Miami-based entrepreneurship education organization, accelerator and incubator Venture Hive recently partnered with two Tanzanian organizations to create an education program to help students at five Tanzanian universities start actual businesses while they are still in school.
Founded by Dr. Susan Amat, Venture Hive launched the initiative in collaboration with the Tanzania Commission for Science & Technology and the Dar Teknohama Business Incubator. And it was formed through the LIONS@FRiCA alliance, whose goal is to enhance the startup and innovation ecosystems of African economies.
While this is its first venture into Africa, Venture Hive has done the same in such countries as Asia, Europe and Latin America.
AFKInsider interviewed Dr. Susan Amat to find out more about its new African initiatives.
AFKInsider: What led to the launch of the entrepreneurship program in Africa?
Dr. Susan Amat: Throughout 2013, I kept meeting with incredible talent from Tanzania, including the leaders of COSTECH and DTBi. Over four visits to Tanzania in 2013, the partnership was solidified to support a cohort of five universities in Dar and then progressing to a national initiative to connect students through the country.
I led a two-day boomcamp in support of DEMO Africa in Nairobi for 40 participating African startups. The BoomCamp was part of Venture Hive’s partnership with the State Department’s Lions@frica initiative. At the event, I identified the incredible talent that exists in the region as new startups create products that provide real-world solutions and aid in the development challenges the continent still faces.
I also understood that like many other developing regions, these entrepreneurs face roadblocks for scaling their business such as access to entrepreneurship education, business development support and capital.
With these needs in mind and the chance to provide entrepreneurship education for college students through a partnership with two leading and committed organizations like COSTECH and DTBi, I knew this would be a great opportunity to generate a significant impact in the lives of thousands of college students and in the region as a whole.
AFKInsider: How will it work?
Dr. Susan Amat: The program will start in five universities in Dar Es Salaam with future plans to replicate the model across the country. Venture Hive U is open to all students as a strictly co-curricular program that supports concepts from any industry, at any stage of development. The students get ongoing support on topics like assessing the feasibility of their ideas, developing and communicating a vision, choosing team members and leading them to set goals, while managing a schedule, finances, and customer expectations. The content available to support the entrepreneurs is developed in our accelerator, where it is used and validated by high-growth entrepreneurs from 18 countries.
No one is turned away – every student is treated with respect and supported through this model of just-in-time delivery of resources tailored to each individual. The program has no end; as long as the student stays committed and is making positive progress, acting ethically and seeking support, they will have access to consulting. The students are connected to each other through the region and throughout the network to find the best partners and collaborators for their programs as well.
AFKInsider: What do you hope to accomplish with the program?
Dr. Susan Amat: The main objective of Venture Hive U is to build the foundation of an entrepreneurial ecosystem where innovation and creativity are nourished to provide solutions to businesses and the public at large, and achieve real economic development impact. The basis of this entrepreneurial ecosystem starts with colleges and universities that educate the future generations of leaders. By developing the mindset in college students that they can create their own jobs, then giving them the tools and support to take a problem through to a commercialized product or service, this initiative will fundamentally change the communities in which these students live. Moreover, we want these students to have access to the best possible support and resources, through the network and daily updated content.
AFKInsider: Why Africa?
Dr. Susan Amat: With over 1.1 billion people, half of whom are 19 years or younger and a GDP growth projected to be 5.2 percent this year according to the World Bank, Africa represents great opportunities for startups to grow. Over the last decade, Africa has experienced a great transformation as its Internet penetration grew faster than any other continent. The region is experiencing significant shifts with a young population that wants to transform their communities and break the cycles of poverty that have stricken their nations. Supporting this next generations of students to become job creators will significantly shift the continent’s economic drive from within, creating sustainable non-aid related development.
AFKInsider: Goals this year with the program?
Dr. Susan Amat: During this first year, our goal is to structure the program and its staff and establish the private sector partnerships and mentor network, and to start supporting full time students from these five universities and help them develop their ideas. We have to make sure the culture is right – everything we do is “by entrepreneurs, for entrepreneurs.”
AFKInsider: Long-term program goals?
Dr. Susan Amat: In Tanzania, we are excited about extending the program to other universities throughout the country creating a truly national network of collegiate entrepreneurs who can collaborate and build scalable businesses. The larger vision is support an international network, so we are soon announcing partners in Latin America and the Middle East. We are actively seeking other countries in Africa who are looking for a mindset shifting program for their college students, offering skill building and job creation through individual empowerment.
AFKInsider: Do you plan to venture into other parts of the Continent?
Dr. Susan Amat: Yes, we have spent time in 10 other countries in the continent thus far looking for the right fit. In the ideal model, we like to work to create public-private partnerships with national governments that aren’t looking to make a big announcement and then go on to the next thing. We are focused on quality and empowering students to solve local, national and international problems while they are creating jobs for themselves and others – experiential learning. In some regions, we are supporting the creation of a full ecosystem: an accelerator in their economic development verticals, the Venture Hive U program for the colleges, and programs for high school students as well.
AFKInsider: What have been some challenges in launching the program and how have you overcome them?
Dr. Susan Amat: The biggest challenge in launching the program has consistently been in vetting partners. In determining our Tanzanian colleges, our partners invested a great deal of time and energy to educate the universities and make sure that every time I visited we moved the relationship along. We work with dedicated leaders who are committed to societal change, giving students access to world-class educational resources and developing their confidence to take chances and think big. Our partners ensure the quality of our program. If one student loses faith or trust in our intentions, we lose our ability to support their dreams that may change the world.
