Startups

Exploring new frontiers at the Africa Innovates Conference 2026

Evie Burrows-Taylor — Tue, 21 Jul 2026 14:03:28 +0000

Exploring new frontiers at the Africa Innovates Conference 2026

Evie Burrows-Taylor Tue, 21/07/2026 - 14:03

22 July 2026

This year's themes included reimagining public health in a globalised Africa; Future-proofing infrastructure; Entrepreneurship, business and decent jobs in the age of advanced technologies; Food systems sustainability and nutrition; and Building climate resilience.

Attendees were encouraged to consider how research is conducted in and with Africa, and the event, organised by the Africa Innovates Network, showcased innovative ideas, collaborations and pathways for impact.

Made up of a team of researchers and academics based across the university, the Africa Innovates Network team includes the Business School's Dr Tim Weiss, along with Dr Jessica Thorn, Dr Sunday Popo-Ola and Dr Onesmus Mwabonje.

"With over 150 attendees, this third iteration of the Africa Innovates conference at 51�Թ�� showcased the critical work of 51�Թ�� scientists and their collaborators," Dr Weiss said.

Aiming to bring together research practitioners and policymakers, the conference also attracts a wide audience that includes members of the public, central and local government, public sector, private sector, students and academics from a variety of disciplines.

Africa Innovates promotes internal collaborations between Africa-focused science, policy and education initiatives at 51�Թ�� and build bridges with external partners.

Fostering interdisciplinary dialogue, the event explores innovative ideas around addressing some of the grand challenges that African societies are facing today.

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The annual Africa Innovates Conference aims to address some of the grand challenges facing African societies today.

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51�Թ�� Business School students pitch to investors at London Tech Week

Lou Lee — Mon, 14 Apr 2025 10:15:24 +0000

51�Թ�� Business School students pitch to investors at London Tech Week

Lou Lee Mon, 14/04/2025 - 10:15

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18 June 2026

London Tech Week, held from 8-12 June, is the UK’s premier destination for innovation, collaboration and growth in the tech sector. 51�Թ��’s stand showcased the university’s world-leading research, breakthrough ventures and growing innovation ecosystem through WestTech London, with strong involvement from 51�Թ�� Business School alongside 51�Թ�� Global, the School of Convergence Science, Lifelong Learning, and wider innovation partners. Together, teams championed how 51�Թ�� works with businesses, investors and partners to translate scientific discovery into real-world impact.

As part of the week, student founders from the MSc Innovation, Entrepreneurship & Management (IEM) programme presented at the annual IEM Demo Day – a fringe event that brought together early-stage founders, alumni, investors and the wider London start-up ecosystem.

The Demo Day marked the culmination of a year-long programme in which students develop and refine their ventures, pitching live to a panel of judges and audience of industry professionals.

Tanushri Bhuruk, winner of the IEM Demo Day £1,000 cash grant prize, pitched Enso, a mental health app that helps users better understand their emotions through guided journaling and connect with suitable therapists. The app is already live on the App Store with users across five countries.

Tanushri said: “Presenting my startup was a genuine privilege. Enso came from a personal experience, so to stand in front of such a talented group of founders and have it recognised meant a lot. Winning the prize gave me a real push to keep building with even more energy - proof that what we’re building has an impact beyond just us.”

“There was a palpable energy in the room. For those pitching, this was the moment they moved from being students with an idea to becoming true entrepreneurial teams.”

Andrew Humphries

Entrepreneur in Residence and Module Lead for MSc Innovation, Entrepreneurship & Management (IEM)

Throughout London Tech Week, IEM students also engaged directly with investors, founders and partners at the 51�Թ�� stand, presenting their ventures and receiving feedback from across the start-up community. For many, it was their first chance to test ideas in a live, high-profile innovation environment.

Reflecting on the experience, Andrew highlighted the importance of communication in early-stage entrepreneurship: “I’m constantly surprised by the power of storytelling and creating both an emotional connection and a commercial rationale with an audience. When something is being judged on just a five-minute pitch, you never quite know who will win – and even if you don’t win on the day, you may meet someone who helps move you towards your goals.”

