When Geeks Fly
Bringing investors to Africa’s entrepreneurs
Since 2009, the venture capital investment firm 500 Startups has organized 18 trips — dubbed “Geeks on a Plane” — to connect investors and tech founders from Silicon Valley with entrepreneurs in emerging markets in the Middle East, Southeast Asia, Latin America and beyond.
The trips have sparked opportunities for American tech companies by spurring investment, networking and mentorship for entrepreneurs in developing countries.
Geeks on a Plane had never ventured to sub-Saharan Africa. Until USAID’s 2016 partnership with 500 Startups changed that. This March, the “geeks” spent 14 days across four cities in Africa — Lagos, Accra, Johannesburg and Cape Town. They interacted with more than 40 USAID-supported entrepreneurs, innovators and partners from across the continent.
The “geeks” came away with a new awareness of and appreciation for the work USAID does in those countries. And, as a result of the trip, they are exploring several new private sector partnership opportunities.
As the Silicon Valley-based technology sector liaison for the U.S. Global Development Lab, I was excited to work with 500 Startups because the firm is one of the few in Silicon Valley focused on supporting emerging market entrepreneurs. On the trip, I saw 500 Startups’ dedication to helping entrepreneurs get increased access to mentorship and capital from Silicon Valley and beyond. Conversely, the “geeks” saw the many ways USAID enables the private sector to co-invest in emerging market entrepreneurs and ecosystems.
The partnership illustrates how USAID’s collaboration with the private sector accelerates global development and creates inclusive growth in emerging markets. By supporting economic growth in Africa and around the world, USAID helps create better markets for U.S. companies. Both American and African businesses and ecosystem supporters benefitted from the connections and opportunities that this trip helped facilitate.
“It was heartening to see the number of Silicon Valley participants that were focused on financial inclusion and sustainable business models to improve conditions for those living in extreme poverty at the base of the pyramid,” said Dave Ferguson, director of the Center for Development Innovation in the U.S. Global Development Lab.
USAID has successfully worked with Silicon Valley before, partnering with tech providers to create the Alliance for Affordable Internet to bring down broadband prices in developing countries to enable the next 2 billion users to come online. More broadly, USAID works with the private sector where business interests align with our development objectives. We tap into companies’ core capabilities and employ models that are cost-effective, scalable and self-sustaining.
“The ‘geeks’ are impressive on so many levels, but what stood out to me was their willingness to jump in and embrace the local ecosystem and dynamic entrepreneurial community, with both keen optimism and an eye towards new opportunities,” said Christopher Burns, senior coordinator of digital development for Feed the Future in the U.S. Global Development Lab.
USAID will continue to support positive outcomes for the entrepreneurs, local investors on the continent, and the American tech companies represented by Geeks on a Plane.
About the Author
Danielle Cass is the Silicon Valley-based technology sector liaison for USAID’s U.S. Global Development Lab working to connect the science, technology, innovation and investment communities in partnership with USAID to accelerate global development. Follow her at @daniellecass.
