Does the Sub-saharan region have the potential to prove its global innovative status?
This is the question explored by Aurora Chisté. Chisté is CEO and co-founder of Hack for Big Choices, a global movement empowering entrepreneurs to solve local problems by developing innovative products and businesses.
In her piece first published article in the Huffington Post, West Africa: Transforming Potential Into Impact, it is clear that Chisté believes that the continent is capable of high impact innovation; from the region’s rising population growth to increased entrepreneurial activity and purchasing power.
Here are her reasons in 5 powerful quotes:
1. Increased levels of entrepreneurial activity
“Sub-Saharan Africa, is also a region with the highest rate of adults involved in early-stage entrepreneurial activity. The entrepreneurial activity occurring in this area is over two times that of North America (11 percent) and over three times that of Europe (8 percent). This means that approximately 27 percent of adults (ages 18-64) in Sub-Saharan Africa are involved in startup businesses”.
2. Increased population growth
“Sub-Saharan Africa is the region with the fastest growing population and highest number of emerging entrepreneurs in the world who face the most crucial issues in the world. Instead of creating need-based businesses with short-term solutions, what if these emerging entrepreneurs could stay focused on creating innovations that potentially have longer term benefits to their communities?”
3. Purchasing power
“The global bottom-of-the-pyramid market consists of 4 to 5 billion underserved people with an economy of more than $13 trillion PPP (purchasing power parity). Much of Africa is considered part of this bottom-of-the-pyramid market, so let’s focus on what Africa has, instead of what it doesn’t“.
4. Talent as a resource
“To create a more inclusive system, we need to create a global culture where people are free to cultivate their visions and stand proudly in discovering how their talents can transform them into global “digital” citizens. These young, talented individuals are the greatest and most precious resource any country can have.”
5. Hunger and talent
The goal is to impact African economies by bringing together their hungriest and most talented entrepreneurs in order to create sustainable, innovative businesses that match their entrepreneurial intentions with opportunities.