Students gained valuable insights from engaging with industry experts during the week, with many describing the experience as a key moment in developing their ventures beyond the classroom.

Guglielmo Cimolai, an MSc Artificial Intelligence Applications and Innovation student, said: “For me, the best part was the conversations I had in those three days, surrounded by amazing founders building genuinely hard things. I’m thankful to everyone who stopped by to challenge our thinking.”

Solenn Sandberg, an MSc IEM student who reached the final stages of judging, said: “What made this experience even more special for me is that this is an idea I have carried with me for twelve years. What started as a childhood dream became something I had the opportunity to develop.”

The IEM Demo Day and London Tech Week activities form part of 51�Թ�� Business School’s wider experiential learning approach, giving students hands-on opportunities to develop, test and scale ventures in real-world settings.

Andrew described the value of these experiences in helping students transform ideas into real ventures: “This is often when something moves from concept to reality. Talking to potential customers and investors, meeting incubators and accelerators, and stress-testing ideas with experienced voices is what makes the difference.

By embedding student founders within major innovation events like London Tech Week, 51�Թ�� Business School continues to strengthen its role in developing entrepreneurial talent and supporting the next generation of start-ups.

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MSc Innovation, Entrepreneurship & Management

Student founders from 51�Թ�� Business School’s MSc Innovation, Entrepreneurship & Management programme showcased their ventures to investors, innovators and industry leaders at one of the UK's leading technology events.

51�Թ��'s London Tech Week stand at Olympia London

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The hidden cost of startup buzz: how founders and investors can avoid a culture of hubris

Christian Hampel — Wed, 15 Jan 2025 12:14:02 +0000

The hidden cost of startup buzz: how founders and investors can avoid a culture of hubris

Christian Hampel Wed, 15/01/2025 - 12:14

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It’s the dream of many startups: grow aggressively to chase the hype and become a unicorn. However, trying to pull this off all too often turns into a nightmare for founders, employees and their stakeholders alike. Our recent study found that growth-chasing startups risk ingraining a damaging “hubristic culture” – characterised by the sense of being entitled to break rules without caring about consequences.

A hubristic culture often looks exciting to employees but actually damages the company. It leads employees to believe they can do no wrong in the pursuit of growth. This is a recipe for disaster. A report by debtors of failed crypto exchange FTX Trading, for example, blamed its collapse on “hubris, incompetence and greed” (the company’s founder, Sam Bankman-Fried, is appealing his conviction).

Together with Elena Dalpiaz, I have studied hubristic culture in a tech startup that initially achieved hypergrowth for a few years. However, this culture led the startup to adopt harmful behaviours that hurt stakeholders and threatened its very survival until the company embarked on a major reform process. While this turnaround was a success at the time of our study’s conclusion, the company, like many others in the sector, later exited the market due to new regulatory changes. This has helped make the case for broader volatility of the industry rather than undermining the impact of cultural reform.

Red flags in startup culture

We found that one major red flag for a hubristic culture is when startups pursue growth at all costs. This is problematic because employees believe it does not matter how their growth-chasing actions affect stakeholders. Consequences of this can include: regularly letting customers down during the hypergrowth; getting ever more regulatory fines; and receiving increasingly hostile coverage on key (social) media channels.

Another major red flag for a hubristic culture is a specific type of excitement shared among the startup’s employees: what we call “antagonistic excitement”. This is the enthusiasm to operate in opposition to outside norms. For example, an employee of the tech company we studied was thrilled when masses protested the company’s rule-breaking: “we were getting attacked […] You live off that adrenaline”.

Getting excited about breaking rules and about receiving external criticism is dangerous because employees risk losing moral awareness, i.e. the ability to care about (not harming) the outside world.

How to build a sustainable startup culture

How do startups avoid the trap of a hubristic culture? First, by focusing the team on pursuing growth that can be sustained over the long-term, rather than seeking growth at all costs. This forces employees to pursue growth that fits with society because only this is sustainable over time.

