LeadAfrika in South Africa joined the GIST Network Innovation Hub Initiative to provide a stronger network of support for the organization’s entrepreneurs. Through direct access to the resources and knowledge available in the Network, LeadAfrika is working to link its entrepreneurs to valuable stakeholders around the world.
Sectors: Leadership Development, Women Empowerment, Community Development and Youth Development
A Closer Look at LeadAfrika:
According to LeadAfrika, the startup ecosystem in South Africa has grown into a rich network of entrepreneurs at different levels of business. As a result, the ecosystem has a strong knowledge base to help young entrepreneurs succeed. Located in Pretoria, LeadAfrika builds on this knowledge base, breaking down silos for startups and providing entrepreneurs valuable training in areas such as leadership development and women empowerment.
Despite the wealth of knowledge and strong network of entrepreneurs, startups in South Africa still struggle to find adequate funding. LeadAfrika noted that many of its entrepreneurs lack access to funding opportunities, even though there are plenty of South African funders willing to invest. The pain points, according to the incubator, come from a lack of information about funding opportunities or too much red tape for entrepreneurs to cut through. To tackle this problem and expose startups to a global knowledge base, LeadAfrika partnered with the GIST Network to become one of seven Innovations Hubs in 2018.
“It’s important for us to be part of the GIST Network as an I-Hub as the knowledge and experience that GIST Network provides gives our entrepreneurs a global perspective on their ventures,” said Nancy Mavunga, business development and stakeholder manager at LeadAfrika. “It broadens their horizons and opens their minds to possibilities beyond their location.”
Over the next year, LeadAfrika will work with the GIST Network to create training and networking opportunities around the world for its entrepreneurs. By doing so, the incubator is hoping its science and technology entrepreneurs are able to get all the information and knowledge necessary to succeed.