A Billion Startups Program, a leading initiative dedicated to nurturing and empowering entrepreneurs, is hosting a Learners and Experts Meet-Up on Saturday, June 8th, 2024, at the Nairobi Securities Exchange (NSE). This event is designed to bridge the gap between aspiring founders and seasoned industry veterans, fostering a crucial knowledge exchange that will propel startups towards stability and success.
A research by Statistica reported that the average startup failure rate in Africa stood at 54 percent. However, the rate differed across countries. In Ethiopia and Rwanda, 75 percent of the startups ceased operations, while Kenyan startups had a failure rate of 24 percent in the same year. The successful startup ecosystem and low failure in Kenya is attributed to collective support by the government and corporates.
Cognizant of the current entrepreneurial landscape, navigating the challenges of launching and scaling a startup can be daunting. New ventures require not just innovative ideas but also a solid foundation built on sound business practices and expert guidance. Hence the need to hand-hold startups in their early stages. “As innovators, the entrepreneurship journey is uphill. Hence the need for platforms like ABS to learn network and position your brand for excellence.” Said Avril, a program participant and founder My Everything by Avril.
The A Billion Startups Program, launched in 2017, was designed to build capacity, foster community and position entrepreneurs for capital injection with a special focus on youths and women-led startups. The goal of the program is to transform Africa’s economies by providing a nurturing eco-system that fosters startup entrepreneurs and works to help them grow, succeed and excel.
“In today’s competitive business environment, a strong support system is paramount for the success of any startup. While passion and innovation are essential for entrepreneurial success, guidance from experienced mentors can be the game-changer.” says Mary Njoki, Founder A Billion Start-Ups Program. “Hence, the continuous commitment to provide a platform where learners not only acquire knowledge but also meet experts to gain invaluable insights directly from industry leaders.”
The A Billion Start-Ups Program is committed to nurturing a thriving entrepreneurial ecosystem in Kenya. By providing access to expert guidance and fostering a supportive community, the program empowers aspiring entrepreneurs to translate their ideas into successful ventures that contribute to economic growth and innovation. Currently, the program is supporting a cohort of 30 entrepreneurs in various businesses.