Last week, Nairobi hosted the Kenyan Edition of Latitude59, the flagship event for Estonia’s startup ecosystem, marking the first time the event ventured beyond Estonia’s borders. A significant win for Kenya’s startup scene, the choice was driven by the similarities between the two countries’ ecosystems, according to Liisi Org, the CEO of Latitude59. The event aimed to showcase Kenya’s accessibility and numerous opportunities to Estonian and European companies, leveraging the country’s sizeable population with smartphone access and internet connectivity.
The conference covered a number of topics, ranging from the reasons behind East Africa’s startup boom to community building, E-mobility, and insights into what Venture Capitalists seek in startups.
Business Diplomacy
Daniel Erik Schaer, Estonia’s Ambassador to Kenya, emphasized Kenya’s status as a priority country for business diplomacy, underscoring the importance of hosting Latitude59 in the country. The event received partial funding from Estonian Development Co-operation (ESTDEV), which has now established offices in Kenya. Estonia, known for having the highest number of unicorns per capita in Europe, expressed interest not only in exporting solutions to Kenya but also in forming partnerships with local startups. The Ambassador highlighted the significance of collaboration between Estonia, Latitude59, and Kenya to bolster the local startup ecosystem.
Estonia’s impressive startup statistics, including over 1365 startups for a population of 1.3 million, showcased their focus on global markets. The Ambassador encouraged Kenyan startup founders to leverage Estonia’s Startup Visa, offering access to the broader European and global markets.
Lessons Kenya Can Learn
Having Government support is essential for the growth of the ecosystem. The Estonia Startup Visa was a suggestion of startup founders who encouraged the government to introduce it to attract startups to the country. As mentioned, Estonia has a very small population and to grow, they needed to attract productive individuals.
The Kenya Startup bill 2023 which should be signed into law next year might help to some extent. More still needs to be done to hear the voices of those in the ecosystem for it to grow. The government actively helping startups grow and succeed in what is needed the most.
