Techstars Global Network: Unleashing Start-up Potential in Botswana

Entrepreneurs play an invaluable role in the economic activities of any country as they function as part of its growth. They stimulate new employment opportunities by developing new products and services, resulting in an acceleration of economic development as well as addressing some of society’s overlooked issues. The next generation of problem solvers are the people who look at problems differently from big corporations, gov- ernments, and civil society, engaging in finding solutions that immediately affect them and their communities. These people can be found in any part of the world, but certain restrictions will often impede their progress.

In the start-up space one network that is fast establishing its global footprint is Techstars. Techstars, based in Boulder, Calorado in the United States of America is the gold standard for startup accelerators. They have claimed fame through massive, interconnected network of over 3,000 successful entrepreneurs, mentors, investors, and corporate partners is at the heart of our mission to help the most promising startups do faster. Techstars is focused on supporting early-stage entrepreneurs in developing their ideas into world-changing businesses. Entrepreneurs hold the keys to the greatest challenges of our time, from startup founders to corporate employees to visionary dreamers. They see possibilities. They take chances. They also pave the way for entire industries. Techstars is igniting the global information economy.

Techstars is expanding its reach into the Sub-Saharan region through the inaugural Techstars Startup Weekend in Gaborone. Providing opportunities in underserved communities. Advancing innovative teams and ideas, regardless of origin, they work to create positive social and economic change by assisting entrepreneurs at every stage of their journey, transforming the world by making innovation accessible to anyone, anywhere. The first engagement in the region was held in January from the 26th to the 28th. To unpack the purpose of this initiative, TRC Magazine had a discussion with the Community Lead, Udo Georgewill.

TRC: Kindly give us a brief background of the Techstars Global movement.

UG: The Techstars Global Network assists entrepreneurs in their endeavors. Techstars was founded in

2006 with three simple ideas: entrepreneurs create a better future for all, collaboration drives innovation, and great ideas can come from anywhere. The organisation is now on a mission to enable everyone on the planet to contribute to and benefit from entrepreneurial success. In addition to running accelerator programs and venture capital funds, Techstars helps build thriving startup communities by connecting startups, investors, corporations, and local communities. Techstars has invested in over 2,200 companies, with a total market capitalisation of more than $30 billion.

In Botswana, Techstars hosted its inaugural Techstars Startup Weekend in January. This event leveraged local networks, corporations, and volunteers to set up an event that aims to address one of the nation’s biggest challenges, youth unemployment. Techstars Startup Weekend Gaborone ran as an exciting and immersive introduction to the startup world and a platform for different stakeholders to learn from each other how to build sustainable startups and indeed, an equitable and robust ecosystem. Over the course of three action-packed days, aspiring entrepreneurs met the best mentors, investors, co-founders, and sponsors, while getting more done faster – and even starting some business ventures.

TRC: With the annual Techstars Startup Weekend Gaborone now in place, what do you believe are the biggest gains to the local entrepreneurial com- munity in Botswana?

UG: Techstars as a global initiative has been run across various cities including Jaipur, Paris, Lagos, Berlin, Nairobi, Lagos and São Luìs. We leverage the insights from other markets to develop a one-of-a-kind experience. We have created this platform for passionate people who want to connect and create something new. Techstars is known for its rich and diverse talent pool. There is no better place to make new friends, coworkers, mentors, co-founders, or investors. The community honours the very nature of our generation – which thrives on finding meaning in the work they do and building businesses that solve key challenges and provide solutions that has an impact for years to come.

Techstars Startup Weekend is the world's largest grassroots entrepreneurship program. It was founded in 2009 and now has over 500,000 participants, 7000 events in more than 160 countries, and 1800 cities. As part of crafting a unique experience, we will combine both local and international players in the space to put together an exciting itinerary furnished with the best minds. Aspiring entrepreneurs will learn from those who have done it and know precisely what it takes to innovate, disrupt, and launch a company. The 54 hours will be a hands-on learning experience guided by experienced hands. Anyone who’s been on the entrepreneurial journey knows that feeling you're not alone can mean the world. Startup Weekend Gaborone participants have numerous opportunities to engage and connect with like-minded individuals — and to truly start something amazing.

As an organisation that encourages and supports new ideas, the event encourages people to start something great that will be of infinite value to various stakeholders. Techstars Startup Weekend Gaborone is intended to get everyone moving, thinking on their feet, and solving today's and tomorrow's problems. The local organizers will create an ideal environment for our participants to succeed and learn as much as they can in only 54 hours. Furthermore, all the new knowledge will be able to inspire aspiring entrepreneurs because of this immersive experience. Startup Weekend Gaborone delves into specific topics or skill sets as well.

TRC: Why Botswana and why now?

UG: As part of our effort to increase our global footprint, we found Botswana to be strategically positioned for Startup Weekend as data shows that in the Sub-Saharan region, Botswana is one of the fastest growing economies and we believe that empowering local entrepreneurs with the right tools will have an effective role in the National economic progress. As a developing territory, Botswana is plagued by pressing issues especially exacerbated by the Covid-19 pandemic such as unemployment, poverty, and economic inequalities. All these are issues that can be addressed by engaging young minds in problem-solving and using innovative thinking to future-proofing Botswana’s economic future.

TRC: What can be expected in terms of the programme for the annual event?

UG: We will have an array of intensive activities spanned over the 54-hour period. The programme is designed in a way that makes it engaging. As participants meet fellow innovators, pitch ideas, and form teams, our expert facilitators and mentors will set the tone for the rest of the days. Once the foundation has been laid, participants will gain knowledge, practice, and application of cutting-edge methodologies and presentation skills in preparation for the final pitch. The participants will be exposed to industry experts from different industries that can speak directly to participants’ challenges. On the final leg of the programme, the participants will practice their pitches and present their final work to a panel of judges drawn from our corporate and local partner networks.

TRC: Any last words?

UG: As the winners of the first cohort of budding entrepreneurs head to the International Competition for Entrepreneurs (ICE) in Jamaica later in the year, we are both thrilled and honoured to have played a part in ensuring their international exposure. We pride ourselves in honing the skills and passion of young innovators. These brilliant minds have good ideas to solve challenges in their communities and just need the support of other experienced players and we are committed to proving that in the long haul. Echoing the wise words of Peter Duiker, “The best way to predict the future is to create it.” Working with our network of volunteers, mentors, sponsors, speakers – and participants, we are creating Botswana’s future.