Grassroots to Global: How the Global Startup Awards Africa Is Promoting and Enabling Innovation Across Startup Nations with Jo Griffiths

[00:00:00] You're listening to the Unlocking Africa Podcast.

[00:00:03] The work that I do in Gig is about discovering technologies and solutions that have the potential to change the world.

[00:00:10] So my journey, my experience, the proof points that we've seen, you know, it's really shaped our vision of what is an interconnected African innovation ecosystem.

[00:00:20] Just taking Ethiopia as an example, being able to support them in their quest to be a startup nation, we saw a 400% increase in their interest.

[00:00:29] The Gig Foundation, we are there purely to support that startup journey.

[00:00:33] So it's crucial to emphasize Africa's role as a driver of innovation and not just a beneficiary of it.

[00:00:40] Stay tuned as we bring you inspiring people who are unlocking Africa's economic potential.

[00:00:47] You're listening to the Unlocking Africa Podcast with your host, Terser Adamu.

[00:00:54] Welcome to the Unlocking Africa Podcast, where we find amazing people who are doing amazing things to unlock Africa's economic potential.

[00:01:05] Today, we have Joe Griffiths, who is co-founder of Global Innovation Initiative Group, which find, fund and grow globally relevant innovation in Africa.

[00:01:16] And also co-founder and CEO of the Global Startup Awards Africa, the largest independent international startup awards platform, which has recently launched in Africa.

[00:01:30] So welcome, welcome, welcome to the podcast, Joe. How are you?

[00:01:34] I'm great. Thank you. Thank you very much for having me.

[00:01:36] I know you've recently come back from Turkey from the grand finale of the Global Startup Awards.

[00:01:43] How was that for you?

[00:01:44] You know, it was an amazing experience to be in amongst global innovators.

[00:01:51] The Global Startup Awards represents over 123 countries.

[00:01:56] And I'm very proud that during the awards ceremony, out of the 12 awards, Africa actually was awarded four awards.

[00:02:05] So I'm feeling very proud about that.

[00:02:07] That's a huge achievement and well done to you and your team.

[00:02:11] Thank you.

[00:02:12] And also the startups.

[00:02:15] Absolutely. It's all about them. It's all about them.

[00:02:18] Yes, definitely.

[00:02:19] So before we get into our conversation, which I'm looking forward to, I was hoping you could introduce yourself and tell us a bit more about Joe Griffiths.

[00:02:28] Yeah, sure.

[00:02:29] I guess I've got quite a journey that's behind me.

[00:02:33] Look, I am an entrepreneur.

[00:02:35] I'm an investor.

[00:02:36] I'm a collaborator.

[00:02:37] And I'm someone who's deeply passionate about finding and funding innovation that really can make a difference with a particular focus on Africa.

[00:02:47] I mean, the work that I do in gig is really about discovering technologies and solutions that have the potential really to change the world.

[00:02:56] And then how do we help them grow?

[00:02:58] I started my career, though, back in the dot-com era, actually in the UK.

[00:03:03] Oh, wow.

[00:03:04] Yeah, back in the day.

[00:03:06] Showing my age there.

[00:03:08] Working with entrepreneurs to build really fast-growing businesses.

[00:03:12] And I guess that's where my love for innovation began, thinking doing things new.

[00:03:18] I went through various stages of my career in London, the first digital agency, the first digital campaigns, the first social media agency.

[00:03:25] So I guess being a pioneer has always been part of my makeup.

[00:03:31] And now I've been in Africa for just over a decade and really with a focus on projects that align with the UN sustainability goals, especially within technology and social impact.

[00:03:44] And I guess that really comes from a very common theme that we all live on planet Earth.

[00:03:51] And I totally believe we all have a responsibility to protect it.

[00:03:55] I mean, at the conference recently, people were saying, where are you from?

[00:03:59] And some people answered with that question, I'm from planet Earth.

[00:04:03] And I guess that's actually a brilliant answer because it puts us all on the same page.

[00:04:09] So ultimately, for me, Joe, my mission, I have a mission.

[00:04:13] And that really is to help attract global contributors and show the world the incredible opportunities Africa has to offer, especially when it comes to driving sustainable economic growth through innovation.

[00:04:26] You know, I've always believed in the power of collaboration.

[00:04:30] And I'm just really excited to be part of shaping Africa's future and just making that very small dent in the universe.

[00:04:37] Brilliant.

[00:04:38] As you mentioned, you've had quite a journey starting from the dot-com era.

[00:04:43] You have a passion for innovation.

[00:04:46] So if you look at our passion for innovation, what inspired you to focus on innovation specifically in Africa?