Second, it’s important to banish antagonistic excitement. Whereas excitement about the startup’s mission and about any constructive plans can be very positive, what stores up trouble is fostering excitement about breaking rules and getting criticised. It’s important for startups to emphasise that, amid all the excitement, the pursuit of growth should not endanger the well-being of others.

Hubristic cultures in startups are initially intoxicating for employees but they are ultimately toxic for everyone. When startups collapse, founders, investors, employees and stakeholders are all harmed. It’s important that hyped companies fix a hubristic culture before it’s too late. This gives them the chance to build a company that will last, rather than becoming a cautionary tale for the next excitable startup.

This article draws on findings from the Journal of Business Venturing article “When Hype Collides with Morality: How Entrepreneurial Framing Affects the Behavior and Legitimacy of Hyped Ventures” by Christian E. Hampel (51�Թ��) and Elena Dalpiaz (USI Lugano).

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Grounded in new research, this article reveals the warning signs of “hubristic culture” and offers practical strategies to foster sustainable growth

Main image: Nuthawut Somsuk / iStock via Getty Images Plus

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Business School MSc graduate Alvia Dibby Shadqah speaks to the Financial Times about life as a female entrepreneur

Evie Burrows-Taylor — Mon, 09 Sep 2024 11:28:25 +0000

Business School MSc graduate Alvia Dibby Shadqah speaks to the Financial Times about life as a female entrepreneur Evie Burrows-Taylor Mon, 09/09/2024 - 11:28

4 September 2024

"Lessons from the last three years in venture capital": MBA alumnus Kjartan Rist writes in Forbes

Evie Burrows-Taylor — Mon, 26 Feb 2024 09:56:42 +0000

"Lessons from the last three years in venture capital": MBA alumnus Kjartan Rist writes in Forbes Evie Burrows-Taylor Mon, 26/02/2024 - 09:56

20 February 2024

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How to survive as an entrepreneur: insights from Steve Blank

Evie Burrows-Taylor — Tue, 13 Feb 2024 11:47:09 +0000

How to survive as an entrepreneur: insights from Steve Blank

Evie Burrows-Taylor Tue, 13/02/2024 - 11:47

15 July 2026

We sat down with world-renowned entrepreneur Steve Blank to talk about the significance of the lean startup movement, how generative AI will revolutionise the business landscape and what leaders need to do to survive the changes ahead

Famed for his founding role in the lean startup movement, Steve Blank, now an adjunct professor of entrepreneurship at Stanford, has also co-created the 51�Թ�� Wicked Module at 51�Թ�� Business School. The class teaches students to use lean startup tools to address “wicked” problems that have multiple moving parts and no obvious solution, such as insurgencies, disinformation and climate change.

We spoke to Steve about the significance of his work and the biggest challenges and opportunities facing today’s entrepreneurs.

Why was the lean startup movement such a widespread sensation?

Lean’s biggest insight was observing that startups are not smaller versions of large companies and, while large companies execute business models, startups search for them. For the business world, it was like discovering an entirely new continent.

We had built tools for executing an existing business model, but we had absolutely nothing when it came to searching for them, including the understanding that it needed to be done.

My work, along with that of Eric Ries and Alexander Osterwalder, formed the beginnings of the Lean Movement. I remember going to some of the best business schools in the world and people saying: “How hard can [running a company made up of] six people in a garage be?” But I deeply understood just how hard the startup setup was.

How will generative AI impact entrepreneurship?

The impact on entrepreneurs will be enormous: they’ll be able to use data to look at what people in certain demographics want and use generative AI to come up with product ideas, websites and even pivots.

Now, if I’m in healthcare and the NHS decides they want to make money, I could take all the health data I have about everybody in the UK and start figuring out how to do it using AI models. If I was an entrepreneur today, I would be working on a piece of enterprise software to create an end-to-end platform for using AI in building startups.

What innovation challenges are unique to today’s businesses?

Large organisations are designed for repeatable and scalable processes. This works well when your business environment is relatively stable, or your competitors have the same resources as you.

