Seedstars World startup booklet 2015 by Seedstars World

YOU HAD NO IDEA, RIGHT? The true size of Africa

I DON’T THINK YOU NEED TO BE IN SILICON VALLEY ANYMORE TO BE SUCCESSFUL. THE WORLD TRULY IS FLAT.

GUY KAWASAKI Former chief evangelist of Apple

What happens when you put seed & stars together? Seedstars is a company builder that set off to change the perspective on how to invest in emerging markets. The objective is to think, launch, build and grow great companies in all corners of the world. Focused on markets like Colombia, Nigeria or Indonesia, Seedstars wants to be part of the movement of sustainable growth in these regions and have a positive impact on the country’s growth and employment (the so called “double bottom line”). While the work of governments, NGOs or public agencies in pursuit of growth is definitely indispensable,

we believe that the true potential of Africa, the explosion of Latin America and the rise of Asia still lie in the hands of their citizens. And what better means for development than entrepreneurship ? Seedstars World (a.k.a. SSW) was founded by Seedstars to build a truly global network of startups, investors, startup communities, accelerators, co-working spaces and all the other stakeholders making it happen.

STILL DON’T GET IT? Think of Seedstars World as a booster for startups in emerging markets. At each regional event we boost the local startup scene and for each winning startup selected we...

[

boost

Network Partnerships Market access Funding Visibility

& your motivation to start?

SEED = IDEA On October 12th, 2012, a seed was planted inside the minds of four entrepreneurs – Adrien, PierreAlain, Alisee and Michael. Being entrepreneurs themselves, they had long wondered what people like them, on the other side of the world, were like. How different could they be from them and what the hell were they doing out there? They believed that, in the end, entrepreneurs are all one of a kind, and country borders shouldn’t make them that different. Or did they?

“I’m here to bring a positive value to this world, I’m here to make it a little bit better, aren’t you?”

STARS = TEAM The idea is the fun & easy part. Now comes the execution. And as any entrepreneur will say, the success of the execution depends on the greatness of one’s stars. 2013 edition was closed with 20 cities, 20 winners, USD 14 million raised and one impressive frequent flyer’s card. In 2014 we got bigger, better and stronger. Our team visited altogether 36 countries!

-entrepreneurs of the planet Earth

In March 2013, the journey begins: Pierre-Alain and Alisee embark on a nine month, 20 cities, one-way trip full of discovery. No matter the race or class, east or west, they had the same insatiable drive and the same uniting purpose: ideas

execution

YOU HAD NO IDEA, RIGHT? The % of adult Kenyans that use their phone to make payments (in 2014) :

$ INVEST IN THE BEST STARTUPS WITH SEEDSTARS WORLD CROWD FUND

vs. 14.4% only in North America

SEEDSTARS

* SSW offices + events *

WORLD MAP bigger, better, faster, stronger

SSW events

LATAM

CEE & MENA

AFRICA

ASIA & OCEANIA

9 REGIONAL EVENTS

15 REGIONAL EVENTS

12 REGIONAL EVENTS

16 REGIONAL EVENTS

Bogota, Buenos Aires, Lima, Mexico City, Montevideo, Panama, Quito, Santiago, Sao Paulo

Alger, Amman, baku, Beirut, Belgrade, Cairo, Casablanca, Dubai, Istambul, Kiev, Moscow, Ramallah, Sofia, Tehran, Yerevan

Abidjan, Accra, Addis Abela, Cape Town, Dakar, Zanzibar, Gaborone, Kampala, Kigali, Lagos, Maputo, Nairobi

Bangalore, Bangkok, Dhaka, Ho Chi Minh, HK/Shenzhen, Islamabad, Jakarta, Kuala Lumpur, Manila, Naypyidaw, Seoul, Shangai, Singapore, Sydney, Taipei, Tokyo

_GR 6%

_FI

5%_G

3%_MEDICAL TION DUCA H 3%_E TEC EEN

Who did we meet YOU HAD NO IDEA, along RIGHT? the way? AMIN

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8%_OTHERS

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APPLICATIONS

27 VS 9

36 $120K 6 AVERAGE FUNDING

B-2-B

SEED-STAGE STARTUPS SELECTED

1500+

MOBILEPRENEURS?

LOCAL CEOS

B-2-C

CEO Gender?

