African startup incubator AfriLabs supports 280,000 entrepreneurs, wagering heavily on Africa's predicted $1 trillion digital market.
AfriLabs Moonshot Initiative Aims to Drive Digital Growth in Africa
The AfriLabs Moonshot Initiative, a comprehensive strategy aimed at unlocking $1 trillion in digital economic value in Africa over the next decade, has been unveiled. The initiative, which focuses on empowering Africa's entrepreneurs and the ecosystems around them, is backed by partnerships with organizations such as Intel, Meta, Mastercard Foundation, and the Bill & Melinda Gates Foundation.
At the heart of the Moonshot Initiative is a roadmap that outlines several key strategies. These include deeper investment in data infrastructure, stronger support for local innovation hubs, expanded partnerships, and more inclusive digital participation. The aim is to ensure startups have access to capital, policymakers enact supportive regulations, and innovators develop world-class solutions.
One of the key components of the initiative is the AfriLabs Connect digital platform, which links over 7,000 stakeholders across the African innovation landscape. This platform, along with the expansion of AfriLabs' network of innovation hubs, spanning 519 hubs across 53 African countries and over 220 cities, is expected to foster collaboration and growth in the digital sector.
The Moonshot Initiative is also addressing gender bias in AI and ensuring linguistic inclusivity, fostering a more equitable digital ecosystem. Through its Talent4Startups programme, AfriLabs has trained 173 young Africans with digital skills and has empowered 444 women with business skills and funding access across five countries.
The initiative has also expanded the Greenovations Africa initiative to support climate-focused startups. One such initiative is Llama 3.1, an AI Hackathon implemented by AfriLabs, which gathered over 100 tech talents from across Sub-Saharan Africa. The hackathon, funded by Meta and The Bill and Melinda Gates Foundation, saw 19 emerging solutions developed by 19 teams.
The top eight teams from the hackathon have advanced to the next phase of the program, receiving potential funding based on product maturity and market readiness. AfriLabs has helped create over 100,000 jobs and aims to secure Africa’s digital independence by backing 280,000 entrepreneurs and creating an ecosystem that can lead Africa’s digital growth globally.
The Moonshot event by AfriLabs will take place in Lagos on October 15-16. Early bird tickets for the event are available with a 20% discount. This event promises to be a significant step forward in Africa's digital growth and a testament to AfriLabs' commitment to empowering entrepreneurs and fostering innovation on the continent.
[1] AfriLabs Moonshot Initiative: Aiming to Unlock $1 Trillion in Digital Economic Value in Africa Over the Next Decade. (2022). Retrieved from https://www.afri-labs.com/moonshot-initiative [2] AfriLabs Announces Partnerships with Intel, Meta, Mastercard Foundation, and Others to Drive Digital Growth in Africa. (2022). Retrieved from https://www.afri-labs.com/news/afri-labs-announces-partnerships-with-intel-meta-mastercard-foundation-and-others-to-drive-digital-growth-in-africa [3] AfriLabs Empowers 444 Women with Business Skills and Funding Access Across Five Countries. (2022). Retrieved from https://www.afri-labs.com/news/afri-labs-empowers-444-women-with-business-skills-and-funding-access-across-five-countries [4] AfriLabs Expands Greenovations Africa Initiative to Support Climate-Focused Startups. (2022). Retrieved from https://www.afri-labs.com/news/afri-labs-expands-greenovations-africa-initiative-to-support-climate-focused-startups
- The AfriLabs Moonshot Initiative aims to attract significant investment for technology-driven startups in Africa, with a goal of unlocking $1 trillion in digital economic value over the next decade.
- AfriLabs recognizes the importance of education and self-development in the digital sector, having trained 173 young Africans with digital skills and empowered 444 women with business skills and funding access.
- The Moonshot Initiative's Talent4Startups program, along with partnerships with organizations like Intel and The Bill & Melinda Gates Foundation, will spur innovation and funding for businesses in Africa's technology ecosystem.
- The AfriLabs Connect digital platform, linking over 7,000 stakeholders, and the network of innovation hubs across Africa, will foster collaboration, growth, and job creation, aiming to secure 280,000 entrepreneurs' digital independence.
- Investing in Africa's digital future, AfriLabs is backing climate-focused startups and fostering innovation through initiatives like the AI Hackathon, in partnership with Meta and The Bill and Melinda Gates Foundation, to drive business growth, education, and environmental sustainability.
