Cameroon witnessed a historic moment on October 27, 2023, as the French Ambassador to Cameroon, Thierry Marchand, and the Minister of State for Higher Education, FAME NDONGO Jacques, launched the "START-UP 237: 100 projects made in Cameroon" initiative. This groundbreaking project infuses a massive €2 million into the Cameroonian startup ecosystem, setting the stage for a transformative partnership between France and Cameroon.
The Fonds Equipe France (FEF) Project
The Fonds Equipe France (FEF) project, also known as "START-UP 237: 100 projects made in Cameroon", is a pioneering initiative that aims to empower Cameroonian youth and women in entrepreneurship and employability. It's a 2-year program that supports 100 promising startups from all over Cameroon, offering not only financial assistance but also mentorship and guidance from local and international experts.
Key Players and Partners of FEF
At the forefront of the FEF project is the Agence Universitaire de la Francophonie (AUF), generously funded by FEF. Alongside AUF, Equipe France and Cameroonian partners are key players in empowering Cameroonian youth and women in entrepreneurship and employability. You can discover more about other projects by AUF on their website.
Equipe France: A collaboration of organizations committed to development and entrepreneurship:
- French Embassy in Cameroon
- The French Institute
- AFD: Agence Française De Développement
- Expertise France
- Business France
- OFII: Office Français de l'Immigration et de l'Intégration
Cameroonian Partners: Government and institutions crucial to project success:
- MINSUP: Ministry of Higher Education
- MINRESI: Ministry of Scientific Research and Innovation
- MINJEC: Ministry of Youth Affairs and Civic Education
- MINPMESSA: Ministry of Small and Medium-sized Enterprises, Social Economy, and Handicrafts
- Ministry of Employment and Vocational Training
- Far North Regional Council
The project connects educational institutions with the private sector, ensuring startups have a sustainable impact on local, regional, and global levels while aligning with development goals.
The Program Goals
The two-year program offers ongoing mentorship and support to help startups become viable businesses. The objectives include capacity building, financial and technical support, and participation in entrepreneurial events. The long-term goal is to inspire future entrepreneurs and create a sustainable ecosystem of innovation, job creation, and economic development.
Event at the French Residence
The French Residence in Yaounde hosted the launch of the "START-UP 237" initiative, celebrating the selection of 100 startups from all over Cameroon. This event brought together thought leaders, government officials, private sector incubators, and representatives from Cameroonian ministries, universities, and innovative entrepreneurs. The ceremony was graced by distinguished guests, including the French Ambassador to Cameroon, Thierry Marchand, and the honourable Minister of State for Higher Education, FAME NDONGO Jacques. Their presence underscored the significance and commitment of both French and Cameroonian authorities to this transformative project.
Leading Private Sector Incubators and Companies
The following list highlights the primary private sector incubators and companies that played a pivotal role in nurturing most of the 50 startups:
Active Space: A key player in the Cameroonian startup ecosystem
Le Boukarou: A nationwide startup accelerator and incubator
Silicon Mountain Startups: Notable startups like Digital Renter, and Traleor are part of this vibrant community. Check out this article about the Silicon Mountain conference
Startups Selected and Funding Allocation
The "START-UP 237: 100 projects made in Cameroon" initiative selected 100 promising Cameroonian startups from over 300 applicants. These startups cover various sectors, from creative and cultural industries to agriculture, vocational training, and entrepreneurship. The selection process focused on identifying ventures with 2-3 years of existence, viable products, and strong growth potential, ensuring effective utilization of the program's support. Notably, the initiative chose 50% of startups from the private sector and 50% from the public sector, highlighting a balanced representation of both sectors in fostering entrepreneurial talent in Cameroon.
These startups will collectively receive a €2 million investment, with each startup tailored to their specific needs, aimed at boosting economic growth, innovation, and employability. On average, each startup is expected to receive approximately €10,000. However, this amount may vary depending on the nature of the startup, its growth potential, and the resources required to accelerate its development.
Conclusion
The "START-UP 237: 100 Projects Made in Cameroon" initiative promises to transform Cameroonian entrepreneurship through a strategic partnership between France and Cameroon. The selected startups are set to pave the way for a brighter entrepreneurial future, creating opportunities for countless others to embark on a path of innovation and economic growth.