FOREIGN CEOS

FROM

18 VS 18

29 VS 7

AVERAGE # EMPLOYEES

FEMALE

freemium_4 on demand_2

CUSTOMERS

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REVENUE MODEL

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In the world, everyday

14% R_

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(UP FROM 0 IN 2013)

babies are born*

iPhones are sold*

353,000 410,000 VS

* 2014

AS CLOONEY SAYS yep, we are quoting George

In Mexico, 1 in 4 Internet users is a teenager

The world’s first couple to marry using Twitter was Turkish

88% of web traffic in Nigeria comes from mobile phones (vs. 30% only in the US)

Colombia has the world’s 2nd fastest growing LinkedIn user base

31% of Kenya’s GDP is spent through mobile phones

In Brazil, the number of smartphone users triples every year

1500+ startups

52 flights (2 missed)

107 interviews

Japanese game Dragons & Puzzles makes 16 times more money per user than Candy Crush

In Myanmar, 98.8% of the population does not have access to the Internet

1 in 3 people in Kuwait has a Twitter account (#1 penetration in the world)

The Philippines has the world’s fastest growing Internet penetration. +531% in the last 5 years

Rwandan President Paul Kagame is the world’s most active President on Twitter after Barack Obama

100 hours of pitching

By 2017, the e-commerce industry in China will be worth more than the entire GDP of Switzerland

Co—founders of eBay (Pierre Omidyar) and Dropbox (Arash Ferdowsi) are of Iranian origins

In India, there are more mobile phones (563.7M) than toilets (366M)

In 2001, South African Naspers bought 46.1% of the Chinese company Tencent for USD 32 million. Those same shares are now worth USD 42 billion.

Argentinians spend 4.3h on social media per day

36 countries

The 4th largest search engine in the world (ahead of Microsoft) is Russian (Yandex)

According to the Global Innovation Index, Switzerland is the most innovative country in the world

The first startup in Silicon Valley was founded in 1939 in a garage with USD538. Little known, it’s called Hewlett Packard !

60,000+ km

“WHAT ELSE ?”

cheapest meal $1.85 (Thailand)

2.4% of the world’s Twitter posts originate from Jakarta, Indonesia

39 Korean startups have already reached a valuation higher than USD 1B.

8 of the top 100 tech companies in the world come from Taiwan

235 nights couchsurfing

cheapest haircut $1 (Indonesia)

10 STARTUP PRINCIPLES 1. Solve a real pain 2. Forget the NDA & share 3. Stop talking & launch 4. Listen to your customers 5. Better done than perfect 6. Hire fast & fire faster 7. Keep it simple, keep it lean 8. If you can’t measure, you can’t manage it 9. Sell, sell, sell 10. Fail, fail fast & fail cheap

of all Arabic content on the Internet comes from Jordan, while it accounts for 1.5% of the total Arab population*

75 % ‫تنرتنإلا ةكبش ىلع دجاوتملا نومضملا نم‬ ‫ال يذلا تقولا يف ندرألا هردصم ةيبرعلا ةغللاب‬ ‫ نم رثكأ دلبلا هيف لثمي‬1.5

ENTREPRENEURIAL SUCCESS = DETERMINATION x TEAMxLUCK (opportunity x timing)

ITS PHILOSOPHY School of Management Fribourg

The Swiss knife, Lean? According to the Global Innovation Index, Switzerland is the most innovative country in the world and has been for the past 4 consecutive years – congratulations!

know for its risk takers, audacious entrepreneurs and $ 1 billion tech companies. Heck, why would they be? Have you seen their unemployment rate?

Indeed, Switzerland is home to some of the most prestigious universities and research & development centres. The Swiss have gained an undeniable reputation in the fields of biotech, lifescience and medtech. Hence its leadership position with the most patents filed.

That being said, Switzerland’s tech startup landscape is changing thanks to public and private institutions putting in long term efforts to attract more local and foreign entrepreneurial talents.

However, tech entrepreneurs would say that Switzerland is home to great inventions rather than marketable innovations. Patents must overcome great hurdles before becoming an actual product that can be sold. Additionally, from a cultural perspective, Switzerland is not

“We are looking to become an important player in Switzerland at an international level, which will train great entrepreneurs that will build sustainable and profitable businesses!” Says Rico Baldegger, Director of the School of Management Fribourg, which has recently launched a startup incubator.