[00:04:55] Look, I think realistically, we all know that Africa's potential is absolutely immense.

[00:05:02] And that coupled with the fact that I am fortunate to call it home for me and my family and for their generations to come.

[00:05:09] That's what inspired me.

[00:05:11] I live here.

[00:05:12] My family's from Africa.

[00:05:14] Other parts of my family grew up in Africa.

[00:05:16] I have a strong affiliation.

[00:05:18] But just in terms of, you know, practically speaking, it's youthful population.

[00:05:23] It's growing tech adoption.

[00:05:25] And the real unique challenges that the continent faces presents opportunities for innovation.

[00:05:33] Yeah, I mean, my inspiration, my aim is really to highlight those African solutions for African problems,

[00:05:39] but create a platform that connects innovators with the resources and networks they need to scale globally.

[00:05:46] So using my global network to the benefit of African entrepreneurs, I'm really sort of helping to stimulate investor confidence into Africa by telling the stories, giving visibility to the entrepreneurs.

[00:05:56] How would you say your journey so far has shaped your vision and mission for the continent's future, specifically when it comes to startups?

[00:06:08] Yeah, there's no getting around it.

[00:06:10] The journey isn't an easy one.

[00:06:11] But the journey has really been reinforced that the belief that, you know, Africa is on the cusp of an innovation driven transformation.

[00:06:20] And if we can help by supporting the startups and helping facilitate cross-border collaboration for them, you know, we're witnessing how local solutions really do have a global impact and an export opportunity for these solutions.

[00:06:34] So my journey, my experience, the proof points that we've seen, you know, it's really shaped our vision of what is an interconnected African innovation ecosystem that is absolutely 100% totally capable of leading global conversations in tech and entrepreneurship.

[00:06:50] It's not just participating, but really it's about leading.

[00:06:53] And, you know, Africa is the tech continent of the future.

[00:06:57] We have that belief, but it just requires consistent collaboration from multiple stakeholders.

[00:07:04] So that's where the journey starts and continues.

[00:07:07] I agree.

[00:07:08] So I guess part of that journey is founding the Global Startup Awards Africa.

[00:07:13] So what would you say specifically was the motivation behind founding the awards, specifically the Africa chapter?

[00:07:22] Yeah, sure.

[00:07:23] I mean, there was a small pilot project that ran in Southern Africa and we played a role in that by putting our startups forward, by putting clients forward.

[00:07:33] And we realized that there was not the representation of Africa.

[00:07:37] So the motivation really, really stemmed from that.

[00:07:40] Seeing that there was not fair representation from the African continent and that need to bridge the gap between African innovators and global connections.

[00:07:49] You know, we see thousands and thousands and thousands of solutions that sit here on the continent.

[00:07:55] And, you know, if we're going to look at big, big global challenges like climate change, it's not going to take one or two solutions.

[00:08:02] It's going to take thousands of them.

[00:08:04] And a lot of them sit here.

[00:08:05] So that was a key driver in terms of how do we lobby and say, we want to open up this awards for the whole of the African continent so that it becomes a convening platform for startups or for the entire value chain, really.

[00:08:21] And to have, I guess, a common language for everybody to be able to connect with, with the ultimate, ultimate goal of giving startups visibility.

[00:08:30] Giving African entrepreneurs the visibility that they need to be able to get seen, get connected and get funded.

[00:08:37] So I'm assuming a lot has probably changed since you initially founded the awards.

[00:08:44] So what would you say has been some of the key changes or evolution that you've seen since its inception?

[00:08:53] It's been interesting.

[00:08:55] So the first year we obviously ran the competition.

[00:08:58] We ran with a network of about 300 partners.

[00:09:03] Partners being ambassadors, partners being innovation.

[00:09:07] Innovation hubs, what we call country partners, local partners that are helping us to scout.

[00:09:12] Because the reality is that the awards program isn't always on scouting tool.

[00:09:16] We're always looking for talent and solutions at a local level.

[00:09:23] So we work with a network of about 300 people to do that.

[00:09:27] The first year we thought, well, you know, how many entries are we going to be dealing with?

[00:09:31] So the first year we had 7,000.

[00:09:34] The second year we had 8,000.

[00:09:37] The last year we had almost 12,000 entries.

[00:09:39] Wow.

[00:09:39] So in our pipeline, it has grown so significantly.

[00:09:44] You know, we've now got 27,000 plus startups in our pipeline of solutions that are aligned to the sustainable development goals.

[00:09:54] And in terms of how we have evolved the program is that we have been more selective and very intentional in terms of the data that we collect from the entries.

