BRITER BRIDGES
Introduction
Technology is revolutionising every industry, and deep-tech is at the forefront of this change. Deep-tech refers to solutions that are based on scientific discoveries and that enable us to solve complex problems. Deep-tech startups are using cutting-edge technology such as Ubiquitous Compute; Pervasive connectivity (e.g., 5G/Wi-Fi 6E); Artificial Intelligence; and Cloud to Edge Infrastructure; to tackle some of the world’s most pressing issues, from climate change to healthcare. These companies are developing innovative solutions enabling use cases in areas such as healthcare, fintech, agriculture, e-commerce, mobility, and hardware/Internet of Things (IoT). Despite its early-stage, deep-tech pools across Africa have been experiencing growth over the past decade, especially driven by the development of new applications and the integration with existing products. The traction surrounding the industry can in part be attributed to the widespread adoption of, and advancements in Artificial Intelligence (AI), one of the tech clusters that make up deep-tech. The continent has increasingly seen startups across several sectors leverage AI in their products and systems but, despite the buzz, this space can hardly be compared with other continents. Despite this continued growth, certain factors have slowed or completely hindered innovation in the industry. These factors range from a lack of adequate support systems for deep-tech, the cost of research and development (R&D) associated with a lot of deep- tech products, and a lack of funding for startups in the industry, among other reasons. Some of the approaches needed to solve these setbacks and enable the industry to grow include increasing access to support structures and funding opportunities for deep-tech startups and businesses, fostering collaboration between different stakeholders in the space, and building up the necessary infrastructure needed for the industry to flourish.
EVALUATING THE AFRICAN DEEP-TECH STARTUP ECOSYSTEM
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