Timbuktoo Initiative Unveiled: A Game-Changer for Africa's Startup Landscape

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.

Tech Hubs Across Africa

As part of the initiative's first phase, Timbuktoo establishes Tech Hubs in eight cities, including Dakar, Accra, Lagos, Cairo, Kigali, Nairobi, Cape Town, and Casablanca. These hubs prioritize increasing risk capital for tech innovation, boosting the overall innovation ecosystem, and capturing the pan-African market. The approach is geared towards fostering a robust pipeline of startups and creating a supportive environment for innovation to thrive.

Addressing Development Challenges in Uganda

Taking Uganda as a case study, Timbuktoo aims to address complex challenges faced by the country, ranked 121st in the Global Innovation Index. The initiative recognizes the vital role of universities in transforming Uganda's science, technology, and innovation ecosystem. It emphasizes the need for innovative solutions and aligns with Uganda's goals, fostering a culture of entrepreneurship and driving impactful change. Timbuktoo provides a comprehensive framework for universities to act decisively, adopting new mindsets, building and trialing new development models, and deploying innovative solutions to propel Africa's promise forward. The initiative represents a groundbreaking chapter in Africa's journey towards a vibrant and sustainable innovation landscape.