StartUpsRwandaTechnologyWhy You Need to Make Rwanda Your Next Startup Destination.

Alestide KabogoFebruary 4, 202359214 min
Source: freepick

The ecosystem that could be your startup spot to boost your Tech Start-up!

“Rwanda is a small country, but it is swiftly establishing itself as an important African innovation powerhouse by thinking outside its borders.”

Source: freepick

Tech start-ups are critical to the growth of African economies, but they face numerous challenges, including a lack of an enabling environment to grow their businesses.

Governments like Rwanda are doing a lot to establish a supportive and enabling environment, particularly for tech start-ups operating in multiple sectors across the country.

Rwanda’s start-up industry is gaining traction. One of the ecosystem’s most active players have been Tech-startups, with some investors already registering.

The most recent example being the Norrsken Foundation’s hub in Rwanda, which inaugurated its first entrepreneurship hub outside of Scandinavia, co-created to be a space and network for innovators to tap into as they work to address the world’s most pressing issues, fostering innovation and collaboration.
Despite the seemingly unavoidable hurdles that startups face in developing economies, countries such as Rwanda have recently seen some remarkable developments that benefit or will benefit the industry. Rwanda is likely to become the startup powerhouse of the most promising Tech-startups on the continent due to this.

Why Rwanda Should Be your Next Startup Destination?

Rwanda’s economy is based on the private sector, making it suitable for newcomers looking to establish a foothold on the continent, as entry barriers are almost non-existent.

Moreover, Rwanda’s untapped power provides a wide range of business opportunities. Rwanda’s business-friendly environment, market accessibility, and geographic centrality are just a few of the reasons why you should establish a business there.

A Business-Friendly Setting:

Rwanda was placed 38th in the world and second in Africa for ease of doing business in the World Bank’s Doing Business 2020 report.

The government has earned this position through years of continuous and concerted efforts to reform Rwanda’s economic environment. Rwanda’s progressive and reforming policies make it a globally competitive business environment.

  • A business can be registered in less than a day (most often less than 6 hours) and for free. The entire procedure can be completed online.
  • Rwanda offers a wide range of fiscal and non-fiscal incentives to domestic and international investment. For example, there is no minimum capital requirement for entering, and “newly founded small and medium-sized firms are exempted from paying the trading license tax for the first two years of operation,”
  • The government established the Kigali Special Economic Zone (KSEZ) to boost private sector investment and strengthen the industrial and non-agricultural sectors. The Kigali Special Economic Zone (KSEZ) is located 10 kilometers outside Kigali and provides direct access to the Central Trade Route. The KSEZ also offers access to roads, water, power, fiber-optic internet, and sewage infrastructure for industrial enterprises.

Access to the Market

Rwanda’s economy has been growing at a rapid pace, averaging over 7% each year over the last decade. As a result, living standards have risen sharply. Rwanda’s ambition is to become a knowledge-based, ITC-driven middle-income economy.

  • Rwanda’s population is young and open to adopting new technology solutions, making it an “excellent area to begin and test a tech firm.” Disrupt Africa reveals that.
  • The Rwandan Ministry of Youth and ICT created the Smart Rwanda Master Plan (2016–2020), which focuses on business and innovation. Rwanda will become Africa’s ICT hub, with universal digital literacy and massive attention on research and development in areas including the Internet of Things, Big Data and Analytics, Cyber Security Research, Creative Industries, Multimedia, Mobility, and Digital Lifestyle.

Ecosystem Players:
A range of stakeholders in Rwanda’s startup ecosystem provide non-financial business support, mentoring, and co-working spaces. 250STARTUPS,  Impact Hub Kigali,  Westerwelle Startup Haus Kigali, African Entrepreneur Collective, Norrsken Kigali, and Iris Hub .. KLab are key ecosystems players in this field, to mention a few.

Startup Spotlight:

The combination of all the above makes Rwanda the ideal destination for those seeking to do business or to invest in a new market. These are just a few pieces of evidence that Rwanda is establishing itself as a startup and innovation hotspot. The country, which hopes to persuade investors and global corporations that it can serve as their ” great demo space” in Africa.

Rwanda has a clear, ambitious vision and during the previous years, every effort has been made to realize it. Although some may still be dubious of Rwanda’s nickname of “Singapore of Africa,” the evidence is in the pudding, and the country has already established itself as one of Africa’s safest and most sophisticated countries, as well as a model for how a focused government can empower its people.

Alestide Kabogo

Alestide Kabogo is a motivated young Leader with an exceedingly motivation in harnessing the potential of young people on the continent. He is on a mission to create, design, and advocate for youth-friendly solutions as a platform that can easily address the most pressing health challenges and economic opportunities worldwide through a wide range of innovations. He is a more vigorous advocate for youth empowerment programs in sustainability concepts. He believes in the power of young people and what they can achieve when they are provided with the opportunities, skills, and tools. He gets to enjoy digging deep into the difficulties of healthcare in Africa and how they might be addressed. He is highly interested in leveraging his writing skills to communicate scientific, medical, and health-related trends to a broad audience, and the vibrant Africa-wide tech ecosystem. Alestide is straightaway pursuing an honors degree in Global Challenges at the African Leadership University.

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