As we dive deeper into the 21st century many African countries continue to lag behind economically, hindered by socio-economic challenges and underdeveloped industrial infrastructure.
Entrepreneurship and innovation are key drivers of inclusive economic growth and have been recognised as the spearhead to resolving the difficulties facing the African continent.
For entrepreneurship to thrive, however, it needs to be set within an environment and an ecosystem that supports it’s flourishing. Unfortunately, the African economic ecosystem still faces significant challenges that currently stifle meaningful progress in the growth and expansion of an entrepreneurial culture on the continent.
A New hope
We currently stand at a unique point in history where technology has advanced to the point that it can enable us to reach and unearth many rich veins of untapped potential, ability and skills within the peoples of the African continent.
Never before have we had access to the tools that can accelerate the growth and efficacy of the African ecosystem. Entrepreneurial ventures on the continent need acceleration and technology can be a very powerful vehicle that drives this acceleration.
Entrepreneurs, startups and small businesses now have access to digital technology resources online that can give them the skills and expertise that will catapult them into new dimensions of delivery, effectiveness and market penetration.
The Babson entrepreneurship ecosystem is an analytical framework that looks at all the factors that influence and foster entrepreneurial growth.
These are the generally accepted factors and players that constitute an entrepreneurial ecosystem. When all 6 of these elements are functioning effectively entrepreneurship thrives.
Through the utilisation of digital technology DUYO has played a role in advancing entrepreneurship in South Africa and on the continent in some of these ecosystem avenues.
3 Finance and Investment Support
4 Entrepreneurial Culture
5 Human Capital
DUYO has been involved in designing, writing and implementing world class mentoring and business advisory materials. Through virtual mentorship we have been at the heart of equipping and empowering budding entrepreneurs to make the impact that our economies need.
Because mentors can be accessed virtually now a new group of previously unreachable entrepreneurs can be assisted.
Ecosystems need networks and these can be facilitated through an online community of like-minded entrepreneurs that are in similar stages.
DUYO has managed a project where entrepreneurs were given a platform to connect with and support one another in an online forum.
Although they came from different backgrounds and countries across Southern Africa they were able to find means to do business, partner with and share information amongst one another. It is due to the way the participants were selected and the program that they are undertaking enabled by technology that this mix showed significant gains.
This form of engagement and its results are being continually tracked and is pr
oving to be a valuable vehicle for networking that would otherwise be inaccessible to these participants.
We have found that in online workshops and classes the learning process can be accelerated as the group dynamic inspires greater engagement, interest and enthusiasm than an individual learner would experience trying to learn the material solo.
For any ecosystem to thrive there needs to be access to funds. By using a matchmaking platform to focus on profiling, vetting and connecting entrepreneurs to investors you can solve this problem.
DUYO has designed an online business matchmaking platform that allows its users to do just that.
This is the Landing page of the business matchmaking application that DUYO designed
Finally, in order to thrive an economic ecosystem needs to be embedded within a culture of entrepreneurship and innovation.
DUYO has developed a highschool programme that is designed to inculcate entrepreneurial and innovative mindsets in learners through exposure to successful entrepreneurs who are relatable and can model and espouse the ethos of entrepreneurship.
DUYO is an innovation and design consultancy that is deeply passionate about tapping into the underutilized talent and innovation inherent in Africa’s people. We believe that innovation is made of talent and entrepreneurial behaviour. We work on projects that empower and harness that ability through technology and innovative solutions to achieve inclusive economic growth.
We believe that entrepreneurship can be accelerated through the utilisation of digital technologies and we enable inn
ovation through digital product management and development.
DUYO is eager to play a role in bringing about the convergence of all 6 ecosystem factors that ensure the thriving of entrepreneurship.
DUYO has at its core a belief in the empowerment and upliftment of students and entrepreneurs through training and education. We believe that education is important for innovation and forms the bedrock of a critical thinking mind.
DUYO has been inv
olved in designing new digital product offerings for its clients as well as equipping and empowering startups and entrepreneurs to improve their business operations.