These days, you’re competing with smaller companies designed to move rapidly and take risks, and that’s hard to sustain. Companies adopting startup methods often end up with innovation “theatre”, rather than innovation delivered. Carving out an innovative path requires committed leadership, culture and process change.

What is the most common mistake you see startups making?

Entrepreneurs have the passion to come up with an idea, execute it and then expect to stand back and see all the orders rolling in. That almost never happens.

The phrase I keep repeating after two decades: there are no facts inside the building, so get the heck out. When I taught the 51�Թ�� Wicked Module at 51�Թ��, I told students how important it is to talk to customers and listen to the data.

How do you think large corporations can overcome challenges with agility?

It really starts with the leadership team agreeing that execution pays your salary, but innovation pays your pension. Then deciding whether they're willing to make the changes necessary to provide a parallel pathway for innovation.

However, the worst thing you could do is make the entire company about innovation and put the core business at risk. My first mantra to CEOs is: whatever you do, protect the core.

How can leaders ensure they stay relevant?

If I was a CEO, I'd ensure I was thoroughly educating myself about the changes in my sector. If you don’t understand the relevant technology, supply chain, manufacturing et al and its implications, it would be like a CEO at the turn of the century not understanding manufacturing in China.

Lifelong learning plays a large role in figuring out how to keep CEOs continually engaged in new methods, tech, challenges, as well as global opportunities and threats.

Steve Blank returns to 51�Թ�� Business School as a featured speaker at the 6th International Wicked Symposium in July 2026.

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Wicked Problems, System Dynamics & Entrepreneurial Innovation: 11 June – 12 July, 2024

The 51�Թ�� Wicked Module is a one-month programme for 51�Թ�� Business School students, where we will introduce participants to a unique set of frameworks, approaches, and tools curated to address 'wicked problems".

Experimentation in business: 3 ways to avoid the hidden risks

Experimentation is key to platforms improving their services – but this is often carried out in secret and can have disastrous unintended consequences.

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"Better than the real thing?": The European publishes article by Dr Jan-Michael Ross on imitation

Evie Burrows-Taylor — Mon, 18 Sep 2023 15:16:22 +0000

"Better than the real thing?": The European publishes article by Dr Jan-Michael Ross on imitation Evie Burrows-Taylor Mon, 18/09/2023 - 15:16

30 July 2023

Imitation: the new key to business success

Jan-Michael Ross — Thu, 16 Mar 2023 11:56:39 +0000

Imitation: the new key to business success

Jan-Michael Ross Thu, 16/03/2023 - 11:56

20 March 2023

In the business world, as elsewhere in life, copying is frowned upon. Yet, in some cases, it has been responsible for inspiring business leaders, creating new markets and, most surprisingly, driving innovation

"Copycat" is a term loaded with judgement and businesses tend to look down on any kind of imitation as a weak and limiting strategy. According to received wisdom, an imitator can only be as good as, never better than, the real thing – just as a tribute band is bound to peddle the same old material without the original spark.

Our research attempts to set the record straight on this blinkered and outdated view. Imitation is rife throughout commerce – and has been applied widely – from floor mops through to consumer technology and services. Used deftly, imitation can speed up the pace of change, spark innovation and leverage creativity.

Back in 1966, Harvard economist Professor Theodore Levitt pointed out that we “often mistake innovation for what is really imitation”. More than 40 years later, the equally revered Stanford Professor James G. March observed “imitation probably represents the majority of what is normally called innovation”.

Big companies stay ahead by imitating smaller rivals; startups fast track their experience by looking at competitors’ strategies, sometimes sharing insights and successes. Investors prefer startups that borrow from tried and tested technology and experience rather than putting their cash into riskier novel ventures.

But imitation as a business strategy doesn’t inspire; LinkedIn isn't awash with entrepreneurs declaring themselves to be leading imitators in their field. We idolise what is new and creative without acknowledging the debt owed to existing business. But if leaders can recognise the importance of imitation, they can limit blind spots and get the upper hand.

