In a historic move, the United Nations Development Programme (UNDP) and Africa Influencers for Development (AI4D) unveiled the Timbuktoo initiative on January 16, 2024, at the World Economic Forum in Davos. Spearheaded by Ms. Ahunna Eziakonwa, Assistant Secretary General and Director for the UNDP Regional Bureau for Africa, Timbuktoo represents a significant commitment to harness the burgeoning opportunities in Africa's startup space.
Objectives and Ambitions
The initiative sets ambitious objectives, aiming to raise a staggering USD 1 billion youth innovation financing facility over the next decade. These funds are earmarked to scale 1,000 high-growth startups, directly and indirectly improve the livelihoods of 50 million people, and create a substantial value of USD 10 billion. Timbuktoo adopts a hub-and-spoke model, strategically selecting cities across the continent as hubs while partnering with public universities through University Innovation Pods.
University Innovation Pods (UNIPODS)
Timbuktoo introduces University Innovation Pods (UNIPODS) as transformational hubs across 13 universities in Africa. These pods are designed to be spaces of innovation, experimentation, and accelerated learning. The selection criteria for participating countries hinge on their demonstrated success in promoting entrepreneurship and youth innovation. Notably, Makerere University in Uganda emerges as a beacon, showcasing the potential impact of UNIPODS with facilities like Maker-Spaces, design labs, collaborative working spaces, and Technology Transfer Offices.