In 2023, the best country for startups in Africa was South Africa, with a total score of three points, according to data provided by StartupBlink. Mauritius, Kenya, Nigeria, and Egypt followed in the ranking as best places for startups on the African continent. In fact, some of the leading cities for startups in Africa are Lagos, Johannesburg, Cape Town, Cairo, and Nairobi.
Leading countries for startups in Africa in 2023, by total score
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The source states that the total score of the rankings is a sum of the quantity, quality, and business environment individual scores. The score ranges from 0 to 546.427 points (maximum score awarded to San Francisco, U.S., the best ranked city in the world according to the Startup Ecosystem Rankings 2023 report).
Quantity Score: Takes into account different metrics, such as number of startups, number of coworking spaces, and number of accelerators, to establish the activity level of the startup ecosystem.
Quality Score: Studies parameters that indicate qualitative results achieved by the ecosystem. These parameters include analyzing the traction of the ecosystem’s top startups, as well as reviewing “special entities” the ecosystem has produced: Unicorns, Exits, and Pantheon.
Business Score: It is a mix of business and economic indicators at the national level, discounted for cities that haven't reached a critical mass either for Quantity or Quality.
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StartupBlink. (May 29, 2023). Leading countries for startups in Africa in 2023, by total score [Graph]. In Statista. Retrieved August 24, 2024, from https://www.statista.com/statistics/1275303/top-countries-for-startups-in-africa/
StartupBlink. "Leading countries for startups in Africa in 2023, by total score." Chart. May 29, 2023. Statista. Accessed August 24, 2024. https://www.statista.com/statistics/1275303/top-countries-for-startups-in-africa/
StartupBlink. (2023). Leading countries for startups in Africa in 2023, by total score. Statista. Statista Inc.. Accessed: August 24, 2024. https://www.statista.com/statistics/1275303/top-countries-for-startups-in-africa/
StartupBlink. "Leading Countries for Startups in Africa in 2023, by Total Score." Statista, Statista Inc., 29 May 2023, https://www.statista.com/statistics/1275303/top-countries-for-startups-in-africa/
StartupBlink, Leading countries for startups in Africa in 2023, by total score Statista, https://www.statista.com/statistics/1275303/top-countries-for-startups-in-africa/ (last visited August 24, 2024)
Leading countries for startups in Africa in 2023, by total score [Graph], StartupBlink, May 29, 2023. [Online]. Available: https://www.statista.com/statistics/1275303/top-countries-for-startups-in-africa/