Franklyn Koroma- Udat Personal Security Device

What’s your start-up business 30second elevator pitch Sierra Innovation Labs is a private limited company committed to design and develop solution to problems and the manufacturing and production of affordable and user friendly products/services that will help solve community problems, laying more emphasis on the sustainable development goals. We have recently design and developmed the … Read moreFranklyn Koroma- Udat Personal Security Device

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.

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