Locations
News
Meet the Toshikas-Staggering field trips to dive into startup ecosystems
As the selection process of the UNDP “Meet the Toshikas” initiative continues, from a record 256 applicants, 30 startups – 10 from each country - Zambia, South Africa, and Angola have made it past the online interview round and have undergone a thorough BootCamp training aimed at enhancing business operations and strategies, and building an investment-ready mindset (For more information about the bootcamp, please click here). Guided by the Ecosystem Development Approach (EDA) framework, which aims to co-create and co-own development solutions in a more inclusive and sustainable manner and in a groundbreaking initiative to bolster the startup ecosystem, a dynamic team embarked on an extensive field trip, spanning the three countries and engaging with a diverse array of stakeholders. This ambitious endeavour aimed to gather insights and foster connections that would ultimately strengthen the entrepreneurial landscape. Not missing in action were Japanese investors(Verod-Kepple Africa Partners, Samurai Incubate Africa,TSI Japan) who participated in document screening and site visits to improve the establishment of business matching by including Japanese investors' perspectives in the startup selection process.
Field Trip:
From April 8th to April 12th, the field trip and the ecosystem event kicked off from Zambia, then continued to South Africa (April 15th to April 19th, 2024) and ended in Angola (April 22nd to April 26th, 2024). The field trip featured interviews with a total of 52 startup ecosystem stakeholders. These discussions were crucial in understanding the unique challenges and opportunities present in the three countries. The diverse perspectives gathered from these interviews provided a comprehensive overview of the current state of the startup ecosystem – the insights gathered will be integrated into the ecosystem mapping report.
During the field trip, a team of 10+ people consisting of individuals from UNDP, local accelerators (Angola: Acelera Angola, South Africa: Grindstone, Zambia: BongoHive), Double Feather Partners (DFP), and a total of 5 Japanese investors from venture capital firms which conducts investments in Africa visited a total of 30 startups and other ecosystem players. The startup visits were part of the final selection process, and the 256 applicants were carefully screened by a panel of judges, including Japanese investors, to select the final Top 6 companies. These visits included direct demonstrations from startups, allowing investors to engage firsthand with the innovative solutions being developed. The interactions were intense and fruitful, with investors posing enthusiastic questions for over an hour at each company. This direct engagement not only showcased the startups' capabilities but also highlighted the vibrant entrepreneurial spirit driving the African startup scene. This field trip marks a significant step forward in enhancing startup ecosystem. By fostering international collaboration and recognizing the potential of diverse markets, the UNDP is paving the way for a more inclusive and innovative future. The journey to innovation is not an isolated path but a collective venture, and through initiatives like this, the UNDP is empowering a new generation of entrepreneurs to transform their ideas into impactful solutions.
Field Trip in South Africa
Field Trip in Angola
Field Trip in Zambia
Field Trip in Zambi
UNDP Meet the Toshikas - Startup ecosystem event:
Additionally, UNDP Meet the Toshikas Startup Ecosystem Events were held in each of the three countries separately, with a total of approximately 210 key stakeholders such as local VCs, investors, banks, incubators, accelerators, innovation hubs, local governments, the Embassy of Japan, JETRO, JICA, Japanese companies in the startup ecosystem in attendance. During the event, 30 selected startups, representing vairous sectors such as Finance, E-commerce, Mobility, Healthcare, Logistics, Renewable Energy, and Agriculture - made pitches about their innovative ventures and were critically accessed by well-seasoned judges through questions and feedback. In essence, such an ecosystem event can lead to significant opportunities for startups, including securing investments, forming partnerships, business matching, gaining market exposure, and receiving valuable feedback and mentorship
As a specific example of business matching, an electric motorcycle startup and a home delivery service startup in Zambia exchanged thoughts on value creation. This matching exercise created an opportunity to promote B-to-B business collaboration.
Acelera Angola talks about Angola’s Ecosystem
Female founders Pitch jointly pitch in South Africa
A startup founder pitches about his innovation to panel of Judges in Zambia
Yannick of DFP Talks about Startup Ecosystem Event
Across the three (3) countries, a panel discussion was held as part of the ecosystem event on the theme: Building a Profitable Ecosystem for Innovative Startups. Experts including Japanese investors, government agencies, representative startups, and accelerators were invited as panelists to share their expert insights including actionable and proven strategies for building a profitable ecosystem. It was an opportunity to share Japanese investors' perspectives with local players, and participants asked a vast range of questions after the panel discussion. The event was attended by government agencies, and the startups were able to build connections with key government agencies and gain opportunities for lobbying. Government officials also had the opportunity to exchange views with startups and dig deeper into the issues in the ecosystem.
A group of startup founders in Angola
Yannick Talks about startup lifecycle during Ecosystem Event
Participants (UN officials, government agencies, implementing partners and Startups) during Ecosystem Event
Panel discussion on the theme Building a Profitable Ecosystem
The feedback from the investors was overwhelmingly positive, revealing the high potential of African startups.
TSI Japan's representative noted, "I have never visited Angola before, but I found that there are many high-quality startups there. I had no information about Angola at all but would consider investing in Angola in the future.”
Samurai Incubate representative also mentioned “Meeting founders in person and observing their operations on the ground is incredibly valuable and worthwhile.”
UNDP appreciates the unflinching support of event partners- main implementation partner,Double Feather Partners, and local partners: Acelera Angola in Angola, Grindstone in South Africa, BongoHive in Zambia, and Japanese investors: Verod-Kepple Africa Partners, Samurai Incubate Africa, and TSI Japan.
Still to come!!!
Selection of Top 6 startups in total (2 startups from each country)
2-month Investment Readiness Support Program for the Top 6 startups
1 week of Japan Roadshow – The Top 6 startups to visit Japan, pitch and secure potential investment
Catalytic grant of USD 120,000 (20,000 each) through the UNDP Innovation Challenge