Yakubu
We believe that African startup founders will be a massive part of the continued development of the continent. But a sharp trend observed in YCs latest cohorts suggests that the global accelerator may now be looking less at African (and other nonUS) startups.
About 50 of the startups YC funded in its 2021 summer batch were based outside the USa move which, at the time, highlighted the accelerators increasing global presence.
But unlike India and some of these other economies, Africas technology ecosystem is just beginning to fledge, and YCs presence directs muchneeded attention to the continent, enabling more funding and growth opportunities.
Implications for the African tech ecosystem
Given YCs outsized role in the African tech funding market, its easy to imagine a gloomy picture for the continent should the global accelerator decide to shelve its panAfrican ambitions.
This belief is supported by the result of our recent State of Innovation Research report, which demonstrates an increasing belief in innovation coming from Africaand the importance of accelerators for the African ecosystem, she said.
The way forward
There are arguments that it is probably too early to confirm YCs scaledown in Africaespecially as their reduced footprint is at a global level (only in the US did they up their game).
Keypoints
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