The collaboration between Europe and Africa on supporting small business start-ups is ushering in a new era of EU-Africa cooperation on innovation. This initiative, driven by the ENRICH in Africa (EiA) Centre, aims to foster stronger links between innovators and investors across both continents. With a network of 80 partners spanning all EU and African countries, the EiA Centre provides a bridge for entrepreneurs, start-ups, and SMEs, connecting them with business incubators and accelerators. This effort is part of the broader African Union (AU)-EU Innovation Agenda, which seeks to translate support for innovation and research into tangible benefits for people in the form of real products, services, businesses, and jobs.
Strengthening Business Connections
From her offices in Cape Town, South Africa, Zandile Ntuli is on a mission to improve the connections and investment between the business communities in Africa and Europe. Three years ago, she pivoted from her corporate executive role to focus on start-ups. Today, she leverages her corporate skills to enable small businesses from both continents to thrive. The EiA Centre, which she manages, is a spin-off and legacy of an EU-funded project that ran from 2021 to mid-2024. Through its website, businesses can register their interest and identify their needs, whether that’s access to new markets, funding, or business support.
One success story is Safetrade101, a French financial services platform focused on supporting African SMEs. Through one of EiA’s networking events, it extended its operations to South Africa and subsequently to Cameroon. Other collaborations are emerging, with European companies investing in Africa and African firms expanding into Europe. This initiative is seen as a significant opportunity for growth by improving the connections and investment between the business communities in Africa and Europe.
Untapped Potential
Sandrine Doretto, who coordinated the original EiA project based at Steinbeis Europa Zentrum in Germany, sees a huge untapped potential that could be accessed through enabling business collaboration in this way. With Africa’s population predicted to grow from over 1.4 billion today to 4.2 billion by 2100, it is one of the fastest-growing markets and will eventually become one of the biggest. The AU-EU Innovation Agenda, adopted in July 2023, aims to ensure that support for innovation and research translates into tangible benefits for people.
The idea behind the project and the wider AU-EU Innovation Agenda is to show Africa that Europe is here and wants to work with them. Doretto and Ntuli believe that Europe can draw inspiration from Africa, and vice versa. This mutual exchange of ideas and resources is expected to lead to significant advancements in both regions, fostering a more interconnected and prosperous global economy.
Future Prospects
The future looks promising for the collaboration between Europe and Africa. The EiA Centre continues to provide a platform for entrepreneurs, start-ups, and SMEs to connect with business incubators and accelerators. This initiative is not just about business; it’s about creating a sustainable and inclusive economic environment that benefits both continents. As more businesses join the network and more success stories emerge, the potential for growth and innovation will only increase.
The AU-EU Innovation Agenda is a testament to the commitment of both regions to work together towards a common goal. By fostering innovation and supporting small businesses, Europe and Africa are building a bridge that will lead to a brighter future for all. This collaboration is a shining example of what can be achieved when different regions come together to support each other and work towards a common goal.
