This article presents a summary of the information contained in our presentation. The purpose of our presentation is to extract more information contained in the Startups Database to inspire the RDN community, entrepreneurs, governments, and key players to understand what is going on and take the opportunity in this movement to make Africa a better place.
From 2019-2022 over 2300+ big deals were funded across 12 sectors over 38 countries in Africa. African founders from 500+ universities worldwide are championing these 2300+ big deals with a value of $13,000M+.
Deals Distribution by Sector
Fintech is a big deal in Africa for 2019-2022. About 29.4% of 2300+ sales are addressing financial service challenges in Africa.
Deals Distribution by Country
Nigeria, Kenya, Egypt & South Africa created 72% of the total big deals from 2019-2022. That means 72%+ of the $13,000M+ received in these four countries will create robust economic growth, employment, and other positive economic multiplier effects. The four economic giants countries will maintain their positions.
Annual Growth in the number of Big deals
Africa Startups experienced a slow annual increase in the number of deals in 2022 compared to 2021 and 2020 regardless of the positive growth in the number of deals over the past four years.
Capital Distribution by Sector
Fintech is the Big receiver of the total funds raised by Africa Startups from 2019-2022. About 48% of $13,000M+ channeled to address financial service challenges in Africa.
Deals Distribution by Country
The Africa Big Deals are for the Big Four!
Nigeria, Kenya, Egypt & South Africa received 77% of the total fund raised from 2019-2022.
Annual Growth in the Amount of funds raised
Africa Startups experienced a slow annual increase in the amount of funds raised in 2022 compared to 2021 and 2020 regardless of the positive growth in the amount of funds raised in the past four years.
Type of Funds raised by African Startups
Venture round, seed, grant, and pre-seed contributed 79% of the total funds raised by Africa Startups.
About 52% of startups who raised $M raised for the first time. Most of 1st $M came from the Venture round, seed, grant, and pre-seed funding categories.
Who are the Founders of Africa Startups?
Founders of Africa Startups are African graduates from over 500 Universities around the world.
Founders University or School
The University of Cape Town produced many founders in the innovation ecosystem of Africa followed by the America University of Cairo & Paris, Stanford University, Obafemi Awolowo University, and the University of Oxford. Other universities in the top 20 are Harvard University, University of Lagos, Massachusetts Institute of Technology, University of Nairobi, Stellenbosch, Cairo University, Stellenbosch University/Universiteit Stellenbosch, University of California, Berkeley & Los Angeles, Columbia University in the City of New York, Federal University of Technology, Cornell University, Imperial College London and University of the Witwatersrand.
Founders Universities by Country
The Universities from the United States of America produced many founders in the innovation ecosystem of Africa followed by universities from the United Kingdom, Nigeria, South Africa, Egypt, and France. Other top 20 countries with the best Universities that produced many founders for Africa Startups include Kenya, Canada, Netherlands, Germany, Spain, Switzerland, India, Uganda, Tunisia, Latvia, Morocco, Belgium, and China.
Team Mix | Number of founders per startup.
About 47% of Africa Startups are founded by two founders, 27% by one founder, and 20% by three founders.
About 51% of Africa Startups are founded by a male-only founding team, 22.7% by a male single founder, 19.1% by a sex-diverse founding team, 5.3% by a male single founder, and 1.9% by a female-only founding team.
About 54.8% of founders graduated between 2011 - 2020 while 35.4% of founders graduated between 2001 - 2010.
Launch year of Africa Startups
Many startups launched between 2010 to 2020.
Graduation and Startups Launch
Many founders launched startups within 10 years after they graduated.
96% of exits are M&A funding category.