[00:10:06] So that we can start seeing early emerging trends that are happening across different regions.

[00:10:11] So that we can understand the different sectors that are coming through.

[00:10:17] So that we can understand what stage they are for investment purposes.

[00:10:22] So that's how we've really kind of started evolving.

[00:10:27] You know, there's been certain sectors that have increased.

[00:10:31] We've seen a huge increase in the climate tech, like 300% increase in climate tech.

[00:10:36] And we've been very intentional over the last three years to have a focus with a gender lens focus and more specifically this year on youth entrepreneurship.

[00:10:46] And this year we had 23% of all our entries represented women or youth.

[00:10:52] So we've been very intentional about driving and building that through the program.

[00:10:58] You mentioned that you have, is it 300 partners that contribute to the success of the awards.

[00:11:05] So if you look at success, how do you, I guess, internally define success for the awards?

[00:11:12] Success for me is really defined by, I suppose, the ability of startups to scale and become sustainable businesses that in turn create jobs and solve local challenges.

[00:11:24] But, I mean, for us, it's really about how we can create lasting partnerships, how we can foster collaborations that are really going to help us attract global investors who are committed to Africa's growth.

[00:11:37] I mean, we can be as successful or as big a program as we possibly can be.

[00:11:42] But that is all dependent on how we can raise funding for the fund to make sure that the startups get funded and to make sure that we have a sustainable program that can help the growth path of these startups.

[00:11:56] You know, we fund and find the top 1%, but what about the 99%?

[00:12:01] And that's the key focus of us in our foundation to be able to help with that.

[00:12:06] Brilliant.

[00:12:06] As you noted earlier, you said you have around 27,000 startups in your database, which they enable you to collect some very insightful and meaningful data.

[00:12:17] So from all this experience and the data you've gathered, what sectors are you seeing the most growth and innovation across the continent?

[00:12:27] So generally speaking, and I think because we have been intentional, like I said, with the gender lens, we're seeing more youth startups coming through.

[00:12:36] You know, 23% of those entries were either women or youth.

[00:12:40] Climate tech, absolutely.

[00:12:42] The 300% growth in climate tech is not surprising for us.

[00:12:45] And solutions in climates, anything from clean energy all the way through to a lot of plastic solutions, solving those big critical problems.

[00:12:54] But we've also seen this year quite a big growth in mobility and logistics.

[00:12:59] So that really does mirror the sort of the infrastructure transformation that we're seeing across the continent as a result of the Africa continental free trade area as well.

[00:13:08] So they're the two players that are coming through very strongly on a pan-African basis.

[00:13:13] Obviously, fintech has always been a clear leader in Africa.

[00:13:18] But now we're seeing very much green climate tech, blue tech coming through very strongly.

[00:13:23] Brilliant. So I guess if we move from sectors to markets, we do know historically the African startup spaces dominated by the big four, Nigeria, Kenya, South Africa and Egypt.

[00:13:38] Are you seeing any change in this?

[00:13:40] Are you seeing increased participation from other African markets?

[00:13:44] Absolutely. I mean, we have always for the last three years been consistent in getting entries from all 54 countries.

[00:13:53] Depending on the shifts that we've suddenly seen, it depends on the hubs and how they're growing, the enabling environments that are happening, the policies that are being put into place.

[00:14:04] But, you know, just taking Ethiopia as an example, they were our host nation last year and being able to support them in their quest to be a startup nation, we saw a 400% increase in their entries.

[00:14:17] You know, in East Africa this year, our regional winners, we have five Ethiopian regional winners.

[00:14:23] So we can see the impact that the competition has by being partners and having collaborations actually physically in country.

[00:14:34] But we're also seeing, you know, quite interesting things across the regions.

[00:14:39] So if I was to sort of talk to you about the central Africa region, we're seeing, we saw more and more entries from Chad and Gabon, whereas historically Cameroon and the DRC have been the primary contributors.

[00:14:54] And we're seeing from those regions, more green tech categories, growing and environmental sustainability and renewable energy.

[00:15:04] They're the key things from a central region.

[00:15:07] And central Africa, we saw it was a 68% increase in the title entries from last year.

[00:15:13] So central has grown significantly in terms of what we're doing.

[00:15:18] Eastern Africa has always been our leader in startups.

[00:15:25] It's always been our biggest one.

[00:15:27] The key thing there being agriculture, so agritech.

[00:15:30] And if we look at that in terms of Eastern and we look at breaking down the agritech, it's climate change mitigation solutions, renewable energy, resource optimization, sustainable agriculture and food systems, and that waste management and recycling.

