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> We’ve had a few successes. One of our companies was acquired by an Accel backed company. > The other is Saya, the first African company to pitch at TechCrunc
by yinso 9y ago
> We’ve had a few successes. One of our companies was acquired by an Accel backed company.
> The other is Saya, the first African company to pitch at TechCrunch Disrupt. Weeks before the event the founders didn’t even have passports!
It is very cool that there are already success stories.
Without ever being in Africa, I lack the knowledge and wonder if the current infrastructure is capable of supporting knowledge-based economy on a broad scale, but it's certainly good to see that high tech businesses could thrive there, and incubators are getting created.
- jernfrost 9y agoMost of these countries are developing countries with low education levels so obviously it can't be broad, but of course in any country there will be a segment of the population who are well educated and/or affluent. Take China, most Chinese are dirt poor but because there are so many Chinese you can go to modern enclaves like Shanghai and never experience this poverty. In general however return on investment tends to be high in developing countries because they lack so much. There are lots of businesses you can start with minimum competition. E.g. I've seen many stories about poorely educated Chinese getting rich in Africa. They start shops, facories and all sorts of stuff lacking
- ejanus 9y ago>>poorely educated Chinese getting rich Why can't educated Chinese do same ?
- bobabooey02 9y agoThey can, and many do succeed. In the US right now, education is a proxy for class, so saying the uneducated Chinese can succeed is like saying the Chinese lower class can succeed, which isn't necessary true. It requires capital to start a business, not education.