Tunisia, a rising star in Africa’s entrepreurial ecosystem

Published on
05 Maggio 2021

Tunisia ranked 5th for Cost Effectiveness in fDi’s Tech Ecosystems of the Future 2021/2022

Africa has been cited for a long time as one of the final frontiers for global growth and investment, but this does not always correspond to reality, as it often failed to reach these expectations. In fact, it has historically fighted to turn its great wealth of human and natural resources into sustainable development. 

Nevertheless, the golden continent has shown a great potential and a wonderful ecosystem for entrepreneurs and start-ups to grow and shine. Thanks to its admission to the African Tech Ecosystems of the Future rankings, fDi Intelligence has joined its force with the research company Briter Bridges to valorize the continent’s growing tech ecosystems and explore their outstanding potential to move to the next stage. The results provide a first look at the lively tech realities developing around Africa’s biggest cities, where talents are finally able to find a growing ecosystem of capital to integrate their ideas into a fruitful business. 

While venture capital, known as the VC ; is afraid to invest in Africa preferring big investment into the global investment ocean, the youngest countinent is starting to blossom new entrepreuneurship spirit among young generations. In fact, the African Development Bank reported that 22% of Africa’s working-age population is starting new businesses. This is the highest rate of entrepreneurship in the world, to the surprise of the VC!

This entrepreneurial spirit is driving a wave of tech start-ups across the continent, with South Africa and Kenya at the top of the list in fDi’s African Tech Ecosystems ranking. Moreover, the ranking highlights the most promising countries for tech start-ups across Africa in all industries and with good potential for Agtech and greenTech,  including Tunisia.

Tunisia ranked fith for Cost Effectiveness in fDi’s Tech Ecosystems of the Future 2021/2022 [1], and third for Human Capital and Lifestyle. The Cost Effectiveness category uses metrics such as average salary for skilled workers and office rents to showcase the continent’s most cost-effective countries; the Human Capital and Lifestyle category evaluates the level of country-wide tech talent — something that is crucial for any tech ecosystem.

The result achieved by Tunisia is the fruit of many years of commitment, especially after the Jasmin revolution; to empowering young people and investing in human capital. Work is going on to encourage youth and implement the entrepreuneurial spirit among the new generations, to allow them to choose their destiny. For those who choose to build their own business, a large ecosystem is trying to join forces to help them in their journey. These forces include many innovation support systems, as incubators, nurseries, accelerators, financial support systems, ministries, but also foreign countries that trust Tunisian youth, as Italy that has been supporting Tunisia’s efforts to build a better future from the outset. This is one of the goals of WaterMedyin project, which is designed to support and empower youth in Tunisia. This project is in fact funded by the Italian cooperation and implemented by CIHEAM Bari, leader in the Blue and Green economy [2].

Sources and references:

[1] https://www.fdiintelligence.com/article/79638

[2] https://www.watermedyin.net/watermedyin-project-field-activities-take-off/

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