Record-breaking $560m for African tech startups in 2017, says report

By Chris Giles, CNN

Updated 1205 GMT (2005 HKT) February 23, 2018

Africa is experiencing increased investment in its tech industries. One contributing factor is the amount of tech hubs in the major urban centers that are sprouting. According to research from <a href="https://www.gsma.com/mobilefordevelopment/programme/ecosystem-accelerator/things-learned-tech-hubs-africa-asia" target="_blank">GSMA Ecosystem Accelerator</a> in 2016 there were 314 active tech hubs across the continent. <br /><br />Part of the appeal of tech hubs is that they provide affordable shared office space, fast internet, and access to reliable electricity, something that the continent overall still grapples with. Nairobi Garage in Kenya's capital offers all of these things, and holds tech events, conferences and workshops helping entrepreneurs gain new skills. Also in Nairobi, iHub tech incubator lists more than 150 companies that can trace their origins to ideas sparked there.
Photos: The African tech hubs fostering innovation
Nairobi, Kenya – Africa is experiencing increased investment in its tech industries. One contributing factor is the amount of tech hubs in the major urban centers that are sprouting. According to research from GSMA Ecosystem Accelerator in 2016 there were 314 active tech hubs across the continent.

Part of the appeal of tech hubs is that they provide affordable shared office space, fast internet, and access to reliable electricity, something that the continent overall still grapples with. Nairobi Garage in Kenya's capital offers all of these things, and holds tech events, conferences and workshops helping entrepreneurs gain new skills. Also in Nairobi, iHub tech incubator lists more than 150 companies that can trace their origins to ideas sparked there.
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Over 50% of tech hubs are in five countries, South Africa, Kenya, Nigeria Egypt and Morocco. One of the biggest in South Africa is Durban's <a href="http://www.smartxchange.co.za/index.html" target="_blank">SmartXchange</a>, which strives to develop small and medium enterprises, and holds monthly forums where successful business figures offer advice to aspiring entrepreneurs.<br />
Photos: The African tech hubs fostering innovation
Durban, South Africa – Over 50% of tech hubs are in five countries, South Africa, Kenya, Nigeria Egypt and Morocco. One of the biggest in South Africa is Durban's SmartXchange, which strives to develop small and medium enterprises, and holds monthly forums where successful business figures offer advice to aspiring entrepreneurs.
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Cape Town-based <a href="http://www.rlabs.org/" target="_blank">RLabs</a> organizes digital and entrepreneurship bootcamps, and provides an investment of up to $20,000 for every social enterprise developed through their program.
Photos: The African tech hubs fostering innovation
Cape Town, South Africa – Cape Town-based RLabs organizes digital and entrepreneurship bootcamps, and provides an investment of up to $20,000 for every social enterprise developed through their program.
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The east Africa nation's capital is home to <a href="http://www.iceaddis.com/about-iceaddis/" target="_blank">iceaddis</a> which supports youth-driven private sector initiatives and promotes interaction between techies, entrepreneurs, investors and people from the creative industries.
Photos: The African tech hubs fostering innovation
Addis Ababa, Ethiopia – The east Africa nation's capital is home to iceaddis which supports youth-driven private sector initiatives and promotes interaction between techies, entrepreneurs, investors and people from the creative industries.
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