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RE: LeoThread 2024-09-30 08:55

in LeoFinance3 months ago

In war-torn Sudan, a displaced startup incubator returns to fuel innovation

Businesses need stability to thrive.

Businesses need stability to thrive. Unfortunately for anyone in Sudan, stability has been hard to come by for the past year and a half as the country quakes amidst a raging civil war. More than 20,000 people have been killed, and about 7.7 million people have been displaced just within the country; millions have had to flee across international borders as refugees.

#newsonleo #sudan #startup #technology

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The article sheds light on the daunting challenges faced by startups in Sudan, a country ravaged by war, and the unwavering dedication of Savannah Innovation Labs, a startup incubator, to continue operating despite the conflict.

The incubator's founder, Yousif Yahya, recounts the harrowing experience of fleeing to Egypt with his family in April when the war broke out, leaving behind their home and business. Despite the turmoil, Yahya remained committed to his vision of building a thriving startup ecosystem in Sudan and resumed operations in the relatively safer provinces of Port Sudan and Kassala.

Savannah Innovation Labs had previously established a startup incubator in Sudan, which had received funding from the European Union and the Italian Agency for Development Cooperation. The incubator aimed to foster entrepreneurship and had taken in over 300 entrepreneurs, providing them with a launchpad and training. The program had also planned to provide equity funding to the 100 finalists of the pitch competition, but due to the war, the funding was changed to grant funding.

Yahya believes that talent precedes investment and that building a strong talent pool is essential for national transformation. To achieve this, he has established networks in neighboring countries, including Uganda, Kenya, and Egypt, to bring together dispersed members of the Sudanese startup community. Savannah has also enabled thousands of people to enter Sudan's startup ecosystem and has fostered several startups, including Sudan's first YC-backed startup, Bloom (now Elevate).

Despite the numerous challenges, Yahya remains optimistic about the potential of Sudan's startup ecosystem. He believes that the country will be a ripe VC market after the war, as many family businesses have been destroyed or bled cash, and the new generation will want to come in and set up funds and advisory firms in the sectors that their family businesses have historically been. This presents an opportunity for startups to fill the gaps and drive innovation.

Yahya's vision extends beyond Sudan, as he aims to bridge capital gaps in untapped markets like Tanzania, Ethiopia, Uganda, and especially those considered risky due to conflict, like Sudan and the Democratic Republic of Congo (DRC). He believes that these markets have the potential to rewrite the framework of what new economies will look like.

In summary, the article highlights the resilience of startups in Sudan, despite the challenges posed by war, and the efforts of Savannah Innovation Labs to continue operating and building a startup ecosystem in the country. Yahya's unwavering dedication to his vision and his ability to adapt to the changing circumstances are a testament to the power of entrepreneurship and innovation in the face of adversity.