NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Thursday, September 20, 2018

By Guy Hilton

Ask any Israeli startup founder where they are currently focusing their market efforts and they’ll most likely tell you it’s the USA. It’s always been this way: for business and cultural reasons, the vast majority of Israeli tech entrepreneurs always first turn to the US. Some, increasingly, are scoping out Europe, and the more adventurous ones are even going as far as the Far East.

But startups around the world should begin looking more seriously at emerging markets for their growth plans. This isn’t just about impact and making the world a better place, this makes really good business sense.

According to a McKinsey report, Africa’s agri-food manufacturing sectorpresents tremendous market potential for companies across the value chain – from agritech and food production, to food processing and packaging.

Photo courtesy of Neil Palmer.