Tech Start-ups And Entrepreneurs Propelling Their Ideas Into Strong Companies
The rapid evolution of inventions and innovations in the Information and Communication Technology (ICT) in Kenya has created a fertile ecosystem in the country for tech entrepreneurs and start ups.
This development is due to Kenya’s huge growth in ICT, which has been instrumental in Kenya’s development, connecting communities and businesses at both the local and international levels.
The key driver of these advances has been the internet, which has become a great tool for innovators, startups and entrepreneurs to improve their lives while promoting economic growth.
The country’s ICT sector is said to be contributing up to 8 per cent of the country’s Gross Domestic Product (GDP) through IT-enabled services (ITES), and has created over 250,000 jobs as of 2020.
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Today, Kenya prides itself of such innovations as M-Pesa, Cellulant, M-Kopa, Branch, Ushahidi and the iHub among others. These innovations have been developed mainly through necessity, while seeking to solve the day-to-day challenges that are experienced in all sectors of the economy.
Such innovations have generated much hype, and has prompted the Kenya Government to support such opportunities by startups and ICT businesses. The government recently put into law a Data Protection Act that puts it on par with European standards, in a bid to attract foreign investment for local startups and ICT enterprises.
The players have greatly benefited from business incubators which have been acting as their engine for growth. Incubators such as Nairobi Garage, CCHub, C4DLab, iBizAfrica and mLab East Africa amongst others have provided entrepreneurs with the facilities, mentorship – and sometimes funding – to develop innovative new businesses, further propelling their ideas.
The digital participation by the small ICT players and businesses has given the country a strong reputation for developing digital solutions.
This has, in turn, seen an influx of initial seed or donor funding and incubator programmes from Angel Investors who are not only funding, but imparting skills and knowledge to their enterprises.
The IT service providers have been contributing considerably to the growth of ICT in Kenya by providing solutions right from the Telecommunications sector, Cyber Security, Cloud Solutions, Internet of Things, e-Commerce & Apps, Mobile Devices & Accessories and Consumer Electronics.
With a popularly priced workforce that is readily available, sound government policies and a thriving ICT industry all contribute to the success, allowing ICT services providers offering bespoke IT services.
IT Startups and Entrepreneurs, who happen to be a large pool of English-speaking graduates with IT background, have set up innovative companies that rely on online services and agile scalable solutions.
The government has been working hard to digitize the country, and its efforts have borne fruit. Today, the government has built an innovative ecosystem with efficient IT infrastructure.
This has spruced up a highly competitive entrepreneurial environment, leading to a seamless transition towards a knowledge-based economy.
This knowledge-based economy supports innovation, technology development, entrepreneurship, the private sector, human capital skills development, and ICT infrastructure development.
Entrepreneurs and startups have made transformational impact on the economy and society as a whole, with the ability to impact consumption patterns with their innovative use of technology.
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