Somalia has 2 cities in the top 1000 and is one of Eastern Africa’s best countries for setting up a startup.
Somalia’s startup scene remains stable in 2023 on the 98th position, having gained 1 more city in the global top 1000.
Somalia is a surprising example of innovation flourishing under tough economic and geopolitical circumstances. With some stability restored over the last decade, Somalia has a strategic location at the horn of Africa and routes through the Red Sea and Suez Canal.
Although Somalia is still an ecosystem in the seed stage, we were inspired to see how the public sector, local entrepreneurs, and international organizations have worked hard to foster disruptive innovations aimed at solving some of the country’s biggest problems. In particular, women entrepreneurs play an important role in the economy of Somalia, as they own almost half of the businesses. The innovative potential of the country is supported by local and international organizations such as Innovate Ventures, VC4A, and the Response Innovation Labs.
As a country that finds itself on a major transformation path, Somalia has a number of reforms to tackle and several challenges to address. These challenges aren’t only financial but also have to do with building infrastructure and changing both the country’s narrative and mentality when it comes to entrepreneurship. We look forward to seeing how these reforms will be implemented in the coming years and the positive impact they will have on Somalia’s startup scene.
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The health check tables allow you to look at the performance Somalia has in each of the parameters that are part of StartupBlink's ranking algorithm. There are five tables, corresponding to the three subscores, the subscore analysis and industry ana...
Somalia is ranked within the top 100 startup ecosystems globally.
Somalia’s startup scene is best represented in Energy & Environment, Software & Data, and in and Fintech.
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The Global Startup Ecosystem Index (GSEI) reveals the startup ecosystem rankings of 1,000 cities and 100 countries based on various factors. It uses an algorithm that considers many parameters and incorporates data from different sources and partners such as Crunchbase, SEMRush and Statista. The results of this index are also integrated with the StartupBlink Global […]
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