[00:15:48] So that's kind of what's coming very loud and clear from the Eastern region.

[00:15:53] And they are typically one of our leading region with the most entries.

[00:15:59] And then, you know, if I go to Northern Africa, we're seeing that 33% of all the local entrepreneurs in the fintech sector are just focusing on investment and trading solutions.

[00:16:12] We're seeing a different shift there in terms of the amount of startups that are coming through.

[00:16:19] Egypt is always a very, very strong player.

[00:16:22] But we're seeing startups coming through at Series A and Series B level.

[00:16:27] So, yeah, Northern is always a very, very strong contender for us and has very, very strong startups as well.

[00:16:36] So, we've seen, I think it was a 98% year-on-year increase in the entries from the Northern regions.

[00:16:45] Brilliant.

[00:16:46] Southern Africa, yeah, Southern Africa is still on the increase.

[00:16:52] Where what we saw mostly in the Southern region this year is a 42% increase in mobility and logistics.

[00:17:00] So, transportation innovations were probably the largest trend that we saw.

[00:17:07] South Africa doubled their entries.

[00:17:10] Also, Angola, we saw achieved really significant increase of like, I think it was about 140% in the entries from 2023 to 2024.

[00:17:19] So, that's definitely an expanding innovation ecosystem.

[00:17:25] And then Western Africa, we saw a 73% increase in entries this year.

[00:17:30] So, that's continually, continually booming.

[00:17:34] But one of the biggest areas we saw there, whilst Ghana and Nigeria obviously dominate, Burkina Faso, Liberia and Senegal.

[00:17:44] They pretty much doubled their entries this year.

[00:17:47] So, they're the ones to watch.

[00:17:50] Amazing.

[00:17:52] Thank you for that, Jo.

[00:17:53] I guess with the increased applications coming from a range of markets and regions, would you say that startups in specific or certain regions share similar traits or characteristics with regards to how they operate?

[00:18:09] Yeah.

[00:18:10] Yeah.

[00:18:10] I mean, look, I have worked predominantly in Ethiopia this past year, obviously working in the South African market as well.

[00:18:18] I think, you know, I think there's quite a generalization but an unreal on the ground feeling that, you know, African entrepreneurs are, they're highly resilient.

[00:18:27] They're really resourceful.

[00:18:29] They're accustomed to overcoming challenges, whether that's limited access to capital, whether it's infrastructure.

[00:18:35] All of that really makes them more adaptable and solution-oriented.

[00:18:40] You know, they've got real grit, passion.

[00:18:43] You know, there's no stronger motivation than necessity, right?

[00:18:46] Yes.

[00:18:47] And I think, you know, in terms of a sense of community and collaboration and the need to be impact-driven, you know, there's a big sense of gratitude and pride, you know, and they want to learn.

[00:19:00] You know, they're open to collaboration.

[00:19:02] They're open to opportunities.

[00:19:04] So, that's what I see, especially compared to maybe some of our global counterparts who have a lot of opportunities in front of them.

[00:19:13] I agree.

[00:19:15] So, you've kind of touched on some key points there in terms of resilience and drive of African entrepreneurs to enable them to be successful.

[00:19:23] And I guess part of being successful as well is the ability to collaborate or work in partnership with others.

[00:19:30] And I know you're a big believer in terms of cross-border collaborations to drive innovations.

[00:19:37] I was wondering what have been some of the challenges that you've encountered trying to promote the ability for startups to collaborate cross-border?

[00:19:49] I think it's really simple.

[00:19:51] You have to be able to put people in a room together.

[00:19:54] It really is essential for helping scale innovations across Africa.

[00:19:59] I mean, you know, you can facilitate knowledge sharing, you know, market access.

[00:20:04] We need to attract international partners, you know, but it's really, really is, there really are logistical barriers to that.

[00:20:12] So, very, very simply put, I mean, when we're convening startups, there's always visa issues.

[00:20:19] You know, the two of our startups couldn't make it to Turkey because they didn't get their visas in time.

[00:20:23] There was a delay in processing.

[00:20:26] When we were in Ethiopia last year, we had 11 winners, which were excluded from the summit because of geopolitical situation.

[00:20:33] Didn't allow them to enter the country.

[00:20:35] So, there's always barriers.

[00:20:37] But if we're talking really about cross-border collaboration, it's about bringing startups together from different markets.

[00:20:44] What you generally see is that you have an event in Ethiopia, it's full of Ethiopians.

[00:20:48] You have an event in Kenya, it's full of Kenyans.

[00:20:51] We've got our event happening now in Cape Town.

[00:20:54] And, you know, we want to mobilize as many startups as we can to come.

