In a time where the spotlight is increasingly shone on African startups, the complexities of scaling beyond national borders cannot be overstated. While local ingenuity is rife, the challenge lies in translating this into a global vision.
African startups are not short on creativity and resourcefulness, qualities that make them invaluable in international markets. From fintech solutions revolutionising European banking to health tech innovations making strides in the United States, the potential is boundless. However, the question remains: how can these startups adapt their strategies to fit into international markets?
The answer, it seems, lies in a change of mindset and a focus on funding. A report by reveals that since 2015, funding for tech startups in Africa has surged by over 1000 percent, with the number of funded startups increasing by 406 percent annually over the same period. In contrast to a decline in startup funding in Latin America and Asia Pacific, Africa saw a 5 percent growth in 2022. Funding from foreign investment suggests that African startups are increasingly looking beyond the continent, challenging the conventional expansion framework that focuses solely on pan-African growth.
Take the case of , a South African startup founded in 2018 by and . What began as a group project at the University of Stellenbosch has transformed into one of South Africas . With a year-on-year growth rate of 230 percent, Specno now employs 50 full-time staff and has serviced over 100 clients worldwide. In 2022, the company expanded its operations to Amsterdam, a move that Novitzkas describes as fraught with challenges but also filled with opportunities. South Africa has incredible talent, but scaling a startup here is challenging due to a small market and logistical and regulatory hurdles, he says. Specno also recently announced its partnership with , a global technology investment firm from Sweden. The collaboration has enabled Specno to extend its footprint and leverage its unique innovation framework and growth strategies to drive the European and African tech sectors forward.
Specnos local projects, such as redesigning PEPs website to improve user experience and SEO, serve as a testament to the companys commitment to local expertise. Working with a national corporate company requires regular check-in presentations to various stakeholders, notes Novitzkas. Such interactions provide learning opportunities from the clients unique perspectives, making the project highly collaborative.
Internationally, Specno has also made its mark with SchoolPass, a US-based edtech company. They turned to Specnos expertise to migrate their 15-year-old website to a new, mobile-friendly framework. Samuel Rosenfeld, Director of Product Management at SchoolPass, states that it enabled tens of thousands of users to measure wellness, manage attendance, and handle emergencies each day.
As the company prepares for the this week, the message is clear: African startups have the potential for global impact. The , a side event to the Summit hosted by Specno, will offer invaluable insights into the tech scene and is set to be live-streamed on 27 September 2023. Novitzkas will be speaking at the SA Innovation Summit in Cape Town, covering topics such as Navigating the Funding Journey and Venture Building: Navigating the Path to Innovation and Success.
Specnos ambitious goal to help one million people build tech-enabled businesses by 2030 serves as a beacon for what African startups can achieve on the global stage. With the right mindset, adequate funding, and a willingness to adapt, the sky is the limit for these startups. As we look to the future, it is clear that African startups are not just local heroes but are increasingly becoming global champions.
About Specno : Specno is a leading design and development agency based in Cape Town, South Africa. Founded in 2018, we help startups, businesses and large enterprises validate, design and build their app ideas. In 2022, Specno was recognised as one of the top-rated app-development and user-experience agencies in South Africa .
For more information, visit .
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