The United Nations Development Programme (UNDP) is embarking on a groundbreaking initiative to raise $1 billion in collaboration with African governments and private sector partners. This initiative aims to establish a network of 10 technology hubs across Africa, fostering innovation and supporting startup growth continent-wide.
The first tech hub, set to launch at UNDP’s innovation center in Lagos, Nigeria, marks the beginning of the world’s largest effort to empower Africa’s tech ecosystem. Additional hubs will follow in 2024, including specialized centers such as an agritech hub in Accra, Ghana, a healthtech hub in Kigali, Rwanda, and a minetech hub in Lusaka, Zambia.
UNDP Africa Bureau Director Ahunna Eziakonwa highlighted the significance of these hubs in catalyzing a startup revolution. They will serve as incubators for young innovators, providing resources and space to develop ideas into viable products and sustainable businesses.
In parallel, the initiative includes University Innovation Pods across 13 African cities, reinforcing research and development capabilities crucial for nurturing the next generation of entrepreneurs. This comprehensive approach underscores UNDP’s commitment to leveraging technology for economic transformation and job creation across Africa.
The $1 billion fund, sourced from public and private institutions, will support over 10,000 youth-led startups. This funding aims to bolster sectors vital to Africa’s growth, including finance, agriculture, and healthcare, empowering the continent’s burgeoning youth population to drive innovation and economic progress.
This initiative aligns with the Timbuktoo Initiative’s broader goals, aiming to create 10 million job opportunities and positively impact 100 million lives by enhancing Africa’s startup ecosystem. As Africa continues to attract global attention for its vibrant startup landscape, initiatives like these are crucial for sustaining growth and fostering homegrown innovation.
Join UNDP and its partners in shaping the future of African tech entrepreneurship. Together, we’re paving the way for sustainable development and prosperity across the continent.
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