If we had a world cup for Entrepreneurs, what would it look like? Would we get a bunch of high tech graduates from MIT, Yale or Oxford all showing off their new mobile apps or flying quadchoppers with micro spy equipment? Or would be see a bunch of people in white coats with microscope slides detailing the latest in GMO foods or grow-in-a-lab babies? Or the latest in financial investment schemes where your $1 could be turned into $5 by the end of the week.
Where would Africa feature? Would any of our team make the grade to play in the finals? Would the people who are faced with a daily experience of having to fix things themselves, using only what they have, some innovation and imagination, make the team?
Entrepreneurship in Africa is not on the big stage. Yes, we have our handful of inventions, but we can’t yet compete with the big innovation hubs at the business schools. Most Entrepreneurs in Africa operate as survivalists not finalists. Each day is a battle fought against red tape, government corruption, poor laws, uncooperative banks and non-paying customers. This daily battle just to keep your business open for another day is sometimes the only goal that entrepreneurs have.
This compared to the incubators, schools and Angel funds that offer fast tracking of any viable idea through the stages of development to sustainability, partnered with experienced coaches, professors and investors. Raising money for ideas seems to be a bit easier elsewhere in the world, than here in Africa.
I can count on my hand the number of high quality investments made to entrepreneurs here in South Africa. Some of these will never make it to IPO. We just do not have the foundation and backing of solid organisations or governments willing to put money and effort into the right people with ideas. Money and effort is always directed at political gain targets, trying to buy votes rather than sustainable job creation.
If we showed up at the Entrepreneurs World Cup, we would win first prize for innovative ideas and survival creativity, but be knocked out in the first round for lack of support, poor coaching and not enough funds to buy team jerseys.
Sad but true.
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