Award winning entrepreneur, Christine Souffrant Ntim, Founder, Global Startup Ecosystem joins CNBC Africa to reflect on the state of entrepreneurship, the role of technology in business expansion and the pathway for emerging markets to access the United States.
Just reflecting on what today does mark, it is the conclusion of Global Entrepreneurship Week. It's an annual event that aims to foster entrepreneurial activity and innovation. Now this week, the U.S. Mission South Africa hosted a U.S. speaker to participate in the first Academy for Women Entrepreneurs Southern Africa Regional Alumni Summit. Award winning entrepreneur, Christine Ntim, founder of Global Startup Ecosystem, joins us in studio right now just to reflect on the state of entrepreneurship, the role of technology in business expansion and the pathway for emerging markets to access the U.S. Christine, thanks so much for your time and thanks for taking the time to join us in studio. Thank you so much for the invitation. So I believe this is not your first time in Africa, it's not your first time in South Africa, but it is your first time experiencing Global Entrepreneurship Week in the country. How was it? Oh, it's vibrant. I mean, I think everyone wants to be an entrepreneur. And the conversation is how do you become a resilient entrepreneur? Of course, it's not easy being one. And so it's really good to see the excitement and the ideas that people are putting forth as entrepreneurs today. Resilient and perhaps also award winning like yourself. So perhaps just for the purpose of our viewers who are meeting you for the very first time, tell us a bit about your story and your come up. Oh, I mean, the story of an entrepreneur always starts from childhood. I grew up in a family of powerful entrepreneurs. My grandmother was a street vendor. My mom was the first to do export. So naturally I took on the role and mantle of entrepreneurship from a little girl growing up in Haiti with my family, immigrated to the United States to where we are today, where now I'm building one of the global tech platforms for entrepreneurs who are trying to launch and build their own companies through my organization at the Global Startup Ecosystem. So that started from childhood. And I always look at entrepreneurs, where did you get that spark to want to start a business? And it usually starts from when you're young. You see, so it also adds to the argument as to whether entrepreneurship can be taught or whether entrepreneurs are born. And based on your story, it seems like it's something that was in your DNA. But what do you make of what the world actually is trying to achieve right now in teaching entrepreneurship and the resilience required? Yeah, it's an open debate, right? Like, you know, is this something that could be nourished and, you know, developed or is it something that you are born into your DNA to be an entrepreneur? I actually think it's a little bit of both. Maybe the one that's in their DNA, their route to entrepreneurship is faster, like myself. I've been entrepreneurial since I was little. But I do believe that there's an ecosystem that can really nurture entrepreneurship because in this society, this world that we're living in, we need more entrepreneurial thinking regardless. And as someone who's an ecosystem leader, my whole mission is to help entrepreneurs build and succeed. That means I am supporting the incubators, the accelerators, the facilitators, the entrepreneurship programs because a lot of entrepreneurs, even if it is in your DNA, you need resources, you need capital, you need support, you need encouragement. So yes, you can still nourish it and foster, hopefully now, a new generation of entrepreneurs. So one could argue that a global entrepreneurship is such a platform that tries to do exactly that, to nurture, to foster, to build and to educate. But perhaps give us your reflections in terms of comparisons. As you said, you grew up in the U.S., so you've been exposed to different kinds of businesses over in that part of the world. Being here in Africa, and also, I mean, we live in a global, a connected ecosystem by technology, so you would have sight of what is happening on the continent. So what are the comparisons in your view? So I think the most immediate comparison that people always make when it comes to entrepreneurship is access to resources. It is in the DNA and fabric of Americans to be entrepreneurial. That's why we're usually seen as innovators. And so we look at the ecosystem that we have available to us to be able to foster and accelerate entrepreneurship. Where I look at places like Africa, now I have traveled and lived across the continent from Ghana, Nigeria to South Africa. I've been here plenty of times before. I feel like the spirit of entrepreneurship is very organic. Many people, I was speaking to you earlier, that there's a huge youth unemployment crisis right now. Some of people, if you cannot find a job, you're creating it through entrepreneurship. So I feel like the resiliency and purpose of entrepreneurship is a default, right? And so that spirit and resilience is quite different. You're not just looking for innovative solutions. You're always looking for very important personal solutions that can really serve a purpose. And that's the difference I see in entrepreneurship on the continent versus