Page 17 - EngineerIT November 2022

START-UPS – ANOTHER PERSPECTIVE

Africa itself shares the hallmarks of

a tech start-up, which bodes well

for its global competitiveness

By Joshua Raphael, CEO of Parket

t is widely accepted that Africa’s potential is likely to be unleashed through widespread
and sustained digital transformation. In other words technology, and the innovative
Isolving of complex problems, will catapult the continent into global competitiveness.
This is not just theoretical, it is likely, and this is because Africa itself shares the hallmarks
of a tech start-up.
Comparing a continent to a start-up may, at first glance, seem odd, until we look at
what most start-ups have in common: while they all need inspiration and perspiration
to succeed, there is an element of desperation. This desperation is not of the negative
variety, rather it is the jet fuel of innovation.
Consider an average start-up. One may argue that about 10% of its success comes
from inspiration - there is a problem to solve and an opportunity to solve it with
technology. Eighty percent of the success comes from perspiration - doing the hard Joshua Raphael
yards, pitching to investors, hiring staff, and selling the product or service. What then of
the remaining 10%? The start-up is desperate to survive - it simply has no choice but to
innovate to be competitive at best or survive at worst. It must find creative solutions to To illustrate the point more clearly,
the challenges it encounters. let’s take a look at the history of
Africa has no shortage of inspirational ideas and its people are no strangers to hard technology and how it relates to today.
work. However, it also has challenges that would otherwise choke industries. Think Simply put, technology is what helps
about poor connectivity, missing infrastructure, informal economies and large unbanked humans get from point A to point B more
populations, amongst others. Entrepreneurs on this continent are forced to be creative efficiently. Long ago, the wheel was
and develop solutions because of, and not despite, the continent’s challenges. The result invented to make transporting humans
is increased efficiency. and goods more efficient. This innovation

EngineerIT | November 2022 | 17