Communities are designed to improve the microeconomic competitiveness of a region by removing the barriers that inhibit investment in entrepreneurs.
While sound macroeconomic factors affect the potential for competitiveness, wealth is actually created at the microeconomic level. This microeconomic competitiveness is determined by the productivity with which a location uses its existing human, capital, and natural endowments to create value. Improving this productivity ultimately depends on improving the microeconomic capability of the economy. In the end, prosperity is not determined by what a location competes in, but how productively it competes.
Eastern Africa had an estimated population of 260 million in 2000. This is projected to reach 890 million by 2050, with an average growth rate of 2.5% per annum. Currently the median age in East Africa is only 18.1 years old, a tremendous workforce ready for employment.
Mobile technologies have had a transformative effect on the lives of Africans across the continent. While the first technology revolution centralized power, the mobile revolution decentralizes it. This enables a variety of new business models, transforming existing markets and spurring entirely new ones.
The costs of technology are dropping and new cloud services deliver terrific value. Marketing costs are lower due to a variety of broadly-available, low-cost, online distribution channels which can be used in more measurable and predictable ways than ever before. The tools to test reality and create value have never been more widely available.
As a result of expanding access and falling costs of innovation, solutions are becoming more and more user friendly in a bid for more market share. This allows people with limited education to search for and manipulate information; transact in virtual spaces; and substitute services for goods in economic activities.
Startup East Africa (SEA L3C) builds communities that scale the impact of innovative market-based solutions supporting Small & Growing Businesses (SGBs) by providing the infrastructure for identifying and acting on shared value opportunities.
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