entrepreneurship I've seen in some place like the U.S. or, you know, Western markets. Entrepreneurs need to be proud of the entrepreneurial resiliency that they're built into just by default of being African right now. And yet, if you look at the global share of money that is bidding on entrepreneurs here in Africa, I mean, the same argument can be said on, you know, African money that's bidding on African entrepreneurs. It's about a drop in the ocean. And I'd just like to understand what your sentiments are regarding why that is. So the trend is changing, right? I think over the past decade, when we look at Silicon Valley, for example, in America, it was literally the Cinderella story of the genesis of tech entrepreneurship. That is changing. And I always tell people, look at the cultural revolution that's happening right before your eyes. Afrobeats is not even a debate anymore. African food. I mean, look at what I'm wearing, right? I'm a Haitian-American wearing Ghanaian print clothing. Right. Even the jewelry that just shows you that Africa is now being looked at from around the world. My my beauty products are now shea butter from the African continent. Even every single product that I use, I'm more excited because it's from an African product. Not because I just want to support African entrepreneurs, but because it's cool. It's hip to buy products from the African continent. So I think that for those of you who are still looking at all the examples of successful entrepreneurship in the US, we need to understand that maybe we are going to be the new generation of examples that people are going to be talking about in the next 10 years for sure. The trend is moving to the African continent. It's exciting. That's why I'm in Global Entrepreneurship Week in South Africa. I'm not in the US. So that shows you that I'm following where the trend is going. I'm excited for it as well. You mentioned some of the hot spots that actually do get investor attention when it does come to investments. You mentioned South Africa. You mentioned Ghana. You mentioned Nigeria. Perhaps we'll add a bit of the countries in the East African region, the Kenya, the Rwanda. Are those still the prime spots? So are you seeing, just based on your interactions in the entrepreneurial ecosystem, are you seeing sort of the new generation or the next generation of entrepreneurs coming from elsewhere on the continent? Great question. So as the founder of the Global Startup Ecosystem, my task is not only to help and launch entrepreneurs through our annual accelerator program, but we also are a capacity building organization where we partner with governments. We partner with institutions like the Forbes, like the Googles and the IBMs to go find where entrepreneurship is emerging. What we found is that a lot of these emerging countries, they're either getting the support because they have the numbers like Nigeria or they don't have a language barrier like South Africa and Ghana, which are English-speaking countries. But what we're finding that these barriers, language or culture or numbers, is not just the only hubs of opportunity. You're seeing people are starting to go to places like Gambon, Botswana, and other different urban spots across the country because entrepreneurship is universal. And they're starting to see the opportunity of seeing probably the blue ocean, right? Don't just all compete in the same places. Let's look at the other markets. I mean, Africa's 54 different countries. There's bound to be amazing entrepreneurial ideas in these different markets. And I'm seeing a lot more people are breaking into those areas by, this is why I say it's an ecosystem, they're reaching out to the universities in those markets to get that introduction. They're reaching out to certain stakeholders to be able to have the in to see and explore the entrepreneurs that are emerging right now. And just to add, because of social media, entrepreneurs are not waiting for people to come see them. They're bringing their stories to the world through YouTube and social media. So now they're creating their own visibility, which is very powerful to see. So let's amplify then on the role of technology in terms of increasing exposure, but also potentially increasing access to markets. I mean, you're coming from the US and you're talking about the products that you purchase here. Of course, a lot of entrepreneurs who are looking to expand are looking regionally, of course, as you said, a continent of 54, 55 countries, but also are looking to expand geographically into the US. Is it hard right now? And particularly just given the role of technology and what we have seen in the US with increased regulation of a whole lot of technology companies over there. Is it hard? So it depends. You got to choose your heart, right? Because there's no road in entrepreneurship that's not going to be difficult. And I always tell people, if you decide to become an entrepreneur, you're making a crazy commitment to always follow the path of challenges, but finding solutions and that includes surmounting any obstacle that comes your way. So one of the biggest obstacles to your point is how do I leverage technology to go global? And one of the talks I was using throughout this entire week was the art of pitching. A lot of entrepreneurs think that their challenge to go global is their