[00:20:58] We've got 69 winners from 23 countries.

[00:21:01] That's a big budget required to do that.

[00:21:04] And that's difficult.

[00:21:06] That becomes a real barrier.

[00:21:08] Yes.

[00:21:09] Which we hope to solve.

[00:21:12] So, how do we go about solving that?

[00:21:14] That's about finding the right partners.

[00:21:16] It's about having a consistent group of collaborators, a consistent group of donors, of funders that want to walk this journey, that believe in this.

[00:21:27] So, and want to be exposed to different African solutions.

[00:21:31] So, it's tricky.

[00:21:34] So, we've touched on, I guess, the visa and geopolitical issues that sometimes inhibit the ability to collaborate cross-border, which, I guess, governments have a role or the ability to help resolve.

[00:21:48] So, if we look at that, what role do you believe governments can play in supporting the startup ecosystem so that startups can thrive on the continent with as minimal friction or challenges as possible?

[00:22:04] Look, I think this is a very long road and long journey and differs from market to market.

[00:22:11] Governments obviously play an absolute critical role in creating the most conducive environments for startups they can through policy frameworks, through infrastructure developments, through funding support.

[00:22:22] But you know different markets are at a different maturity level when it comes to startup apps.

[00:22:28] We saw in Ethiopia that the government were very, very willing to create enabling environments and they went through a process of enforcing different new reforms to help create these environments.

[00:22:44] But actually working with them and implementing them and educating people is another point on that.

[00:22:50] But I think strengthening this support really requires the governments to work closely with the private sector and the startups to really develop tailored policies that address specific local needs.

[00:23:04] Otherwise, the barriers will always be there.

[00:23:07] How can it be strengthened?

[00:23:08] I think rather we should look at it in terms of how can this be accelerated?

[00:23:13] And I think there's plenty of opportunities there, learning from other countries, bringing the leaders together, collaborating with startup acts that have recently worked in other markets.

[00:23:23] And then how do you roll that out?

[00:23:25] People know about the startup act.

[00:23:27] How do they then implement it?

[00:23:28] How do they reinforce it?

[00:23:29] How can they benefit from it?

[00:23:31] And I think that's a role that everybody needs to play.

[00:23:34] Innovation hubs, government agencies, everybody needs to come to the party on that.

[00:23:38] But people must learn from each other.

[00:23:40] There's no point reinventing the same wheels.

[00:23:42] Different challenges in different countries, absolutely.

[00:23:45] But different ways of tackling that through government relations is something that people should work together on and collaborate.

[00:23:52] I agree.

[00:23:53] As you touched on, different markets have different requirements and challenges.

[00:23:56] So I was wondering specifically with the work that you've done, how have you gone about navigating those different regulatory environments across different regions on the continent?

[00:24:07] Yeah, it's been, it has been a challenge.

[00:24:11] What I believe it is about is about having the right people in places.

[00:24:17] It's about having local champions in each region.

[00:24:20] It's about having the right people to help you open the right doors.

[00:24:25] And that's the only way you can really progress.

[00:24:29] So, you know, when I think about it, everything we do is about people, the people we work with to make things happen.

[00:24:36] Without that, you know, if you send an email, if you do things, it's never going to work.

[00:24:42] Navigating regulatory environments requires a really deep understanding of local laws, local issues, building strong relationships with government bodies.

[00:24:51] You know, our champions really help us to connect and guide us through these situations.

[00:24:58] Yeah, collaboration with local partners has also helped us sort of lessen that process, make it a little bit more smooth.

[00:25:04] But it does remain a very complex challenge.

[00:25:08] And the work we do to overcome this is through really just through consistent dialogue, strong partnerships, working with champions and helping guide us through the processes.

[00:25:19] That's the only way you can do it.

[00:25:20] I like that.

[00:25:22] You know, local champions in the right regions, in the right places, people at different levels.

[00:25:28] So if we look at some of the work that you do when it comes to the grassroots levels in terms of your grassroots level initiatives,

[00:25:37] how would you believe they contribute to nurturing the next generation or the next group of innovators on the continent?

[00:25:46] Yeah, I think when we talk about this level, you know, we have to look at very clear initiatives to be able to create enabling and nurturing environments for innovation.

[00:26:00] We're just about to launch a new AI tool, which is helping startups from ideation stage all the way through.

[00:26:10] And it helps them build from concept to validation.

[00:26:13] It helps them build a lean canvas.

[00:26:16] It helps them build their brand, their storytelling positioning.

[00:26:19] It helps them with validation, customer surveys, market and regulatory reports.

[00:26:23] It's helping them at a level to be able to accelerate their startup journey.

