GEC+ 2016: Emanuele Santi
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This document summarizes the African Development Bank's experience with an entrepreneurship ecosystem approach in Tunisia called Souk Attanmia. The program provided seed grants, mentoring, and co-financing to support entrepreneurs, especially those from disadvantaged regions, youth, and women. Over 2000 applications were received for the first round of funding and 61 projects were selected. The program leveraged 1 million euros to raise over twice that amount in financing from local banks. It is estimated the funded businesses will create 1000 new jobs. The African Development Bank plans to expand this approach to other countries and partner with more private sector and foundation partners.
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GEC+ 2016: Emanuele Santi
- 1. An Ecosystem Value Chain Approach to Enterpreneurship The experience of African Development Bank in Tunisia GEC+ Daegou, Entrepreneurship Ecosystem Building, 26 August
- 2. High Unemployment High expectation for a concrete response to major concerns in a country facing transition Regional and Social Disparities Weak Enterpreneurship culture Difficult access to traditional financial system Fragmentation of players
- 3. Capital Lack of and non inclusiveness of financial services Vulnerable to moods swings and changing riskappetite (post- revolution) “valley of death” Skills Informal microenterprises Skills for business usually gained outside formal education Inefficient Support structure Entrepreneurship Ecosystem Markets Small local markets Undeveloped regional integration Difficult business conditions Money and beyond: Tunisian pioneer gap
- 4. New development approach centered around people and their ideas Selected based on (i) capacity to generate employment, (ii) reduce disparities, (iii) innovation (iv) financial viability, and (v) replicability Start up grant fund + Co- financing A mentoring program An Innovative Approach IDEAS Seed grant funding Mentoring coaching Economic & social IMPACT Co financing by local bank
- 5. Private Sector Banks Civil Society AcademiaDonors and International Organizations More than just a PARTNESHIP: a VALUE CHAIN Synergies Resources Know-How AfDB: Convener/ Catalyst
- 6. Overcoming INFORMATION GAPs and Ensuring TRANSPARENCY troughout the process Massive outreach campain (5 Millions SMS, 50+ CSOs) to provide opportunities to all Assistance to on-line submission Regular Media updates Social Media and Geo- platform to ensure follow up (200,000 visits) and accountability Virtual Souk
- 7. Key Numbers (first edition) Demand: 2000applications (61selected for grant funding) Leveraging: 1Million euros helped raise over twicesuch amount Million TND through local Bank, Cutting Partner Bank ‘s approval process from 20to 3months Social Impact : 62% from the most disadvantaged regions, 54% from youth, 52% unemployed, 32% from women, 1000jobs estimated Ecosystem: 20partners including Banks, Business Associations, Multilateral and Bilateral Development Organizations, Private Companies, CSO and Academia
- 8. Man Women 10% 24% 7% 31% 15% 13% Profile of laureates Student Entrepreneur Employee Unemployed Manager Other Wide representation of the Tunisian population: women, unemployed, youth 4 6 3 2 5 4 4 3 5 1 5 1 1 1 1 1 2 4 2 2 4 2 5 3 0 1 2 3 4 5 6 7 Geographical distribution 60% of the projects from the under privileged areas
- 9. Difficulties in moving from ideas to projects (strenghten incubation) - Phase 2 has stronger selection and face interview Importance of an integrated approach: equity + debt + training + coaching Early engagement of local Banks, and diversity of selection committee Importance of Transperency Credibility vs Hazard Flexible capital (missing middle) can help get business start quickly and raise funds. Grant vs Loan? Need to differenciate needs and more tailoring: next phase: Start Ups vs SMEs
- 10. Next steps • 3rd edition of Souk Attanmia and replication in other countries (e.g. Cote Ivoire – Jeune Up) • Jobs for Youth in Africa: comprehensive initiative combining intervention in skills development to SME support • Boost Africa, blended finance vehicle to support the emergence of VC and business incubators across teh continent Partnership approach extended to private sector, foundation and other players
- 11. www.soukattanmia.org www.afdb.org @SoukAttanmia Thank you Emanuele Santi Leas Strategy Advisor e.santi@afdb.org SoukAttanmia
Notas del editor
- I am excited and honored to be with you in Vienna presenting an initiative, which represents arguably one of the first and most successful collaboration between the Bank and UNIDO at country level, and where UNIDO’s played at critical role from the conceptual and operational point of views. Unido personal contributions and ideas have really made a difference and encouraged an organization typically reluctant to work at micro level, to venture in Micro Enterprises development.
- We are in 2011. Tunisia Forefront of the arab spring toppled down an authoritarian regime. Is confrnted a serious socio- economchallenges. unveiled by the revolution All this against a backdrop of port-revolutionary euphoria and expectation for concrete response to longstanding issues.
- Behind the money, what I called the Tunisian pioneered gap, suffered from a problem of markets, skills, and capital Which was particularly acute for those who were starting new ventures, those often deemed to end in the so called “valley of death”, where losses turn out to be larger than gains, in the initial phase of a risky business venture So we felt the need to develop a devise to address the equity contribution, lift people out of the so called valley of death, link them to more mature financing and accompanyint them to the “next stage”
- En vue de stimuler la dynamique de développement en Tunisie et favoriser la création d’emplois Souk At-tanmia: the largest mobilization of partners to support employment through innovation and entrepreneurship in Tunisia.