Being fervent believers of the lean startup methodology* School of Management Fribourg, reminds us

the main principles an entrepreneur should keep in mind when launching a business:

MORE MVP & LESS PPT ! Get out there – listen to the customer, test, launch, listen, pivot, test…

FORGET THE BUSINESS PLAN

“LITTLE BIG BUSINESS”

Business plans will only prepare you for the unplanned & unknown.

Start-ups are not smaller versions of large companies !

*Must read: The Lean Startup by Eric Ries

KEEP IT LEAN

VIETNAMESE STYLE

“Bootstrapping” and “being lean” are probably two of the hottest buzzwords in the entrepreneurial circles. Yet how many of us truly apply them to our work life?

Treating Triip.me as one of her babies, a real family member, she does not really need a definition of “Being lean”. She just does it. Full stop. But what does “being lean” really entail?

Ha Lam, the CEO and co-founder of Triip.me, an online platform to book truly local experiences, is one of them. “We started with $500 to build the MVP, leveraging friends and family. Over the last 16 months, we have not spent more than $5K and our community of local travellers still keeps growing.”

1. Listen to your customers or… visit them!

When we told her she is a lean expert, she looked surprised. “Lean. What is that?”

When we asked Ha about her customer feedback strategy, she was pretty straightforward. “I visit our customers wherever they live and sleep.” Since Triip.me is all about traveling, Ha uses her very own platform whenever she travels to talk to her community. This allows her to improve Triip.me every single time.

2. Don’t think you know better

3. Keep your money, I’m fine

When Triip.me started, Ha and her co-founders thought “We need an app!’’. One month of development later, they tested their MVP and guess what? No one cared. They realized the hard way that travellers were not ready to book local experiences through an app. So Ha’s team pivoted overnight and built a web-based platform, forgetting the app.

“We receive many generous offers for funding, but we refuse them every time. We don’t want money for the sake of money. We want to keep spending our money wisely and we want investors who believe in what Triip.me does,” explains Ha. If there is one thing to be learned from the story of Triip.me, it is straightforward: a startup is not about money, it’s not about fun features or a cool app, it’s not about a fancy Angel or VC to back you up. It’s about being smart with what you have.

And Triip.me seems to have nailed it.

IT IS IMPOSSIBLE TO LIVE WITHOUT FAILING AT SOMETHING, UNLESS YOU LIVE SO CAUTIOUSLY THAT YOU MIGHT AS WELL NOT HAVE LIVED AT ALL – IN WHICH CASE YOU HAVE FAILED BY DEFAULT.

J.K. ROWLING Author

FISH FARMERS When Gibran Chuzaefah, the founder of e-Fishery, pitched us his smart feeding system for aquaculture, we doubt there were five people in the room who understood what is so important about feeding freshwater fish at regular intervals. But the fact that he was solving a real life problem got us hooked right away. “I was a fish farmer myself,” explained Gibran. “I had 8 small catfish ponds and the more I started to get into the business, the more I realised that there is something really wrong about the way the feeding is handled.” There were two sides to the problem. First of all, the feeding cost constitutes about 70% of the whole aquaculture expense. And most

of the time, the feeding was done inefficiently by unskilled labour, who did not follow the correct procedure and who tended to steal the feed. In these conditions, how are you supposed to keep track of exactly how much feed are the fish given? The second problem was indirectly linked to the first one. Say the conditions improved and the workers stopped thieving the feed away, would this allow you to monitor how well the fish are fed? Not really. And since if you do not feed the fish correctly, they do not grow, it is crucial to know exactly how much feed the fish needs and to plan it accordingly.

SOLVING A PAIN “Looking for a solution, I contacted other farmers and guess what? they faced exactly the same problem,” says Gibran. “So I asked them: ‘What if I had a technology that could sense fish appetite, feed them and that you could control with your phone? Would you buy it? And they said yes. So I went home and started googling how I can make this happen. The market was definitely ready.”

Just in Indonesia, last year’s revenue from fish export reached USD 5.7 B and it has grown by 27% since. Now imagine you created a device that optimises the fish feeding, and so allows you to respond to this huge demand. Not bad, right? What we want to say, is that your product does not always have to be a well designed app with a trillion features, another social media platform or an e-commerce site. Sometimes you might do just as well, if not even better, with an oversized tin bin filled with granules, as long as there is a need for it.

