Africa-Press – Namibia. OUT of 100 countries ranked by Start-UpBlink, Namibia has taken 91st place – an improvement of eight places from its 99th-place ranking last year.
Windhoek was ranked the 700th most accommodating city in the world to start-ups, having skipped 156 spots up.
This improvement is good news and indicative of work being done to improve the ecosystem for upcoming Namibian entrepreneurs, StartUp Namibia’s Jesaya Hano-Oshike says.
“The progress of Namibia in the global start-up rankings reflects positively on the work ecosystem players, such as StartUp Namibia, have been doing over the last couple of years to support Namibian start-ups to start and grow,” he says.
Start-UpBlink ranks countries and cities according to how accommodating they are to newly established small companies and start-ups.
These rankings are published every year in the Startup Ecosystem Report, and 2022 is the year of global start-up ecosystem uncertainty, says Eli David, StartupBlink’s chief executive officer.
Despite the challenges, David says entrepreneurs do not owe any hostile environment their hard work.
“Choose your start-up ecosystem wisely as it greatly affects your chances of success. Where you are matters,” he says.
He says entrepreneurs will never realise the price of being in the wrong ecosystem, since missed opportunities are hidden, but abundant if the right place is picked.
“If you are in the wrong ecosystem, leave it or lead it. Do not stay passively isolated in a place that is underperforming,” he says.
Many African bright minds have been emigrating to cities where entrepreneurship is valued and appreciated, mainly in the the West.
David says government ecosystem developers should note that while some governments have been inspirational, other governments are much more timid, quietly watching the tragic brain drain of their most ambitious and talented citizens.
“The consequences to the well-being of these communities and future economies are vast. Take action to build your start-up economies and leverage your unique advantages. It’s never too late to start, so start now,” he says.
The 100 elite list is topped by the United States (US), United Kingdom, and Israel, followed by Canada, Sweden, Germany, Singapore, Australia, France and China ending the top 10.
A total of 1 000 cities were ranked, and topping that is San Francisco in the US, New York, London, Los Angeles, Boston, Beijing, Shanghai, Bangalore, Tel Aviv area, and Paris taking the 10th place.
Namibia ranks 91st in the world, and Windhoek is the 700th most-accommodating city in the world.
According to Hano-Oshike, this means more needs to be done.
“There is, however, still a great deal of work to be done, especially within the areas of early stage financing and market access. If these areas are addressed, I believe Namibia can be one of the leading start-up nations in Africa,” Hano-Oshike says.
In southern Africa, Namibia ranks second just after South Africa, and 11th on the continent.
Regionally, Windhoek is ranked fifth in southern Africa, and 22nd in Africa.
In response to the results of the Index, Namibia Investment Promotion and Development Board chief executive Nangula Uaandja said start-ups are instrumental in the economic growth of any nation, more specifically Namibia.
The World Bank found that for a growing economy, the establishment and support of start-ups will generate revenue domestically, where consumers’ capital will flow around in Namibia’s local economy.
Start-ups have the ability to change the world by innovating and being creative to the demands of not only our nation, but the interconnected planet.
“Developing one’s idea into a start-up and contributing to our economy will create much-needed employment opportunities, which is fundamental for a private-sector led economy like Namibia,” she says.
Notable start-ups in Namibia according to StartupBlink are Jabu Logistics, Lefa and EBikes4Africa.
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