African Economic Forecasting | 12 March 2008
Entrepreneurship Ecosystems and Innovation Hubs in Senegal's East African Context
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Abstract
The East African region is characterized by a diverse range of entrepreneurship ecosystems and innovation hubs, each with unique characteristics and challenges. A mixed-methods approach was employed, involving both qualitative interviews with stakeholders and quantitative surveys of entrepreneurs across different sectors in Senegal. The survey revealed that access to funding is a significant barrier for small businesses (45%), while mentorship programmes are highly valued by respondents (80%). Senegal's entrepreneurship ecosystem faces challenges such as insufficient financial resources and inadequate support networks, which hinder the growth of innovative ventures. Policy makers should prioritise initiatives to improve access to funding mechanisms and enhance mentoring opportunities for entrepreneurs.