[00:26:29] So we look for different tools to be able to do this at scale.

[00:26:35] It's very easy to be able to work with small groups of startups.

[00:26:38] But like I said, we need to focus on the 99%, not just the 1%.

[00:26:43] So how do we help those startups be on a level playing field to be able to tell their own brand story so that they can be visible?

[00:26:53] So I think that's one of the core things that we are going to be introducing very soon at that level.

[00:27:01] And, you know, the Gig Foundation, we are there purely to support that startup journey.

[00:27:07] The other part of it, you know, we've clearly identified that visibility is a core element to the success of a startup.

[00:27:15] So through our foundation, we have a campaign which is to give visibility to a thousand startups.

[00:27:21] So you can donate into the foundation.

[00:27:24] It gives the startup visibility toolkits.

[00:27:26] It gives them what they need, a pitch deck, a video.

[00:27:30] And most importantly, like an access to an international conference.

[00:27:33] I mean, I sit there in conferences.

[00:27:36] We go to these events and it is inaccessible.

[00:27:40] It is inaccessible for African innovators to be able to travel and do that.

[00:27:45] I mean, my trip to Turkey was the same cost as what it would be for a family of four in Kenya to survive for two months.

[00:27:54] I mean, it's not – it's a real barrier to entry there.

[00:27:57] So we want to be able to facilitate that at that level to be able to give as many startups the visibility that they need.

[00:28:07] And I think that is – that's a real problem we're trying to solve at that level.

[00:28:13] You know, what African startups can go to Slash?

[00:28:16] Tech Barbecue, Viva Tech, you know, get to GSA Summits.

[00:28:18] You know, that's where they're going to meet the right connections.

[00:28:22] But how do they get there?

[00:28:23] How do we mobilize startups?

[00:28:26] So that's what we're doing.

[00:28:28] We're mobilizing African entrepreneurs and connecting them to who they need to be connected to.

[00:28:33] Global investors, partners, stakeholders, so that we can continuously nurture these early stage startups by providing all of these tools, resources, access to resources and help build a network.

[00:28:48] Obviously, the GSA platform amplifies all these efforts by connecting grassroots innovators with a larger ecosystem.

[00:28:54] So that's what the platform is there for.

[00:28:56] Brilliant. I guess we can look at it alternatively.

[00:29:00] How can we bring those connections, those networks or investors to the startups?

[00:29:05] I know that's something that you're quite keen on.

[00:29:08] Yeah. In Africa, I mean, look, we want investment and social impact.

[00:29:12] They're just totally and deeply intertwined.

[00:29:15] So whilst investors are increasingly wanting to seek support from startups,

[00:29:20] they not only offer financial returns, but they also want to address those pressing social and economic challenges.

[00:29:26] But, you know, impact investing is gaining traction with a focus on specific sectors like healthcare, education, agriculture,

[00:29:36] things where innovation can improve lives.

[00:29:39] And our fund, the Gig African Fund, is very much an impact fund.

[00:29:43] You know, we've invested in six startups to date, but we could invest in hundreds of these every season.

[00:29:49] And so we're in the process of looking to increase our fund size to at least 10 million over the next 12 months.

[00:29:55] You know, we have a big vision to unlock impact capital at scale so that we can catalyze social environmental change across the continent.

[00:30:03] I mean, simply put, it's it really is it's a proactive and huge opportunity for people to contribute to the implementation of the sustainable development goals

[00:30:12] and the African Union's agenda 2063.

[00:30:15] But, you know, that's where we need to we need to play in that space.

[00:30:20] How do we get investors to see the African stories?

[00:30:24] How do we do that?

[00:30:25] We have to first give visibility to the startups.

[00:30:29] So it's a big challenge.

[00:30:31] There's a lot of investors that you hear all the time that are looking for projects.

[00:30:35] We have the projects.

[00:30:36] We need to give them visibility.

[00:30:38] We need to give them space and airtime to be able to showcase.

[00:30:41] Through Gig, as you mentioned, you've invested in six startups so far.

[00:30:46] So what specific strategies have you used to attract global investors, your LPs, to invest in African startups?

[00:30:56] It is a challenge, but we have been successful with family office and first time investors into Africa because our fund is slightly different in the sense that you invest in a pool of startups.

[00:31:10] So you invest in the pool, the winner's pool.

[00:31:12] So you will have a health tech startup, an agri tech startup.

[00:31:15] So it's across different sectors.

[00:31:17] So for first time investors into Africa, it's a soft landing.

[00:31:22] They're startups that have been verified through a very rigorous process through jury panels and investment committees.

