good starting point. You can have a closer look at what kind of Africa Hubs exist when you click on the link where you will find a digital map and details for each of the hubs (click on the map!).
Africa Business Tip:
So, here we go: Start a technology or a business hub. You can do it in a business park, the university campus, or you simply rent a space in a hip business area in the capital. If you need to cut start up cost you can even suggest cooperation with an already existing business like an Internet Cafe. But turn it into something unique, give it all an edge, be sure it’s a place people would want to come and meet….
Offer new courses that one can hardly find elsewhere in town, organize a variety of events – entrepreneurship, innovation, TEDx, or a series of meetups during weekends or in the evenings.
Make sure have clarity about your own interests, as it helps you to align the business concept of your hub with your own goals, so that you do not only create some revenue during the start up period, but you are above all building an enabling environment, a market place, for your own bigger ambitions.
This is how you can run a business and at the same time increase visibility and networking links for yourself that can easily lead to greater opportunities right at your doorstep…..literally!
This concept can also be applied to other sectors. It’s about smartly gathering the right people in the industry in your name….and then doing business with them.
Give it a thought and please feel free to ask your questions below in the comment section or add great tips!
Dr. Harnet Bokrezion is the co-author of the book 101 Ways to Make Money in Africa. She coaches individuals and consults existing companies assisting them to make smart and strategic business decisions in Africa’s new emerging markets. Dr. Harnet also regularly writes for the renowned DHL powered publication howwemadeitinafrica.com. Get in touch to inquire how she can be of assistance to your own Africa business endeavors: harnet@africajumpstart.com. Or simply follow her on Twitter @africajumpstart.com
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I love it! Connecting the future to the present with ideas and ideals from the source of the people. Connecting globally with like minds! Superior resources 24/7
Thank you Harnet for bringing this to us…. AfricaJumpstart is at the forefront of serious strategy and thought of developing sustainable and successful business development to the AFrican and the African Diaspora!