Yonsei University, a prestigious institution in South Korea, recently hosted an empowering entrepreneurship course in collaboration with beSUCCESS Media Group. The program took place from June 27 to July 14, 2023, and attracted students from various faculties such as business management, computer science, fine art, and English literature.
The main objective of the summer course was to introduce participants to the vibrant world of entrepreneurship and provide them with insights into the ever-evolving global startup trends. Throughout the program, investors, mentors, and experts from the startup world shared their valuable knowledge with the eager students.
During the course, Dr. Dotun Olowoporoku, Deputy Director of Novastar Ventures, took center stage to introduce the students to Africa’s burgeoning startup ecosystem. He shared his vast experience and insights into the critical factors driving Africa’s thriving startup scene.
Dr. Olowoporoku highlighted that despite global challenges, Africa’s startup funding remained resilient, with an 8% increase year-on-year, reaching an impressive 6.5 billion USD in 2022. In the first quarter of 2023, African startups raised 856.9 million USD in funding, marking the best quarter since Q2 2022. He also emphasized that countries like Nigeria, Egypt, Kenya, South Africa, and Ghana received the most attention from investors.
The mentorship session focused on Africa’s FinTech sector, which received a substantial 69% of the total funding raised by startups in Q1 2023. Dr. Olowoporoku also discussed the expansion of African startups across the continent and investors’ growing interest in Francophone Africa’s tech ecosystem. He highlighted significant acquisitions in Africa during the period, showcasing the region’s vibrant entrepreneurial landscape.
Throughout the interactive session, Yonsei University’s students actively engaged with Dr. Olowoporoku, seeking insights on investment trends and the outlook for Africa’s startup ecosystem. His concrete examples and practical advice offered students a deeper understanding of the opportunities and challenges in the African startup scene.
