The Kenyan Startup Ecosystem Report 2022 from Disrupt Africa dives into the local ecosystem by analysing active startups, local support networks, and funding and exit activity over the last eight years.
Since launching its research arm in 2016, Disrupt Africa has built up a significant portfolio of publications, most notably the African Tech Startups Funding Report and Finnovating for Africa, previously available for sale but now made available free for all via open-sourcing initiatives with various partners across the continent’s tech ecosystem.
The Kenyan Startup Ecosystem Report 2022 is the fourth geographically-focused publication released by the company, made possible by support from Quona Capital, NEAR Kenya, MarketForce, Newtown Partners, Enza Capital, Cellulant, and AAIC Investment.
The publication finds that at least 308 tech startups were in operation across Kenya as of November 2022, employing over 11,000 people between them. Fintech is the most populated sector, with almost one-third of the country’s tech startups active in that vertical. Almost 50 per cent of Kenyan tech startups have undergone some form of acceleration or incubation, though diversity is an issue as less than 20 per cent have a female co-founder.
These startups are also supported by a strong investment ecosystem. At least 242 Kenyan tech startups raised a combined US$1,281,918,200 between January 2015 and November 2022, a figure bettered only by Nigeria. Kenyan startups, however, are only the fourth most successful when it comes to successful exits, lagging behind South Africa, Egypt and Nigeria.
The publication includes:
- Analysis of the spread and growth of Kenyan ventures;
- Discussion of startup activity in 11 sectors of the local tech industry;
- Data on startup launches by year;
- Tracking of funding and acquisitions;
- A detailed list of the 308 Kenyan startups tracked by the report.
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