UNDP Supports Timbuktoo in Launching a New $1 Billion Innovation Fund
- The Timbuktoo Africa Innovation Fund plans to inject $1 billion into 1000 African tech startups over the next decade.
- The fund will provide $350 million in risk-tolerant capital and attract an additional $650 million from private investors.
- The funding will be directed towards startups at various stages, with specific focus areas in different African cities.
The launch of the Timbuktoo Africa Innovation Fund is a significant development for the African tech startup ecosystem. The injection of $1 billion into 1000 startups over the next decade will provide much-needed support and opportunities for growth. The fund's focus on specific sectors in different African cities shows a strategic approach to fostering innovation and economic development.
