INTERVIEW
Index Up40: the network of French start-ups focusing on African markets Interview by Proparco’s Communication and Marketing Department
Launched in 2016 by Medef International, Index Up40 brings together French start-ups operating in Africa. It has become a key network that facilitates synergies and supports French entrepreneurship on African markets. Here is some analysis and feedback from the managers of three of its members: CityTaps, Baloon and LAFAAAC.
FOCUS INDEX UP40 Index Up40 is a community of French start-ups operating in Africa, supported by Medef International. Their common points: a headquarters in France and a turnover of less than EUR 10m, with a third generated in Africa. The objective of this “index” is to provide project initiators with the tools they need to develop their business in Africa, as well as to benefit from Medef International’s network. More than a dozen sectors of activity are represented in this community (renewable energies, fintechs, logistics, etc.) in some 30 African countries.
PRIVATE SECTOR & DEVELOPMENT: YOU ARE MEMBERS OF MEDEF INTERNATIONAL’S INDEX UP40, WHICH BRINGS TOGETHER FRENCH START-UPS SEEKING TO POSITION THEMSELVES ON THE VARIOUS AFRICAN MARKETS. WHAT ARE THE ADVANTAGES OF THIS NETWORK? Grégoire Landel (CityTaps): This network makes it possible to benefit from Medef’s services (conferences, meetings, business trips, etc.) which can be difficult to access for small structures like ours. It’s also a customized program, designed and developed for us. It responds to our needs and time frames, which are not the same as for large groups. This really helps. Bertrand Vialle (Baloon): Doing business in Africa is very specific. Index Up40 helps us share common issues on the logistical or administrative aspects that are further complicated by the health crisis. This network also facilitates the
creation of synergies by allowing us to meet political leaders and major business leaders operating in Africa. Olivier Pascal (LAFAAAC): With Index Up40, we have the opportunity to regularly meet large companies and international institutions. I also find that being able to discuss business opportunities and good practices is extremely positive… This is especially important because internationally, and especially in Africa, it’s quite common to be faced with often unusual and specific difficulties.
WHAT IS YOUR OPERATIONAL STRATEGY IN AFRICA? Bertrand Vialle (Baloon): As soon as we launched Baloon, in 2017, we wanted to operate in several African countries. So, we opened offices in Côte d’Ivoire, Senegal, Cameroon, Niger and Gabon. This rapidly allowed us to promote our experience as a pan-African digital broker. We’re now planning to start operations in the Maghreb region and English-speaking Africa. 34
Olivier Pascal (LAFAAAC): We offer a solution for training in creative industries using a mobile application. One of the strong points of this digital solution is that it’s suitable for distribution in a number of markets. However, we’re fully aware of the marked cultural and economic differences in African countries. This is why in the short term, we’re focusing on
