Fwd: African Startups: A new AU framework

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Ato Ulzen-Appiah

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Jul 23, 2024, 7:11:59 AM7/23/24

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From: Africa Practice <in...@7600143.m-sender-sib.com>
Date: Tue, Jul 23, 2024 at 7:26 AM
Subject: African Startups: A new AU framework
To: <abo...@gmail.com>

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AU Startup Model Law Framework

The African Union recently launched its comprehensive AU Startup Model Law Framework, a landmark initiative set to revolutionise the continent's digital landscape and unlock up to $180 billion in GDP by 2025. Africa Practice were the technical advisors and drafting partners for the groundbreaking framework

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Key highlights:

Startup labelling: Clear definitions and criteria for startup recognition
Funding mechanisms: Addressing the $5 billion investment gap
Tax incentives: Balancing revenue generation with startup growth
IP protection: Safeguarding African innovations
AI and cloud computing: Positioning Africa at the forefront of emerging technologies.

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In 2022, $5 billion flowed into 5,200 African startups, yet, Africa receives less than 3% of global venture capital. This framework aims to level the playing field, fostering innovation across all 55 AU member states.

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