About 3.3 billion US dollars was raised in venture capital by Sub-Saharan Africa in 2015 amid global economic uncertainty, this is according to the Emerging Markets Private Equity Association.
Nicholai Nieder, Co-founder and Director Ideas in Motion told CNBC Africa that the role of venture capital was crucial in fast tracking economic empowerment in Rwanda.
Ideas in Motion have created an online platform to help stimulate entrepreneurship.
“We started this project about two years ago and our aim was to support entrepreneurs in Rwanda. We do this by building an online platform where entrepreneurs can upload their selected projects, look for skilled people and connect them with people who can help them,” said Nieder.
Nieder said his organisation is working with universities across Europe and North America. He said his organisation saw Rwanda as a positive strategic partner in expanding into Sub-Saharan Africa.
“We came up with a few important factors and one of the factors was language, we were looking for an English speaking country and this gives us a huge stage if one looks on a global level,” he said.
“Rwanda is a perfect starting point for us as the country is stable when compared to other peers in Sub-Saharan Africa and has an existing entrepreneurship scene.”
Nieder also said his organisation was planning between 50 to 100 projects this year adding that the activities in Rwanda would be used as a catalyst to move into the East Africa region.
“We are also looking at other countries in the region such as Uganda, Kenya as well as Tanzania for the short-term future.”