[00:31:30] But we make the most of opportunities attached to the Global Startup Awards.

[00:31:35] So, for example, when we have the Global Awards Summit in Copenhagen, we will make sure that we have an African session, an African meetup to start the education process to investors of why they should be investing in Africa.

[00:31:51] So I think from that perspective, we've been successful in really trying to build investor confidence by giving startups the visibility, by creating case studies, by creating success stories, by putting startups in front of the right people in the right places.

[00:32:13] And that's what we want to do more and more of.

[00:32:15] And that comes back to the mobilization of getting startups to different places.

[00:32:21] You know, when I think of the conference that's happening in London next week, we should be bringing African startups there.

[00:32:28] I should be taking a delegation of at least 50 startups there.

[00:32:31] And the only barrier to that is really funding.

[00:32:35] I agree.

[00:32:36] I agree.

[00:32:37] So you touched on a key point there, which is about the education process for investors.

[00:32:42] So with the education comes a change of perception.

[00:32:47] So what do you believe needs to change in the global perception of, I guess, African innovation and entrepreneurship to make it more investable?

[00:32:57] Big question.

[00:32:59] I think the narrative around African innovation needs to really shift from one of necessity and survival to one of opportunity and leadership.

[00:33:13] How do we do that?

[00:33:14] We work a lot with the media to try and help with the storytelling.

[00:33:20] It's not easy.

[00:33:21] But, for example, we have managed to work with CNN, for example, to capture African success stories.

[00:33:30] We need the media to come to the table on this.

[00:33:33] We need them to be able to see the success rather than that necessity and survival mode.

[00:33:38] You know, African entrepreneurs are really developing solutions that are globally relevant.

[00:33:44] So it's crucial to emphasize Africa's role as a driver of innovation and not just a beneficiary of it.

[00:33:51] But that takes a lot of parties and a lot of stakeholders to make that happen.

[00:33:55] But step by step, if we're creating the success stories, we're telling the stories and we're giving the visibility, then that is one, two, three steps in the right direction.

[00:34:05] Fantastic. I like the idea of changing the narrative to one of opportunity and leadership and also working with the media to capture success stories and new trends.

[00:34:17] I know you slightly touched on this at the beginning.

[00:34:20] So are there any emerging trends that you're currently seeing within the African startup space that you're excited about?

[00:34:29] I'm always excited about the rise of climate tech and green tech.

[00:34:36] It's not just for the continent's future.

[00:34:40] It's for all of our futures.

[00:34:42] So I think that for me is always the – I'm always drawn to new solutions that are really addressing those issues.

[00:34:51] I'm passionate about blue technology, saving the oceans, about plastic, and we see thousands and thousands of those solutions.

[00:34:59] You know, if some of those just had a very, very small amount of investment, we would be able to shift the dial on that.

[00:35:08] And that's where I guess is the frustration in terms of the solutions are out there and they need to be properly funded.

[00:35:18] And it doesn't always have to be – take too much in terms of funding.

[00:35:23] So I guess that's what excites me.

[00:35:26] There's also a massive growing interest, obviously, in AI machine learning solutions, which are tailored to African context.

[00:35:33] And that really holds great promise for various sectors.

[00:35:37] I mean, I guess agri-tech and healthcare being the two that we're seeing those trends really coming through.

[00:35:44] If we move from current trends and look at the future, how do you see the future of innovation in Africa over the next five years?

[00:35:53] You know, what role will startups play in driving that innovation?

[00:35:58] Yeah, I'm excited about the next five years.

[00:36:01] I'm excited about the role that they will play.

[00:36:04] I think, you know, startups will drive economic growth by purely creating jobs.

[00:36:10] I mean, job creation, fostering sustainable solutions and solving social challenges.

[00:36:17] And as the ecosystems mature, we'll see more collaborations between African countries and stronger, stronger investor confidence and hopefully increased global recognition of African innovations.

[00:36:28] That's the key thing that we need to do.

[00:36:30] Fantastic. So if we look closer to home, what's next for you and the Global Startups Awards Africa?

[00:36:38] Are there any upcoming projects, new regions?

[00:36:42] What are you planning for the next five years?

[00:36:45] There's always plans here.

[00:36:47] There's always projects happening with the Global Startup Awards.

[00:36:51] We have very, very big vision over the next five to 10 years to grow regions globally as well.

[00:36:57] And I will be part of that growth strategy in terms of the global awards.

[00:37:03] For Africa, we're already in every market.

[00:37:07] So it's about strengthening those relationships, working with nations and finding host nations that really need to be able to,

[00:37:17] that need a platform like the Global Startup Awards to be able to grow and accelerate significantly,

[00:37:23] like we've seen in Ethiopia.