resources. No, your challenge is how do you communicate the value of your product, your service? Is it answering us a problem? Is it answering a higher calling? So the biggest thing for you to go global is being able to articulate simply, who are you? My name is Christine and Tim. What do you do? I'm the founder of Global Startup Ecosystem. Why do you exist? It's because we are on a mission to help the next generation of entrepreneurs build and scale their companies globally. That took me 10 seconds. And sometimes all you need is a couple seconds to make that introduction. So now the world wants those powerful stories. I tell entrepreneurs, especially South African entrepreneurs, don't go out there to try to replicate, imitate or duplicate what you see in America. We want to see your raw journey, your raw products, your story. That's going to capture the intention and the client pool that you want to take your product to market. That starts with pitching, that starts with presentation and communicating that confidently with conviction. I think that's very important to enter global markets. We are, as a humanity, we may not remember everything, but we remember the stories that people tell. And I will challenge the entrepreneurs across the country. Don't forget your story. That's going to get you to an open doors for you internationally way before you need the resources to go abroad. All right. I will circle back to the example of Afrobeats that you mentioned. Of course, perhaps the reason why it's so successful globally is that it's a sound that the global system didn't have. But it also does sound like you're saying, Christine, that entrepreneurs should invest in public speaking courses. I think. Thank you so much for joining us in studio. Unfortunately, we are out of time, but we look forward to continuing the relationship with you, Christine and Tim. She's the founder of the Global Startup Ecosystem.
Theme: Unlocking Entrepreneurial Potential in Africa through Technology and Storytelling
Award-winning entrepreneur, Christine Souffrant Ntim, Founder of Global Startup Ecosystem, recently joined CNBC Africa to discuss the state of entrepreneurship, the impact of technology on business expansion, and the opportunities for emerging markets to access the United States. As part of the conclusion of Global Entrepreneurship Week, the U.S. Mission South Africa hosted the first Academy for Women Entrepreneurs Southern Africa Regional Alumni Summit, highlighting the importance of fostering entrepreneurial activity and innovation. Ntim, who has a rich entrepreneurial background starting from her childhood in Haiti to her current role in building a global tech platform for entrepreneurs, shared insights on the essence of resilience in the entrepreneurial journey. She emphasized the dual nature of entrepreneurship, acknowledging both innate qualities and the nurturing ecosystem required to support emerging entrepreneurs. Reflecting on the differences between entrepreneurship in the U.S. and Africa, Ntim pointed out the organic spirit and purpose-driven approach of African entrepreneurship, particularly in addressing challenges like youth unemployment. Despite the inherent resiliency and innovation present in African entrepreneurship, Ntim highlighted the need for increased investment and support to fully unlock the continent's entrepreneurial potential. She noted a shift in global trends towards Africa, citing the continent's growing influence and appeal in various sectors. While traditional hubs like South Africa, Ghana, and Nigeria continue to attract attention, Ntim also identified emerging opportunities in countries like Gabon and Botswana, underscoring the universal nature of entrepreneurship that transcends geographical boundaries. Leveraging technology as a key enabler, Ntim discussed the role of platforms like social media in amplifying entrepreneurs' visibility and reaching global markets. She emphasized the importance of effective communication, urging entrepreneurs to craft compelling narratives that showcase their unique value propositions and resonate with international audiences. Encouraging authenticity and storytelling, Ntim underscored the power of personal narratives in capturing the attention of global consumers and investors. Emphasizing the significance of public speaking and storytelling, Ntim encouraged entrepreneurs to invest in honing their communication skills to effectively pitch their ideas on a global stage. By mastering the art of storytelling, entrepreneurs can differentiate themselves in crowded markets and attract international opportunities. In closing, Ntim shared valuable insights on navigating the complexities of global expansion and the transformative impact of compelling storytelling in unlocking new market opportunities. As Africa continues to rise as a hub of innovation and entrepreneurship, entrepreneurs are encouraged to embrace their unique narratives and leverage technology to drive sustainable growth and global impact.
"Don't forget your story. That's going to get you to open doors for you internationally way before you need the resources to go abroad."
['Global Entrepreneurship Week', 'Christine Souffrant Ntim', 'entrepreneurship', 'technology in business expansion', 'emerging markets', 'Global Startup Ecosystem', 'U.S. Mission South Africa', 'women entrepreneurs']