Startups are a very small part of start-up activity, but still on everyone’s lips. They are considered to be an important engine for economic development and social progress because they not only create jobs, but also help new ideas and technologies to break through. With innovative business models, they challenge the established top dogs in the industry and initiate the modernization of the entire economy.

In Africa we often look jealously at the USA, which is home to the most expensive and successful startups of all time. But before we freeze in awe, we should realize how lively and creative the startup scene in this country has long been. Africa is also catching up in terms of financing options. So if you have a cool business idea in mind or you are excited to start something completely new, we see no reason not to turn your dreams into reality.

Definition: what exactly is a startup?
The term startup is often used for any type of company formation that seems somehow fresh and modern. However, if you open a hair salon in your city, no matter how hip it is, it is not a startup.
One speaks of a startup when a company is founded with a new business idea and high growth potential.
Apart from this definition, startups also stand for a certain “disruptive” self-image: They question familiar processes and try out new things. In doing so, they have a keen eye for trends and what people want and need. “Just do it and learn from mistakes” – that is the motto, thanks to which startups pick up new developments faster than the competition and convert them into innovative products.
The startup culture is therefore characterized by openness, the will to learn and the willingness to question every conviction. A foosball table in the hallway does not mean a startup. Flat hierarchies, short decision-making processes, trust in the skills of each individual team member and a relaxed atmosphere, however, do.

Steps to success