The African technology ecosystem is experiencing a boom in the number of new entrants. Insights show that Africa’s tech market size is currently estimated to be worth over $115 billion and predicted to grow to $712 billion by 2050. What this means is that more businesses with technology-driven solutions are being established every quarter.
Leading business publication, Entrepreneur, disclosed that 50% of businesses fail by the end of their second year. The shortened lifespan of businesses, especially tech startups can be attributed to a number of factors. Some of which include wrong product-market fit, lack of funding, scarcity of skilled talents, government policies, wrong business model, poor leadership, etc.
On funding, The Big Deal stated that start-ups in Africa have raised more than $850 million through 150+ deals in Q3 2022. However this feat is considered poor in view of what the ecosystem has delivered over the past one year, when startups raised over $2.9 billion dollars in funding with $1.7 billion going to Nigerian startups alone. If funding is not coming in as expected, startups need to pull themselves up by their bootstraps to continue to exist in 2023.
Common among many African tech startups is the lack of knowledge and limited community support that most business leaders in other industries experience. One would agree that having a community is similar to having a family. A community serves as a source of knowledge building and helps to develop relationships and resource pools for long term growth.
In order to help more tech businesses scale the many challenges that come with the early years of business operations, African tech consulting agency, Startup Launchcode, is on a mission to build a village where Founders can have innovative and actionable growth strategies that boost bottom-line and market share.
As such, Startup Launchcode, a company likened to the fairy godmother of African startups provides businesses with all-round growth and marketing support so founders are able to focus on building exceptional products that solves real life issues and keep their users happy, keep their investors smiling and their team inspired. The agency offers a range of services including market strategy, customer acquisition, growth consulting, brand storytelling, branding and design, as well as growth marketing.
Startup Launchcode has community services built for knowledge sharing and support tools; Founders School, Growthpod, and Launchpad. The Agency continues to provide businesses with all that they require to survive and thrive. To reach them, Founders can schedule a call on the Startup Launchcode website; https://startuplaunchcode.co/ .
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