Imitation is more than simply copying: it might mean emulating products and processes, a firm’s technologies and resources, or even structures and strategies.

Used deftly, imitation can speed up the pace of change, spark innovation and leverage creativity.

Take the fashion chain Zara, which pioneered the extremely successful business model of swiftly copying designer brands for a fraction of the price, and putting clothes on sale at carefully selected locations. Enter challenger Shein, which has stolen the rug from under brands like Zara by producing on-trend clothes available online in under a week at rock bottom prices. This has resulted both in meteoric growth and flurries of copyright complaints. But, in turn, new challengers from China are poised to oust Shein with superior offers. Whatever your view of fast fashion, in this case imitation has created a new market.

There are at least three main misconceptions about imitation that are worth challenging:

1. Imitation is weak

Mightier firms often compete with, and draw upon, the experiences of smaller players. They’re often successful because their superior muscle power allows them to exploit innovations. Take P&G’s "breakthrough" quick mop, the "Swiffer", which was an instant hit when it launched in 1999, and has since generated millions of dollars. A similar product was already sold in Japan, which P&G says it tweaked and improved.

There are other instances of corporate giants introducing products or features bearing a resemblance to competitors’ earlier efforts: at its launch in 2001, the Apple iPod bore a close physical resemblance to the Diamond Rio, the world’s first digital audio player launched four years earlier. More recently, Meta launched Facebook products resembling Snapchat and TikTok features.

In the right climate, imitation benefits even the heftiest players. Imitation can be an effective defensive strategy for a leader, as illustrated by our analogies with competitive sailing in earlier research.

2. There’s only one way to imitate

We tend to assume that imitation is a binary choice, a simple "yes or no" decision, but choosing when, how, what and who to imitate requires skill and judgement. Sometimes it pays to integrate disparate elements to create something new – and then imitation becomes creative. Timing can be critical too: is it better to wait until a new product or service has bedded in or move swiftly? Speed can influence how competitors respond and creates its own market dynamic.

3. Imitation is easy

Business leaders fall into the trap of believing that imitation is a simple cut and paste option, which doesn’t do justice to its complexity. Technologies and services might be opaque or secretive and, as a result, difficult to copy. To imitate well, a company might require superior resources such as supply and distribution networks. Or, it may not be obvious which element gives a brand its competitive edge.

For example, consumers might be choosing a beer for its flavour over its packaging, but if rival firms don’t understand what’s driving consumer preferences, they might imitate the wrong thing. And then there are occasions when it suits businesses to encourage imitation by others – it might boost customer numbers, help establish and legitimise goods or services, or even help firms keep an eye on the opposition and limit risk.

While these assumptions may be true in some instances, they don’t do justice to the more complicated reality. To underestimate the power of imitation is a business opportunity missed and, as a business tool and tactic, imitation risks being overlooked. With a deeper understanding of how imitation helps businesses and sectors evolve – as seen in fast fashion, personal computing and more – it can become a source of inspiration, as well as nudge companies to push boundaries and speed up the pace of innovation.

This article draws on findings from "Reconceptualizing Imitation: Implications for Dynamic Capabilities, Innovation and Competitive Advantage" by Hart E. Posen (University of Wisconsin-Madison), Jan-Michael Ross (51�Թ�� London), Brian Wu (University of Michigan), Stefano Benigni (51�Թ�� London) and Zhi Cao (University of Nevada, Las Vegas).

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How to adapt your business in a crisis

In times of crisis, companies tend to respond by downsizing their operations. But instead, they should be taking stock and considering opportunities for innovation, so they can emerge stronger during the recovery.

MSc Innovation, Entrepreneurship & Management

MSc Innovation, Entrepreneurship & Management is designed to equip graduates with the skills to become entrepreneurs or lead innovation from within companies. Apply today!

