AfriLabs and Korea-Africa Foundation Join Forces to Drive African Innovation

African hubs network AfriLabs has entered a memorandum of understanding (MOU) with the Korea-Africa Foundation for a partnership that seeks to enhance innovation and economic development across Africa.

AfriLabs is an organisation that has members comprising technology hubs, startups, investors, and other players in the ecosystem with the goal of promoting innovation on the continent.

Recently, AfriLabs has declared the opening of 16 new hubs, making its hubs network a total of 478 hubs spread across 260 cities in 53 African countries.

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The Korea-Africa Foundation, on the other hand, was established to promote economic cooperation between the private and public sectors of Korea and aim to develop cooperation with African nations.

The reason for the cooperation is the absence of direct cooperation between Korean and African startups, where one can cover the weak points of another, as well as share contacts and experiences. This is through sharing information on development of the youth, identifying and starting collaborative research projects and promoting a vibrant environment of talent and innovation in both regions.

“At AfriLabs, we are dedicated to unlocking Africa’s full potential and generating wealth through strategic alliances. This partnership with the Korea-Africa Foundation unlocks a treasure trove of opportunities for startups, granting them access to a global network, invaluable resources, and unparalleled industry knowledge. Together, we will empower the next generation of African innovators and entrepreneurs, paving the way for sustainable development and a thriving economy,” said Anna Ekeledo, executive director of AfriLabs.