(1/) #unicorns and where less obvious opportunity in #AfricaTech might hide…
#India produced +35 #unicorns in 2021. While the number is staggering, it's much more interesting to see in which verticals value was created and what one can learn in relation to. Hold on #deepdive:
(2/) 38% #eCommerce. Many in #B2B (not just food and retail). Starting to see some unique & alternative models in continent, but a long way to go. Weaker manufacturing infrastructure and fragmentation makes it more challenging. Could be huge wins for those who crack this one up.
(3/) ~14% #fintech. Not just flashy #neobanks. Helping small merchants accept cash, SMEs and services manage subscriptions and of course access to credit shine above.
(4/) ~7% #EdTech. Accounting for 2018-2020 – even a bigger share. Mind boggling why not yet more innovation and tech across this sector in ‘Africa. High and qualified spend, perceived as a true need, a lot to be done.
(5/) ~7% #EnterpriseSoftware. Longer journeys, but the ability to convert with or acquire developing markets consumers requires true innovation. #Massive potential upside, very acquisitive space, but requires deep tech and long R&D and sales (B2B) cycles most of the times.
(6/) ~5.5% #Insuretech. See Health tech, but harder to implement as it requires massive market education. A lot of ground to cover – but huge potential in this one.
(7/) ~5.5% #Crypto. Say no more. Not Crypto as crypto, but giant space to innovate on blockchain / web 3.0 and crypto, with #Africa being one of the fastest global adopters of that.
(8/) Should be higher up on the list: Logistics (to better support eCommerce) and Agri (hard to crack business models, my bet is a few on this list in 2-3 years, mark for reminder…).
(9/) While not conclusive, and of course #Africa and #India are not much alike, its and interesting prism to think through what some markets with several similarities on spend power, basic services penetration and digitisation of some verticals...
(end/) that started #TechRevolution a few years earlier are building and implementing fast. Happy to hear more thoughts…
#AfricanTech #AfricaVC #WhereOpportunityLies #WhatsNextForUs

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