The London Tech Week 2023 showcased a vibrant atmosphere with attendees dressed in smart-casual attire, engaging in panels, showcases, and fireside chats across six stages.
However, amidst the 268 booths representing diverse countries, only one belonged to an African nation—the South African Pavilion, featuring 11 startups.
Despite the presence of African tech founders and operators, the event’s agenda lacked a significant focus on the continent, with only one panel dedicated to African innovation.
Unrelenting Innovation in Challenging Circumstances
Despite the lack of prominent representation, the panel discussion “Africa: The Next Frontier for the Global Emerging Tech Sector” illuminated the persistent innovation thriving in Africa.
Moderated by Justina Oha, the panel featured insights from Yewande Odumosu (HoaQ Ventures Fund), Tomi Davies (TVC Labs), and Deepankar Rustagi (OmniRetail).
The discussion centered on the driving forces behind Africa’s unwavering innovation amid a challenging business environment.
Building for Africa, Building for the World
Deepankar Rustagi, whose company OmniRetail was recognized by the Financial Times for its rapid growth, emphasized the unique opportunities presented by the African market.
He explained that building solutions for Africa often involves tackling multiple interconnected problems, leading to the development of robust and scalable solutions applicable globally.
Cross-Border Interactions Fueling Innovation
Yewande Odumosu attributed Africa’s continuous innovation to the ongoing interactions between Africans living locally and those in the diaspora.
This interaction, facilitated by cross-border payments, talent export, and business expansion, creates a dynamic exchange of ideas and resources that fuels innovation across the continent.
AI’s Promising Potential in Africa
The London Tech Week also highlighted the growing enthusiasm for artificial intelligence (AI).
With AI projected to significantly contribute to the global economy, the event featured numerous discussions on AI’s emergence and related innovations.
A presentation by TechCabal Insights showcased African startups across 11 countries leveraging AI to solve diverse challenges.
Optimism Amidst Funding Challenges
Tomi Davies acknowledged AI’s rapid adoption in Africa and expressed confidence in the continent’s readiness to harness this technology for problem-solving.
He cited examples of AI applications in healthcare, agriculture, and power distribution.
Addressing the current funding downturn, Davies remained optimistic, emphasizing Africa’s youthful population and growing educational capacity as key drivers of future economic growth and technological advancement.