Ethiopia’s startup ecosystem is steadily rising, ranking in the global top 100 and attracting increasing investment in fintech, agtech, and e-commerce ventures.
- In 2023, the Government of Ethiopia launched the Next Ethiopian Startup (NEST) program with the goal of providing soft landing to local and foreign startups and ecosystem builders. || Source: Startup Genome
+ Furthermore, the Ministry of Innovation and Technology (MInT) launched the E-Startup Initiative and a 200-hectare ICT Park to foster ICT-based startups and measure startup conduciveness. - Ethiopia ranks #4 globally in affordable talent and is among the top 20 in Sub-Saharan Africa for startup experience and funding, boosting entrepreneurial momentum. || Source: Startup Genome
- The country hosts 29 fintech startups valued above $2 million in 2023, with SantimPay surpassing $106 million in transactions. In addition, the country now has 25 Agtech start-ups. || Source: AWIB
- The government has supported 40 e-commerce startups with favorable regulations, while Ethiopia attracted $51 million in VC funding (2019-2023) to scale digital ventures.
