Kenya is one of the most highly regarded startup countries in Africa, being ranked number one in East African and 62nd globally.
With this in mind, it should come as no surprise that there are some great Kenyan startups giving Kenya the makings of the silicon valley of Africa.
The country has already been introducing top startups leveraging on technology to the world and this trend is likely to continue well into the future.
One of the main reasons for this trend is the fact that they are getting increasing access to Venture Capital funding, which is the lifeblood of growth.
Despite the economic downturn in 2022 due to Covid 19 and depressed markets, Kenya beat the odds to increase their startup funding from the previous year raising $1.1 Billion, which is a 33% increase from the previous year.
The Kenyan government is also trying to be proactive in the startup ecosystem, highlighted by the launch of the DeveloPPP Ventures startup program which gives talented Kenyan entrepreneurs grants of 100,000 Euros to grow and expand their start ups.
Despite this positive trend, an increasing number of start ups are also collapsing despite generous funding. Here we investigate some of the reasons and also name some Kenyan startups that have failed recently
22 авг 2024
