Save Your Startups: Using Policy to Kickstart the Post-Crisis Economy

Global economic crises often become extinction events for startups. The COVID-19 crisis has been no exception, and many startups across the globe remain perilously close to the edge of closing up shop. Young companies and founders remain on edge, knowing that things can change in their communities seemingly in an instant. Policymakers should be aware … Read moreSave Your Startups: Using Policy to Kickstart the Post-Crisis Economy

Building the ecosystem in Sierra Leone-seven design principles

Yes, the framework is incredibly important, and if you get that in place along with these seven design principles, then everything else will flow more easily. #1Put entrepreneurs front and centre #2 Foster conversations #3 Enlist collaborators (everyone is invited!) #4 Live the values #5 Connect people (in every direction) #6 Tell your community’s authentic … Read moreBuilding the ecosystem in Sierra Leone-seven design principles

It takes an ecosystem: How networks can boost Africa’s incubators

Also available in: Français
 

 Bond’Innov
Dynamic entrepreneurs supported by the North-South incubator Bond’Innov. Photo Credit: Bond’Innov


Across francophone Africa, incubators are emerging rapidly to support a new generation of young entrepreneurs. Despite their huge potential, however, incubators are just one of many players in a typical entrepreneurial ecosystem.  So it is increasingly important that incubators — in addition to allocating the necessary resources, services and funding to worthy start-ups — provide them with a platform to share and transfer knowledge across the ecosystem, not only with each other but also with the investors, research centers and industry experts upon which their businesses will ultimately depend.

As with Impact Hub Bamako, incubators can be part of broader international franchises, while others are anchored by academic, public or private bodies (or some hybrid of the three) and may already be associated with other incubators. Bond’innov, for example, is an incubator that promotes entrepreneurship cooperation between the global North and the South and that is headquartered in Paris and located on-campus with the Institute for Development Research, a large multidisciplinary research organization operating in more than 50 developing countries.

Lack of an Entrepreneurship Ecosystem in Sierra Leone

The question is why in 2017, we lack all the elements of an ecosystem that support entrepreneurship.
An entrepreneurship ecosystem “refers to the elements – individuals, organizations or institutions – outside the individual entrepreneur that are conducive to, or inhibitive of, the choice of a person to become an entrepreneur, or the probabilities of his or her success following launch. (wiki)
To answer this question, one needs to define two forms of entrepreneurship; rent seeking entrepreneurship and value creating entrepreneurship. In particular, rent seeking provides a good explanation as to why we lack a basic ecosystem that supports entrepreneurship in Sierra Leone.

Read moreLack of an Entrepreneurship Ecosystem in Sierra Leone