AS LONG AS YOU’RE GOING TO BE THINKING ANYWAY, THINK

BIG

DONALD TRUMP Trump org. President

SO WHY ARE YOU NOT THINKING GLOBAL?

SEEDSTARS INDEX (SSI)? A lot of info. But stay with us. It’s fascinating!

this is where you want to be!

Success Execution Culture

SSI measures an ecosystem’s quality, maturity and future potential across three key factors:

Success Are there any local Bill Gates, Jack Ma or Richard Branson?

Culture Is it socially acceptable to be an entrepreneur? Is risk taking and failure tolerated?

Execution Is there access to funding, skilled labour, infrastructure & a supportive legal/tax system?

AN ECOSYSTEM CANNOT THRIVE WITHOUT ONE OF THE 3 FACTORS. THEY ARE ALL INTERLINKED

You need success stories to help you promote, mentor, invest and lobby. You need an inducive culture so pioneers start their journey and others follow. You need a healthy execution environment so companies can build, grow and hopefully succeed. And so the cycle continues... Example: even though China is starting to have its web billionaires’ club, the risk averse culture, lack of access to funding, inefficient legal system and more has not yet allowed it to give birth to more successful role models in the industry.

Who’s getting it right?

WHOâ&#x20AC;&#x2122;S GETTING IT RIGHT? Taking Silicon Valley as a reference, we compute the relative value of each element in each ecosystem. The data comes from various sources such as WEF GCI, World Bank, GEM, and most importantly our own experience on the ground in each environment.

Here are some of the top scorers for each region from the 36 cities (emerging markets and fast growing startup scenes like Singapore) visited by Seedstars World in 2014.

There is a big difference between #1 and #2 in Africa due to the very high Execution score of South Africa.

2 gems in Asia! Watch out, Malaysia is not far!

Close call here. Mexico is not far off the list.

Jordan just pushed off the top 2 and UAE is taking the lead given the development. To find out more on these ecosystems go to www.seedstarsworld.com/ssi

ECOSYSTEM

EXECUTION SUCCESS CULTURE

SSI INDEX

100

South Africa

Nigeria

Singapore

104

South Korea

Chile

Brazil

UAE

Turkey

Reference United States Africa

Asia

LatAm

MENA

36 countries visited by SSW: Argentina, Armenia, Australia, Azerbaijan, Brazil, Chile, China, Colombia, Ghana, India, Indonesia, Iran, Japan, Jordan, Kenya, Lebanon, Malaysia, Mexico, Morocco, Nigeria, Peru, Philippines, Russia, Rwanda, Senegal, Serbia, Singapore, South Africa, South Korea, Taiwan, Thailand, The Palestinian territories, Turkey, UAE, Uganda, Vietnam

WAYS TO IMPROVE THE SSI RANKING Success

Execution

Ok. You can’t pull success out of thin air but if you look hard, you’ll always find it. Seek out (at home and in the diaspora) successful entrepreneurs, scientists, artists, business leaders, and engage them in the local entrepreneurial ecosystem.

Most of these factors require a long term strategy and development plan led by the government. However, some ecosystems take matters into their own hands by creating entrepreneur teaching hubs, angel clubs, diaspora investment funds, lobbying governments, global access programs etc.

Culture Organize fail conferences, startup events, young entrepreneur initiatives, cover successful entrepreneurs in the press, discuss entrepreneurship at career fairs.

YOU HAD NO IDEA, RIGHT? The cities with the highest Facebook penetration (# of users* ) are: 1. Bangkok (8.68M) 2. Jakarta (7.43M) 3. Istanbul (7.06M) 4. London (6.13M) 5. Bogota (6.11M) 6. Sao Paulo (5.71M) 7. Mexico City (4.29M) 8. Santiago (4.12M) 9. Mumbai (3.7M) 10. Buenos Aires (3.53M)

And don’t forget that China’s Facebook & Twitter hybrid, WeChat, accounts for 450+ million users. Wondering why Facebook bought Whatsapp? * 2012

7 TIPS TO KEEP IN MIND WHEN GOING GLOBAL Feedback from startups that successfully scaled at an international level

Think global from day 1 (which does not mean launch global from day-1)

2. Make sure your product can go beyond borders 3. Create a globally applicable brand 4. Understand cultural differences & how they can impact your sell

