The Startup Ecosystem of Senegal

Still, Senegalese startup ecosystems enjoy investments from the private and public sectors in skill development and innovation funding, as well as accelerators and incubators. A notable example here is Wave, a fintech startup. As the first unicorn of the country, its valuation exceeded US$ 1 billion, making it Africa’s first Francophone unicorn. Now it’s time for other Senegalese startups to follow Wave’s success. Senegal startup funding and innovation opportunities are on the rise, with the Senegal tech ecosystem offering resources and support to aspiring entrepreneurs.

Through the government’s supportive policies, there have been visible boosts to Senegal startup ecosystems with youth and female entrepreneurship, and improvements to the general legal framework for entrepreneurship. For instance, DER/FJ is a governmental organization that supports and promotes women and youth entrepreneurship in the country. Another public sector initiative is the Digital Senegal 2025 strategy, which facilitated the launch of a dedicated Startup Act, aimed at promoting innovation and entrepreneurship.

On top of public sector efforts, international institutions such as the African Development Bank, Enpact, and GIZ have helped in boosting microfinance and empowering local youth and women entrepreneurs, SMEs, and startups through training, incubation programs, and professional placement. These efforts help prepare the ground for further growth in entrepreneurship in the upcoming years. Senegal startup support and resources are readily available, making it an attractive destination for innovative ventures.