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Startup Fever Heats Up in Africa
I report this week from Africa which is enjoying its greatest economic success in decades and where there has never been a better time to be an entrepreneur. With economic growth rates this year around 6 percent in one-third of the 49 sub-Saharan African countries, the IMF forecasts that Africa will have the fastest-growing economy of any continent over the next five years. The World Bank in turn has reported earlier this month that more than 20 sub-Saharan African countries, encompassing more than 400 million people, have gained middle-income status, while the number of people living in poverty is down by roughly 10 percentage points over the past decade.
VC Dollars, Deals on the Decline
While a report we profiled last week talked about signs of recovery across the board for angel investors, the outlook apparently isn’t so bright for the venture capital industry. The latest survey from PricewaterhouseCoopers and the National Venture Capital Association shows that VC investments declined during the third quarter of 2012—both in terms of dollars and deal volume.
New Sketchbook Video Illustrates GEW Impact
Global Entrepreneurship Week is an idea bigger than the thousands of communities around the world that make it up. That idea and the benefits of engaging a global community working to advance entrepreneurship are the subject of the latest Kauffman Foundation animated sketchbook video released last week.
Global Competition Recognizes 50 Promising Startups
In the search to find some of the best and brightest new startups around the world, Global Entrepreneurship Week recently announced the “GEW 50” —a list of the 50 most innovative new companies competing in the Startup Open, a competition that recognizes startups with high-growth potential. These elite ventures will now vie for the grand prize—an all-expenses-paid trip to Rio de Janeiro to serve as an official delegate to one of the world’s largest gatherings of startup champions, the Global Entrepreneurship Congress, in March 2013.
A Look Back at Innovation Daily
Each day, Innovation Daily checks the pulse of global innovation--courtesy of Innovation America. Here, we take a look at a handful of relevant stories it compiled last week.
This Week in Entrepreneurship Policy
Congress is in recess with members back in their home states and districts as they focus on campaign work over the next several weeks. They will return to Washington at some point after the November 6 election.