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Kenya

The Kenyan startup ecosystem is on the move. It is a leading hub for entrepreneurship on the continent thanks to several strengths, including a growing number of engaging international investors, a huge population with access to technology, and a growing number of startup support organizations active in the ecosystem.

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Venture Finance in Africa Research

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 1,333 ventures registered in the country shows a clear relationship between venture performance and the support these ventures receive from the Kenya startup ecosystem. For example, 50% of the companies participating in ecosystem support programs secure investment. Even more interesting, the average investment secured is almost 6 times higher for the ventures receiving ecosystem support: USD $191K vs USD $34K. These companies are also more likely to create new jobs.

More specifically, 72% of the Kenya ventures are creating jobs with an average of 5.5 FTE per venture. When taking a further look at the age groups, 72% of them are between 12 and 35 years which is a little below the percentage on a pan-African scale (60%). 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.

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