The Startup Ecosystem of Rwanda

The government is well aware of the importance of startups to the future of the local economy, and has established one of the most independent and strategically thoughtful efforts to do so in Africa using several key support programs. For instance, investor and entrepreneur visas for IT-related activities have made Rwanda an attractive relocation option for entrepreneurs in the region. Another initiative to improve tech talent is the Smart Rwanda 2020 Master Plan, which is set to increase the number of digitally skilled workers. Thanks to the Rwanda Development Board’s initiatives, the country can offer business support in areas such as financial incentives for national and international investors and a procedure to register a business within a day. In the near future, the ecosystem will become even more attractive for startups.

The Rwandan startup scene attracts the attention of the private sector and the international community as well. For example, the Norrsken Foundation opened an entrepreneurship hub in Kigali, while Co-Creation Hub partnered with Google and the Mojaloop foundation to launch the Fintech Innovation Project. Other active stakeholders in the ecosystem include Impact Hub Kigali, KLab, and 250Startups. The Kigali Innovation City (KIC) project secured support from the Arab Bank for Economic Development in Africa (BADEA), and the Rwanda Innovation Fund opened its offices in Kigali. It’s no wonder the country managed to deliver several startup successes, including CarIsoko, Zipline International, Awesomity Lab, IsokoNow, and Yapili. However, Rwanda still has major challenges, like developing its infrastructure and setting up VCs and other funding options to become a regional hub.