Recent research by startup funding platform VC4Africa has shown that Kenya presents great opportunity and potential for investing in startups. Kenya is considered among the top countries for startups alongside Nigeria and South Africa.
According to VC4Africa's 2015 Venture Finance in Africa report Kenyan startups attracted the largest total investment.
The report has also shown that startups in Kenya have become more successful at raising funds from external investors.
Other highlights from the report
- Startups are avenues for job creation - the average team size for a startup grew 54% resuktng in5.7 jobs created per venture
- 49% of ventures started generating revenue in their first year of operation
- 44% of the startups in the surveyhad been successful in raising external capital
- average capital sucured per venture increased from USD 129,348 in 2013 to USD 205,374 in 2014