The Ministry of Innovation and Technology (MInT) and Startup Genome have teamed up to spotlight Addis Ababa’s entrepreneurial ecosystem in the Global Startup Ecosystem Report:

• The ecosystem created $87 million in Ecosystem Value from Jul 01, 2021 to Dec 31, 2023, representing 15% compound annual growth compared to Jul 01, 2019 to Dec 31, 2021 time period. Ecosystem Value is a measure of economic impact, calculated as the value of exits and startup valuations.

• #4 Global Ecosystem and #3 Sub-Saharan African Ecosystem in Affordable Talent — measures the ability to hire tech talent

• Top 20 Sub-Saharan African Ecosystem in Talent & Experience — measures long term trends over the most significant performance factors and the ability to generate and keep talent in the ecosystem

• Top 20 Sub-Saharan African Ecosystem in Funding — measures innovation through early-stage funding and investor’s activity

• Top 25 Sub-Saharan African Ecosystem in Bang for Buck — measures the amount of runway tech startups acquire, on average, from a VC round

• Top 30 Sub-Saharan African Ecosystem in Knowledge — measures innovation through research and patent activity

• The Ecommerce, Fintech, and Agtech sectors are highlighted for their density of talent, support resources, and startup activity

• A focus on digitalization and strong talent pipeline are cited as reasons a startup should move to the ecosystem

“The Ministry of Innovation and Technology envisions Ethiopia’s startup ecosystem reaching the fourth stage of its lifecycle while prioritizing its actions to activate and globalize the startup ecosystem lifecycle.” — Mr. Selamyihun Adefris, Innovation Development Lead CEO, Ministry of Innovation and Technology

"Startup Genome is delighted to join forces with the Ministry of Innovation and Technology in advancing entrepreneurial-based economic expansion in Ethiopia," states Marc Penzel, Founder & President of Startup Genome. "Our data-driven insights empower the aggressive aspirations of Addis Ababa's visionary policy leaders."