For the fifth consecutive year VC4A has produced annual research and analysis on trends in the African startup ecosystem. For the 2018 research cycle, VC4A has published a pan-African study including 6 country specific deep dives.
VC4A research on 522 ventures registered in the country shows a clear relationship between venture performance and the support these ventures receive from the Ghanaian startup ecosystem. For example, 50% of companies participating in ecosystem support programs secure investment. Even more interesting, the average investment secured is more than 2.5 times higher for the ventures receiving ecosystem support: USD $322K vs USD $124K. These companies are also more likely to create new jobs.
More specifically, 71% of the Ghanaian ventures are creating jobs with an average of 8.04 FTE per venture. When taking a further look at the age groups, 60% of the employees are between 12 and 35 years which is equal to the percentage that has been tracked by VC4A on a pan-African scale. This is a considerable contribution to the country given its growing population and justifies further investment in the growth and development of the startup ecosystem and the entrepreneurs it supports.