The founders of more than 50 tech start-ups across Africa have joined forces through Pando DAO, an autonomous organisation with a mandate to develop the continent’s tech ecosystem. It is also a community partner of Silicon Zanzibar, a government-led initiative to turn the island into a hub for tech talent and companies. The founding members of Pando DAO include founders and early builders such as mPharma, Wasoko, Pariti, SunCulture, Africa Health Holdings, Stitch, Marketforce, 54Gene, Mara, VertoFX, Turaco, Raise, Carry1st, Jetstream and more. Collectively, these founders represent start-ups that are currently valued at over $2 billion and have raised over $500 million in capital. Their companies employ over 10 000 people across 15 African countries. One key project is a venture capital fund for early-stage tech companies in the continent which will leverage the expertise and network of its members and return funds back to them. Pando DAO will also support the Zanzibari government in developing a regulatory and policy framework that will support innovation and its digital economy, including a strategy to ensure the development of local tech talent. In doing so, it will enable Silicon Zanzibar to serve as a model for digital economy enablement to other African governments.
SOURCE: VENTUREBURN