5. Study local channels of advertisement & social media trends 6. Before going full power in a market, test the ground (no need for big budgets – think lean) 7. Don’t start from scratch in every country, learn from previous entries (build your own how to guide)

YOU HAD NO IDEA, RIGHT? By 2050, nearly 80% of the world’s population will be coming from Asia and Africa Oceania 1% Americas 13% Africa 25% Europe 7%

Asia 54%

DON’T WORRY ABOUT FAILURE, YOU ONLY HAVE TO BE RIGHT

ONCE

DREW HOUSTON Dropbox CEO & Founder

THE DIASPORA M$NEY: WHERE IS IT FLOWING? In 2013, international migrants sent USD 413 B back home. It is 3x more than the total of global foreign aid (about USD 135 B). In most countries visited by Seedstars World the diaspora money represents an important reserve for angel investment and kicking off startups.

Diaspora money as % of the countryâ&#x20AC;&#x2122;s GDP >15% 10% - 15% 5% - 10% <5% No available data

INTERNET PENETRATION: THE ULTIMATE FRONTIER? As of end 2014, 3B people in the world have access to the Internet. What does it mean? Reverse that.

It means that there are still 4.3B people without Internet. Imagine the opportunitiesâ&#x20AC;Ś

% of the total population without access to the internet > 80% 60% - 80% 40% - 60% < 40% No available data

HOW ATTRACTIVE ARE YOU?

13 28 29 02 30

200

14 03

24 15 33

150

26 50 2.

1.0

100

GDP Growth

Size of Economy in $ (2014 GDP) 15,000 B - 20,000 B 10,000 B - 15,000 B 5,000 B - 10,000 B 1,000 B - 5,000 B 500 B - 1,000 B 100 B - 500 B 0 - 100 B

09 19

protection.

01_USA / 02_Switzerland / 03_Argentina / 04_Armenia / 05_Australia / 06_Brazil / 07_Chile / 08_China / 09_Colombia / 10_Ghana / 11_India / 12_Indonesia / 13_Japan / 14_Jordan / 15_Kenya / 16_Korea / 17_Malaysia / 18_Mexico / 19_Morocco / 20_Nigeria / 21_Peru / 22_Philippines / 23_Russia / 24_Rwanda / 25_Senegal / 26_Serbia / 27_Singapore / 28_South Africa / 29_Taiwan / 30_Thailand / 31_Turkey / 32_Uganda / 33_United Arab Emirates / 34_Vietnam

07 31

21 12 34

22 10

20 7. 00

into consideration: capital market, taxation & investor

250

its VC index and GDP growth (2014). The VC index takes

5. 5

way to look at the attractiveness of a market is in terms of

300

4. 00

What are the most attractive markets to invest in? One

VC Attractiveness Index

WHERE IS THE MOBILE RUSH? smartphone penetration (%) 80,00%

Developed economies

15 0409 02 40,00%

16 03

20,00%

10 01 06

12 14 18

Emerging economies

0,00%

60,00%

% usage of m-commerce

01_USA / 02_Switzerland / 03_Argentina / 04_Australia / 05_Brazil / 06_China / 07_India / 08_Indonesia / 09_Japan / 10_Korea / 11_Malaysia / 12_Mexico / 13_Philippines / 14_Russia / 15_Singapore / 16_South Africa / 17_Thailand / 18_Turkey / 19_Vietnam /

Only these countries are stated in the analysis due to lack of information on the other countries.

THE WORLD AT YOUR FINGER TIP.

COST OF STARTING A BUSINESS? Cost of starting a business as a % of the average income in the country (2014)

5 most expensive countries Palestinian territories 86.2% Lebanon

73%

Uganda

64.4%

Senegal

63.8%

Rwanda

52.3%

YOU HAD NO IDEA, RIGHT? 90% of the worldâ&#x20AC;&#x2122;s population, under 30, lives in emerging markets*

5 cheapest countries

Glass half

South Africa 0.3%

empty or full?

Singapore 0.6% China 0.9% Armenia 1% Russia 1.2% * 2014

TOP 3 TRENDS: 1. Social Commerce:

B2C e-commerce in Asia Pacific is projected to grow 100.3% over the next 3 years and social networks such as Facebook, Instagram and local versions of it are becoming strong factors of this growth.