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How to scale up in an emerging market

Tim Weiss — Mon, 04 Jul 2022 09:30:11 +0000

How to scale up in an emerging market

Tim Weiss Mon, 04/07/2022 - 09:30

4 July 2022

Growing a business is always difficult but scaling up in an emerging market is even harder – luckily, a new form of entrepreneurial support is here to help

Launching a business is certainly a challenge, but sustaining it and scaling up – especially in the aftermath of a global pandemic – is something else entirely. And doing so in an emerging market, without much of the support that entrepreneurs elsewhere enjoy, adds another layer of complexity.

There is no shortage of incubator and accelerator programmes, and funding opportunities for entrepreneurs, but once the short-term relationship is over and a startup is in the throes of growing its business, the support often ends, leaving a huge gap.

Cue "pacers": a new breed of entrepreneurial support organisation offering intensive, long-term, needs-driven support and a trust-based peer community. Pacers or pacemakers take over once the incubators and accelerators have done their job, supporting entrepreneurs and responding to whatever unexpected business crises occur. Like pacers who help world-class marathon runners win races, pacemaker organisations help entrepreneurs achieve their goals in the marathon of scaling up an enterprise.

There are some key components of the pacer model which offer unique benefits to entrepreneurs:

Continuous learning, providing a range of courses which address specific business challenges that entrepreneurs may require as they strive for growth and scale up their business.
Extended business networks, globally, locally or by industry. This type of membership network is a key asset in the long-term support provided by pacers.
Meaningful peer connections based on trust, openness and honesty. A successful pacer facilitates and maintains an in-depth and meaningful level of peer engagement.
Demand-driven support that meets the needs of the individual pacer community. This requires agility, and a range of programmes that evolve to match the community’s changing needs.

Effective pacers are already being modelled in many countries around the world. Stanford Seed is active in 29 countries in Africa and South Asia. It offers a combination of courses delivered by Stanford University faculty and offers access to mentors, consultants and interns. Elsewhere, organisations like the Harambe Entrepreneur Alliance – founded in 2008 and now with 327 members – offers African entrepreneurs the opportunity to become Harambeans, tapping into powerful knowledge, resources and networks to make a positive impact on the African continent.

The Entrepreneurs’ Organisation is active in 60 countries and has more than 211 active, local chapters. It has created small, intimate peer-to-peer groups that help entrepreneurs build deeply trusted and meaningful relationships locally and beyond borders. Endeavor operates in 40 emerging markets and offers intensive investment, business development, and market expansion support. In return, members commit to giving back, by supporting established and upcoming members. Other pacers leading the way include Unreasonable Group and the African Management Institute, and the list keeps growing.

Adopting and developing the pacer model

Pacemakers clearly help businesses in emerging markets to scale up through the inevitable rollercoaster of growing a business. But the pacer model is new and remains unformalised, having developed in a self-directed and organic way. How can we encourage the various market players – entrepreneurs, support organisations and investors – to adopt this model more widely, across more countries and markets?

Entrepreneurs need to choose the support programmes they apply to wisely and are well advised to tap into the opportunities for scale that pacers make available. However, as the Chairman of Entrepreneurs’ Organisation so eloquently puts it: pacers are a gym not a spa, meaning members get something out of it only if they are willing to put in the work.

Pacemaker organisations help entrepreneurs achieve their goals in the marathon of scaling up an enterprise

More traditional entrepreneurial support organisations should consider adopting some of the practices of pacers. This will require some changes: cultivating an engaged community of members rather than just an alumni programme, creating lifetime benefits, focusing on the evolving needs of their member community and finding cost-effective ways of continuous knowledge transfer.

Investors can play a key role in driving successful pacers to the next level, by teaming up with pacers to provide more effective investment vehicles and investing in their members. It will be exciting to see how the pacemaker model adapts and develops, and the role it plays in growing entrepreneurial businesses at scale, particularly in emerging markets.

This article draws on research explored in "Pacing Entrepreneurs to Success" by Sonali V. Rammohan (Stanford Graduate School of Business), Tim Weiss (51�Թ�� London), Darius Teter (Stanford Graduate School of Business) and Jesper B. Sørensen (Stanford Graduate School of Business).

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What African tech startups can teach us about digital innovation

The African tech startup landscape is undergoing radical change, but what is helping certain businesses thrive in this new environment?