[00:37:25] So in November, just around the corner, we're going to be announcing this year's African winners.

[00:37:32] That's going to be happening in Cape Town.

[00:37:34] And like I said, we want to mobilize as many African startups as we possibly can out of the 69 regional winners from 23 different African countries.

[00:37:44] You know, we'd love to host all of them in Cape Town to be able to connect them to global investors and to stakeholders that we can be able to sort of see that shift,

[00:37:58] even if we just bring the winners.

[00:37:59] But that's a big task we have for November.

[00:38:03] But it's an exciting one as we announce the winners that will then compete on the global stage.

[00:38:10] So that's our immediate need.

[00:38:12] And then we're also exploring lots of partnerships with international organizations so that we can bring more resources to African startups.

[00:38:21] So we're always looking to collaborate to build this as a real sustainable platform to accelerate ecosystems.

[00:38:28] So we're looking to secure our host nation for 2025.

[00:38:33] We have quite a few countries in the running, but we want to work with the country to support and help build an enabling environment

[00:38:42] so that innovation can diversify their current local economies.

[00:38:47] So that's an interesting one.

[00:38:49] Hopefully we'll be able to announce that in January, February time.

[00:38:53] And we're working with different countries at the moment to see where we can add the most value.

[00:38:59] I think that's really important.

[00:39:01] Yeah.

[00:39:02] Quote of the week.

[00:39:03] As people, we often have quotes, mantras, proverbs or affirmations that keep us going when times are challenging or when times are good.

[00:39:10] Do you have one that you can share with us today?

[00:39:14] I share a lot with the startups in terms of this.

[00:39:19] I think that there's three things for me.

[00:39:21] One is think big.

[00:39:23] Always be bold with your vision and then you'll be confident with your ask.

[00:39:28] So think big is the first one.

[00:39:30] Build simple.

[00:39:32] We can all get stuck in analysis paralysis.

[00:39:35] We need to build simple.

[00:39:38] And that leads to the third part is do it now.

[00:39:42] You know, act now.

[00:39:44] Just do it.

[00:39:46] You know, whether you're producing a concept note, whether you're producing a proposal, you can always send it in draft format.

[00:39:53] Send it.

[00:39:54] Send it.

[00:39:55] Send it.

[00:39:55] It's about doing stuff now.

[00:39:59] And they're the three things.

[00:40:01] So think big.

[00:40:02] Build simple.

[00:40:03] Do it now.

[00:40:04] That's my mantra.

[00:40:06] I like it.

[00:40:07] Very precise, practical and also full of wisdom.

[00:40:12] Yes.

[00:40:13] Yeah.

[00:40:14] I like it, Jo.

[00:40:15] Brilliant.

[00:40:15] Brilliant.

[00:40:16] So we've come to the end of today's conversation, which has been a great one.

[00:40:20] Before we leave, I was wondering if you had any closing remarks, final cause to action for people who are interested in the work that you're doing.

[00:40:29] Yeah, I guess I do.

[00:40:32] I mean, I would love to be able to reach out and connect with potential collaborators.

[00:40:37] I mean, Africa is rising.

[00:40:39] And the time to invest in its future is now.

[00:40:42] I mean, that's the key message.

[00:40:43] So whether you're an entrepreneur, come and be part of our community.

[00:40:48] If you're an investor, let's discuss participation in our impact fund or our foundation.

[00:40:53] You know, if you're a corporate that can support programs to accelerate an African innovation narrative, there is a role for you to play in shaping the future of innovation on the continent.

[00:41:02] So there's always a way that we can collaborate.

[00:41:05] You know, it's think big, keep it simple, but let's do it now.

[00:41:09] Let's work together.

[00:41:11] Let's build a thriving interconnected ecosystem that can benefit everyone.

[00:41:15] I like the sound of that.

[00:41:17] Thank you for joining us today on the podcast.

[00:41:19] It's been great to hear about the incredible journey and the work you've done so far and the work you have planned for the future and what you're doing to drive innovation and entrepreneurship across the continent.

[00:41:30] So, Jo, thank you for giving us your time today and sharing your insights, knowledge, experience with us all.

[00:41:38] It's been an absolute pleasure.

[00:41:39] Thank you very much.

[00:41:40] It's been a total pleasure.

[00:41:42] Thank you to everyone who has listened and stay tuned to the podcast.

[00:41:46] If you've enjoyed this episode, please subscribe, share or tell a friend about it.

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[00:41:57] Thank you and see you next week for the Unlocking Africa podcast.