ASIA’S

RISE

FUN FACT #2: For a so called emerging economy, Vietnam is impressive with 94% literacy rate and 2.14% unemployment rate.

2. The Mobile Game Powerhouse:

56,557

34.6%

# OF INHABITANTS: With 450+ million downloads, WeChat is the social media king in Asia while Line in Japan and Kakao Talk in Korea now rank higher than Facebook in terms of active users. GDP GROWTH:

4.8%

Sources: AngelList Socialbakers, Mobile Planet (Google), World Bank, World Economic Forum & SSW Network of Partners & Startup (2013)

SHARE OF WORLD POPULATION:

55.5%

List of countries analyzed: China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, Vietnam.

# STARTUPS ON ANGEL LIST:

According to Google’s Consumer Barometer, more Asians play games on their phones than anywhere else. SHARE OF WORLD WEALTH: In Thailand, 65% of smartphone owners play games on their mobiles. 3. The Chat Empire:

A DEEPER LOOK TOP 3 COUNTRIES TO DO BUSINESS 1. Singapore / 2. South Korea / 3. Malaysia (no, not Japan!) TOP 3 MOST COMPETITIVE COUNTRIES 1. Singapore / 2. Japan / 3. Taiwan

TOP 3 FASTEST GROWING COUNTRIES 1. China (7.7%) / 2. Philippines (7.2%) / 3. Indonesia (5.8%)

AVERAGE VALUTION ON ANGEL LIST:

MOST FOLLOWED TWITTER ACCOUNT: Amitabh Bachchan (Indian film actor) 12,203,804 followers

USD 3.4M

VC ATTRACTIVENESS: HIGH: Singapore (3rd worldwide) LOW: Vietnam (68th worldwide) TECHNOLOGY READINESS: HIGH: Singapore (7th worldwide) LOW: India (121st worldwide) MOBILE PAYMENT PENETRATION: HIGH: Vietnam (22.7% of smartphone users) LOW: Singapore (9.1%) INTERNET PENETRATION: HIGH: Japan (86.3%) LOW: India (15.1%)

# INVESTORS ON ANGEL LIST:

10,584

FUN FACT #1: Malaysians are the people in the world with the highest average of friends on Facebook (233 friends on average – 80% higher than the world average).

SMARTPHONE PENETRATION: HIGH: South Korea (73%) LOW: Indonesia (14%) FACEBOOK PENETRATION: HIGH: Taiwan (56.7%) LOW: India (5.1%) M-COMMERCE PENETRATION: HIGH: China (69.4%) LOW: Philippines (31.9%)

TOP 3 TRENDS: 1. The Mobile Rush: The use of

mobile devices to go online in Latin America went up by 61% in the past year. 2. Gaming Madness:

A DEEPER LOOK

FUN FACT #1: The IPO of MercadoLibre (founded in Argentina) at NASDAQ was Endeavor’s first IPO in the US

LATAM’S EXPLOSION

List of countries analysed: Argentina, Brazil, Chile, Colombia, Mexico, Peru.

MOST FOLLOWED TWITTER ACCOUNT: Shakira - 28,389,208 followers

In 2010, digital TV had 18% penetration; it grew to 50% in 2014 and is projected to reach 94% in 2020.

SHARE OF WORLD WEALTH:

6.5%

# OF INHABITANTS:

588M

# STARTUPS ON ANGEL LIST:

11,340

GDP GROWTH:

AVERAGE VALUTION ON ANGEL LIST:

SHARE OF WORLD POPULATION:

# INVESTORS ON ANGEL LIST:

1.3% Sources: AngelList Socialbakers, Mobile Planet (Google), World Bank, World Economic Forum & SSW Network of Partners & Startup (2013)

TOP 3 MOST COMPETITIVE COUNTRIES; 1. Chile / 2. Brazil / 3. Mexico TOP 3 FASTEST GROWING COUNTRIES; 1. Peru (5.8%) / 2. Colombia (4.2%) / 3. Chile (4.1%)

Latin America has 185 M gamers and gaming revenues in LatAm will reach US$3.3 B in 2014. 3. Eyes on Digital TV:

TOP 3 COUNTRIES TO DO BUSINESS; 1. Colombia / 2. Peru / 3. Mexico

8.2%

USD 2.8M

5,292

FUN FACT #2: Brazil is home to 62% of Japanese people living outside of Japan

VC ATTRACTIVENESS: HIGH: Chile (23RD worldwide) LOW: Argentina (59th worldwide) TECHNOLOGY READINESS: HIGH: Chile (42nd worldwide) LOW: Peru (92nd worldwide) MOBILE PAYMENT PENETRATION: HIGH: Mexico (7.1%) LOW: Brazil (4.6%) INTERNET PENETRATION: HIGH: Chile (66.5%) LOW: Peru (39.2%) SMARTPHONE PENETRATION: HIGH: Mexico (36.8%) LOW: Peru (17%) FACEBOOK PENETRATION: HIGH: Chile (55.6%) LOW: Brazil (32%) M-COMMERCE PENETRATION: HIGH: Mexico (39%) LOW: Argentina (24.7%)

SHARE OF WORLD WEALTH:

4.5% TOP 3 TRENDS: 1. Momentum for E-Commerce:

Middle East, with North Africa, has the fastest growing e-commerce sales of all regions in the world with +31% on average per year. 2. The E-Learning Fever: 28% of

people in the region use language learning platforms at least once a day and 45% read educational blogs at least once a day. ALBANIA

3. The e-Traveler arises: Middle

East has the fastest growing tourism industry in the world with +14.1% tourists in 2014.

# OF INHABITANTS:

410.1M

MIDDLE

EAST

B O O S T

GDP GROWTH:

3.6% SHARE OF WORLD POPULATION:

5.7%

FUN FACT #1: : An Iranian e-commerce startup called DigiKala is now valued at USD 150M. It can deliver anything in Tehran within 3 hours

A DEEPER LOOK List of countries analyzed: Azerbaijan, Iran, Jordan, Lebanon, Turkey, United Arab Emirates, Palestinian territories. TOP 3 COUNTRIES TO DO BUSINESS; 1. United Arab Emirates / 2. Armenia / 3.Turkey TOP 3 MOST COMPETITIVE COUNTRIES; 1. United Arab Emirates / 2. Turkey / 3. Azerbaijan TOP 3 FASTEST GROWING COUNTRIES; 1. Palestinian territories (5.9%) / 2. Azerbaijan (5.8%) / 3. United Arab Emirates (4.4%)

VC ATTRACTIVENESS: HIGH: Turkey (30th worldwide) TECHNOLOGY READINESS: HIGH: United Arab Emirates (24th worldwide) LOW: Iran (107th worldwide)

MOST FOLLOWED TWITTER ACCOUNT:

INTERNET PENETRATION: HIGH: United Arab Emirates (88%) LOW: Iran (31.4%)

Cem Y覺lmaz (Turkish stand-up comedian and film maker)

SMARTPHONE PENETRATION: HIGH: United Arab Emirates (73.8%) LOW: Iran (10.3%)

6,222,604 followers FACEBOOK PENETRATION: HIGH: United Arab Emirates (41.7%) LOW: Azerbaijan (9.9%)

# STARTUPS ON ANGEL LIST:

1,184

FUN FACT #2: There # INVESTORS ON ANGEL LIST: are 4.5M Lebanese in Lebanon and over 18M outside Lebanon (some sources even AVERAGE VALUTION ON ANGEL LIST: say the number in reality is closer to 20M).

45,417 Sources: AngelList Socialbakers, Mobile Planet (Google), World Bank, World Economic Forum & SSW Network of Partners & Startup (2013)

USD 4.2M

A F R I C Aâ&#x20AC;&#x2122; S

NEXT CHAPTER

TOP 3 TRENDS: 1. Mobile Money Momentum:

Mobile money is evaluated to be a USD 617B market worldwide by 2016 while of the top 20 countries in the world for mobile money usage, 15 are in Africa

ALBANIA

use on mobile phones in Africa is predicted to increase 20-fold in the next 5 years and the spread of cheap (> $100) smartphones is seen as a top reason for this exponential growth)

level, mHealth market is predicted to grow to 24 B US dollars by 2018, up from 4.5 B US dollars in 2013. Meanwhile Africa represents 15.4% of the world population and it bears 71% of the global distribution of infectious diseases

TOP 3 MOST COMPETITIVE COUNTRIES; 1. South Africa / Rwanda / 2. Morocco / 3. Kenya

MOST FOLLOWED TWITTER ACCOUNT: Troye Sivan (South African born Australian actor and Youtuber) 2,190,402 followers

TOP 3 FASTEST GROWING COUNTRIES; 1. Ghana (7.1%) / 2. Uganda (5.8%) / 3. Nigeria (5.4%)

SHARE OF WORLD WEALTH:

2.9%

# OF INHABITANTS:

1.1B

GDP GROWTH:

5.2% Sources: AngelList Socialbakers, Mobile Planet (Google), World Bank, World Economic Forum & SSW Network of Partners & Startup (2013)

List of countries analyzed: Ghana, Kenya, Morocco, Nigeria, Rwanda, Senegal, South Africa, Uganda.