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What African tech startups can teach us about digital innovation

Tim Weiss — Fri, 13 May 2022 12:26:49 +0000

What African tech startups can teach us about digital innovation

Tim Weiss Fri, 13/05/2022 - 12:26

16 May 2022

The African tech startup landscape is undergoing radical change, but what is helping certain businesses thrive in this new environment?

During the last decade, the African continent has pushed the frontiers of digital innovation, providing new choices for consumers and fresh landscapes for startups. More than 600 technology hubs now welcome mostly young entrepreneurs, with some startling successes. On top of which, the pandemic has accelerated digital takeup, allowing some ventures to leapfrog innovation cycles.

The latest figures show some $4 billion of investment was funnelled into African tech startups in 2021 and six unicorns have emerged on the continent. But what makes certain tech businesses flourish in these unique circumstances? To answer this, we need to consider several questions, such as:

Does it matter if founders’ expertise is homegrown or acquired away from the African continent?
Should business models answer local problems or replicate international templates?
Should services be built from scratch rather than outsourced?

We’ve encountered many businesses that have navigated national, regional and pan-African landscapes to scale with success, and explored what underpins their growth.

Accelerating growth

Our assessment reveals a plethora of different scaling models being used by tech startups on the African continent. Take Kenyan company OKHi, for instance, whose technology allows users who don't have a physical address the chance to create a "smart address". This tech solution also answers a problem for Nigerian banks. Nigerian digital payment unicorn Interswitch, for instance, had to verify the identity of new customers with a time-consuming visit in person. Now, OkHi’s technology promises to help Interswitch solve the “know your customer” problem digitally.

The African continent has pushed the frontiers of digital innovation

We also looked into whether the Silicon Valley model works in African economies, with some examples suggesting it does. Successful fintech startup Paystack, founded by two Nigerian entrepreneurs, was acquired by US fintech venture Stripe for $200 million. Founders of both companies were part of the same cohort at Silicon Valley-based accelerator Y Combinator, where they forged valuable relationships, with Stripe becoming an early investor in Paystack.

Founders from African countries have also used US entrepreneurial support organisations to accelerate their growth. For example, Nigerian health tech company 54gene, founded by 51�Թ�� graduate Abasi Ene-Obong, is pursuing rapid expansion, drawing upon mature funding mechanisms and strong international networks.

Entrepreneurial success

But what mix of local and international entrepreneurs makes for a successful startup? Kenyan startup Twiga, created by both Kenyan and expat founders, has become one of Kenya’s most celebrated success stories. The business has leveraged digital technologies to build supply chains for retail distribution, allowing smallholder farmers to bypass fragmented food supply chains.

Kenyan founder Peter Njonjo, who previously worked for Coca-Cola, brought his expertise in local supply chains and logistics, while US founder Grant Brooke had a background in strategy and finance. This mix has boosted the company’s rapid growth since its foundation in 2014 – to date it has raised $157 million.

Some startups have created their own solutions in the absence of such services or options to contract out. There’s Kenya-based Mdundo – a Spotify-style music streaming provider – which got around the absence of copyright deals by signing each artist individually, and by upholding and defending legal infrastructure.

Adopting emerging technologies

We also considered whether where a company is first founded matters, looking specifically at two main models. Kenyan tech firm Cellulant, for example, has expanded from a ringtone provider to a digital finance business operating in 34 African nations. This is a home-grown venture, headquartered on the continent, and equipped with a deep understanding of how to navigate different national institutions.

By contrast, some global tech firms leverage mature investment environments in Western economies and operate largely on the African continent. The drone startup Zipline, for instance, is based in San Francisco and has raised more than $200 million, but mostly tests its model of drone-delivered medical supplies in Rwanda and Ghana.

