Home » START-UP ECOSYSTEM – Support is growing

START-UP ECOSYSTEM – Support is growing

by drbyos

From incubators to programs launched or supported by technical and financial partners (PTF), through projects led by public and private entities, initiatives and structures dedicated to supporting start-ups are multiplying in Madagascar within of an ecosystem that is gaining momentum year after year.

In addition to the conferences and other workshops organized to encourage young people to become independent and to create their innovative business, it is also clear that competitions and calls for applications aimed at developing the ecosystem of start-ups are increasingly many. For their part, investors are beginning to jostle to attract the most promising young shoots to their stables. The new context means that young entrepreneurs can now rely on various support structures to launch or boost their activities. “Platforms dedicated to technical and financial support for innovative companies are increasing visibly,” notes Lova Andrisoa, who has just started in the field of e-commerce. The country also has a platform bringing together entrepreneurship and innovation support professionals. The latter has set itself the task of strengthening technical support for small business project leaders.

On the side of the Economic Development Board of Madagascar (EDBM), it is argued that the dynamic to promote start-ups is there. And this structure reminds us that various actions have been carried out to facilitate the development of young entrepreneurs. Among these, E-toolia, presented as one of the pillars of the digital ecosystem development project on the Big Island. The tool, which comes in the form of an online platform, was created thanks to the support of the Swiss Confederation. “It’s a particularly pragmatic way to support start-ups and SMEs in Madagascar. This online toolbox aims to provide entrepreneurs with a solution that will allow them to excel in their sector of activity and facilitate their investment research,” says the EDBM.

Digital is on the rise

Recently, it was the official launch of the Miary program project in the digital sector that made the news. This project is an incubation and grant allocation program for start-up entrepreneurs in the digital sector, incubated by cohorts. Three incubators are involved in this initiative: Orange Digital Center (ODC), Zafy Tody and Next’A. “They were selected to ensure the competitive selection, then the incubation of project leaders and the strengthening of their capacities to build digital businesses”, it was explained. The incubation will last between 6 to 12 months per cohort and will consist of providing startups with infrastructure, business development services, training and support as well as their network to develop their projects. Beneficiaries of the program will be able to apply for a grant worth $5,000 to $15,000. The request will be studied and validated by a Validation Committee made up of the Ministry of Digital Development, Digital Transformation, Posts and Telecommunications (MNDPT), the Ministry of Industrialization, Trade and Consumption (MICC), the PIC Project and the World Bank as observers.

“Business models with a digital solution will be expected: DCleantech, Fintech, Healthtech, Real Estate Tech, Transport, Security, Edtech, E-Commerce & Retail, Aggrotech, Traveltech and logistics are strongly encouraged. We want to see digital solutions with a positive impact on the climate”, it was also underlined. Tahina Razafindramalo, Minister in charge of Digital Development, welcomed the launch of this project insofar as “the expected impacts are the creation of formal jobs and the creation of income for young people”. The member of the government specified that the Miary Digital project is an opportunity for the employment of young people representing 64% of the population and constitutes a living force to be capitalized on. It should be noted that Madagascar’s asset is above all its human capital and start-up incubation initiatives are all opportunities to promote and train young people in achieving the presidential vision, in particular concerning employment. decent for all and the modernization of Madagascar.

Related Posts

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.