TOP 3 COUNTRIES TO DO BUSINESS; 1. South Africa / 2. Rwanda / 3. Morocco

2. Smartphones for All: Internet

3. Health gone Mobile: At a global

A DEEPER LOOK

SHARE OF WORLD POPULATION:

15.3%

FUN FACT #1: : The entire continent of Africa has 14 million phone lines, fewer than those in Manhattan. Meanwhile 880M Africans have a mobile phone.

FUN FACT #2: More than 50% of the # INVESTORS ON ANGEL LIST: population in Uganda is aged below 15 years old. It is the youngest population in the # STARTUPS ON ANGEL LIST: world.

2,697

12,618

VC ATTRACTIVENESS: HIGH: South Africa (32nd worldwide) LOW: Senegal (105th worldwide) TECHNOLOGY READINESS: HIGH: South Africa (66th worldwide) LOW: Uganda (119th worldwide) INTERNET PENETRATION: HIGH: South Africa (48.9%) LOW: Rwanda (8.7%) SMARTPHONE PENETRATION: HIGH: South Africa (39.8%) LOW: Uganda (10%) FACEBOOK PENETRATION: HIGH: Morocco (15.8%) LOW: Rwanda (1.6%)

KISKIL KEEP IT SIMPLE KEEP IT LEAN

OUR MOTTO Seedstars team

YOU HAD NO IDEA, RIGHT?

It is easier to incorporate in these countries than it is in the USA*:

MACEDONIA ARMENIA GEORGIA LITHUANIA AZERBAIJAN MALAYSIA RWANDAâ&#x20AC;Ś * 2014

YOU HAD NO IDEA, RIGHT?

% of women in Zambia & Nigeria that are entrepreneurs*:

Rwanda allows you to do it online in a couple of hours and with 0 cost vs. 4 days needed in the USA and a whole lot of procedures

vs.

* 2013

5.5% only in the UK*

MOTIVATED? READY TO SWEAT? GIVE IT 500%? DISCOVER THE WORLD?

THE ONLY STRATEGY THAT IS GUARANTEED TO FAIL IS NOT TAKING…

...RISKS MARK ZUCKERBERG Facebook CEO & Founder

For all the women out there, do not underestimate the power of passion For all the men out there, do not underestimate the power of women

PASSION IS A GENDER NEUTRALISING FORCE. MARISSA MAYER Yahoo! CEO

NEED MORE REASONS?

KNOW GAIN

IF YOU DON’T BUILD YOUR DREAMS SOMEONE WILL HIRE YOU TO HELP BUILD THEIRS.

TONY GASKINS Life coach

STILL DON’T BELIEVE US? BELIEVE THEM… This is called the empowerment of one’s argument

The magic happens here

LIFE BEGINS AT THE END OF YOUR COMFORT

Z NE NEALE DONALD WALSCH Author

THANK YOU A special thank you to all those that have believed in Seedstars World and our crazy ambition of connecting all corners of the world… and we really mean all corners! This booklet could not have seen the light without the support of the School of Management of Fribourg, which by all odds have imposed themselves as important players in the Swiss startup scene.

And let’s face it, we would not be here without every single partner, connector, startup, entrepreneur, jury member, mentor, ambassador, sponsor, fan, team member that has built so passionately a part of this community. Magic started and is happening with them and we are truly proud to represent their name, organisation, mission, ambition

and team. This is only the first edition of what we hope was a fun & inspirational experience. If you would like to join our journey or help in defining your dream and future ambitions, let us know - info@ seedstarsworld.com

See you soon at our next edition! Until then please make it your personal duty to take risks and make everyday count as, indeed, the only thing that is out of our control is time…

Edited in Switzerland, February 2015