Our study of scaleups on the African continent suggests change is on the horizon, with impending reforms and opportunities. For example, the ambitious African Continental Free Trade Agreement offers African nations a chance to cut out the red tape and could be transformative. Some countries are committing to adopting emerging technologies, with strategies to usher in artificial intelligence. And access to entrepreneurial finance is increasing, encouraged by maturing financial markets, such as the proposed joint stock market between Uganda, Tanzania and Rwanda. As a result, the next decade could spell opportunities for digital growth on a scale the continent has not yet seen.

This article draws on findings from "Scaling technology ventures in Africa: new opportunities for research" by Tim Weiss (51�Թ�� London), Markus Perkmann (51�Թ�� London) and Nelson Phillips (University of California).

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Profile: Markus Perkmann on how academia and businesses can successfully collaborate

51�Թ�� Business School's Professor of Innovation & Entrepreneurship on the difficult relationship between scientific research and the industries that want to profit from it.

18 February 2020

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Exploring new frontiers at the Africa Innovates Conference 2026

Exploring new frontiers at the Africa Innovates Conference 2026

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The annual Africa Innovates Conference aims to address some of the grand challenges facing African societies today.

51�Թ��� Business School students pitch to investors at London Tech Week

51�Թ��� Business School students pitch to investors at London Tech Week

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Student founders from 51�Թ��� Business School’s MSc Innovation, Entrepreneurship & Management programme showcased their ventures to investors, innovators and industry leaders at one of the UK's leading technology events.

The hidden cost of startup buzz: how founders and investors can avoid a culture of hubris

The hidden cost of startup buzz: how founders and investors can avoid a culture of hubris

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Decentralised Autonomous Organisations rethink the role of bosses. But who really has the power?

Do big bonuses really affect employee behaviour?

Why making AI too easy to use is a risk for business

Read about the research

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Grounded in new research, this article reveals the warning signs of “hubristic culture” and offers practical strategies to foster sustainable growth

Business School MSc graduate Alvia Dibby Shadqah speaks to the Financial Times about life as a female entrepreneur

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"Lessons from the last three years in venture capital": MBA alumnus Kjartan Rist writes in Forbes

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How to survive as an entrepreneur: insights from Steve Blank

We sat down with world-renowned entrepreneur Steve Blank to talk about the significance of the lean startup movement, how generative AI will revolutionise the business landscape and what leaders need to do to survive the changes ahead

Why was the lean startup movement such a widespread sensation?

How will generative AI impact entrepreneurship?

What innovation challenges are unique to today’s businesses?

What is the most common mistake you see startups making?

How do you think large corporations can overcome challenges with agility?

How can leaders ensure they stay relevant?

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Wicked Problems, System Dynamics & Entrepreneurial Innovation: 11 June – 12 July, 2024

Experimentation in business: 3 ways to avoid the hidden risks

"Better than the real thing?": The European publishes article by Dr Jan-Michael Ross on imitation

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Imitation: the new key to business success

In the business world, as elsewhere in life, copying is frowned upon. Yet, in some cases, it has been responsible for inspiring business leaders, creating new markets and, most surprisingly, driving innovation

1. Imitation is weak

2. There’s only one way to imitate

3. Imitation is easy

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How to adapt your business in a crisis

MSc Innovation, Entrepreneurship & Management

How to scale up in an emerging market

Growing a business is always difficult but scaling up in an emerging market is even harder – luckily, a new form of entrepreneurial support is here to help

Adopting and developing the pacer model

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What African tech startups can teach us about digital innovation

What African tech startups can teach us about digital innovation

The African tech startup landscape is undergoing radical change, but what is helping certain businesses thrive in this new environment?

Accelerating growth

Entrepreneurial success

Adopting emerging technologies

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Profile: Markus Perkmann on how academia and businesses can successfully collaborate

51�Թ�� Business School students pitch to investors at London Tech Week

51�Թ�� Business School students pitch to investors at London Tech Week

51�Թ�� Business School academics take to the stage in Lisbon

51�Թ�� launches UK’s first master’s degree focused on AI’s economic and policy impact

Student founders from 51�Թ�� Business School’s MSc Innovation, Entrepreneurship & Management programme showcased their ventures to investors, innovators and industry leaders at one of the UK's leading technology events.