“Startup Nation”, France to invest $75 million in African startups

Having said before now that France would think and act like a “Startup nation”, operating like a real startup, President Macron is sure taking further steps to uphold that.The president has declared that France will be giving back to a new $76 million (€65 million) digital project. This project is one that will offer funding for African startups.

He made this known at the third edition of the ongoing VivaTech trade fair in Paris. Saying that, to do this, sums ranging from €30,000 to €50,000 would be provided from the French Development Agency (AFD) to African entrepreneurs. Sure, this would go a long way to boost startups in the continent.

According to President Macron, he feels that, “African startups have energy but the big providers of development aid and financiers have not adapted to that. We ourselves are too slow, too hesitant.” This scheme will be launched in the coming weeks and applications would be open for African startups.

As there is increased growth of startups in Africa, we can say that the ecosystem is improving. And for it to thrive better, it is important that there are investors who are willing to place their bet on it. Initiatives like this coming from the president of a country from an entirely different continent should be encouraged.

Also, given the potential the African continent has, we can say that France as a country are also in it for the gain. Emmanuel Macron made this obvious with recent visits to Africa and his appreciation of the impressive initiative coming from the continent. Anyways, we await the rollout.