TECHBLET
South Africa Is Ranked 50th Position among Global Startup Countries
Regardless of a small fall in the global start-up ecosystem rankings, SA was able to maintain its position among the top 50 African country start-up nations.
This was discovered on the StartupBlink’s Global Startup Ecosystem Index 2022, which shows SA’s status going down by one spot this year to 49th globally.
The StartupBlink makes use of several sources of data to put together its index, as well as governments, economic development organisations, municipalities, start-up-related entities, as well as the global data partners, such as SEMRush, Crunchbase and Meetup.
In a contrast, SA ranked 48th in 2021, which was a step up from the previous ranking of 52 in 2020 and 51 in 2019, the information was previously noted. It was usually Published annually as of 2017, in the ecosystem index ranking on the global start-up scene of 100 countries, in addition to their most innovative 1000 cities.
Though yet with the decline to 49th this year, SA still keeps up its spot as the first and only country in Africa in the world’s top 50 since the first release of the catalogue in 2017, states the report.
“South African start-up ecosystem is among the most promising one on the continent,” it specifies that “With economically booming cities like Cape Town and Johannesburg. The SA has a lively, private-sector-led start-up scene.
“With Naspers investing deeply in South African tech entrepreneurs, and VCs like Knife Capital committed to funding start-ups, SA has seen a lot of growth in its start-up ecosystems.
“The Silicon Cape Initiative, Endeavour South Africa and Digital Collective Africa have been some of the main enablers & promoters driving this growth.”
In spite of the pace the country’s start-up ecosystem is producing, the StartupBlink report that SA still facing some amount of challenges, as well as a lack of angel investors and a brain drain.
“Going forward, South Africa’s start-up founders & entrepreneurs need to focus on creating scalable business models that target the international market,” in it comments.
According to a report, the ranking consequence for some cities in Africa and in the Middle East was less optimistic, as the number of cities representing the area decreased to 57, compared to 74 cities the previous year.
Within the top cities status results, only Lagos managed to get into the world’s top 100, which makes it to be the only African city to ever reach this rank. Nigerian capital city attained the 81st position.
In the case of South Africa, the only two major start-up cities Cape Town and Johannesburg show a negative momentum this year, discloses the report.
Wesgro, which was the official tourism, trade and investment promotion organization for Cape Town and the Western Cape, previously stated the Cape Town Stellenbosch passage contains about 450 tech firms and employs more than 40,000 people, which makes the ecosystem bigger than Nairobi and Lagos combined together. Cape Town, which usually emerges as the tech centre surrounded by the Sub-Saharan Africa region, reduced by two spots to 147th globally. In the previous year, the Western Cape capital city’s ranking was about 145 globally.
South Africa Is Ranked 50th Position among Global Startup Countries
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