Ethiopia’s entrepreneurship landscape is rapidly evolving. A new report by GrowthAfrica, as a part of BIC ETHIOPIA co-funded by the European Union, reveals the state and prospects of Ethiopia’s entrepreneurship landscape. The report, titled “Ethiopian Entrepreneur Support Organisations Mapping and insights (2022/23)”, showcases the growth, challenges, and opportunities of the ecosystem, and provides recommendations for its further development.
The report identifies 125 support organisations and programs that offer various services and resources to Ethiopian entrepreneurs, ranging from incubation and acceleration to mentorship and funding. The report also highlights the positive impact of government initiatives and private sector involvement in fostering a vibrant and diverse entrepreneurial sector.
(+) Ethiopia’s entrepreneurial sector has seen remarkable growth over the last decade, spurred by both government initiatives and private sector involvement.
(+) The report maps out 125 support organisations and programs, building on insights from over 60 contributors.
(+) Despite positive strides, challenges like limited startup culture, mentorship gaps, and funding shortages persist, underscoring the need for targeted support and resources.
Why it matters:
Understanding the ecosystem’s current state is crucial for fostering economic and societal progress. Addressing challenges and leveraging opportunities can accelerate Ethiopia’s journey towards becoming a key hub for innovation and entrepreneurship in Africa.
Key areas to advance the Ethiopian ecosystem:
(1) Build and strengthen an organised and collaborative ecosystem
(2) Increase funding to ESOs to build their capacity and resources
(3) Develop a countrywide ecosystem for inclusive growth and support
(4) Increase the pool of experienced and skilled entrepreneur facilitators
(5) Implement ecosystem-supportive and conducive policies
Collaboration is (always) key:
The report emphasises the importance of ecosystem-wide collaboration, government engagement, and effective resource development.
The report is part of the BIC Ethiopia co-funded by the European Union and implemented by sequa gGmbH (project lead) and its consortium partners GrowthAfrica, Menschen Fur Menschen, adelphi, Addis Ababa Chamber of Commerce and Sectoral Associations and icehawassa.
BIC Ethiopia is part of the BIC Africa regional network.