Africa’s tech sector is on the brink of a breakthrough as venture capital, talent, and connectivity converge to support a new generation of innovators.
Kevin Dillon, co-founder of Africa Bridge Fund, believes Africa has the potential to be the next global leader in AI and technology. He says that the time has never been better to unlock the continent’s potential in tech innovation and artificial intelligence.
Dillon’s career spans over four decades in some of the world’s fastest-growing tech markets. During the 1980s and ’90s, he experienced Silicon Valley’s rise closely, working at Price Waterhouse and Microsoft. He later played a key role in helping Microsoft establish its presence in Europe as the region’s first CFO.
In 2004, Dillon co-founded Atlantic Bridge, a growth-equity firm that has invested in 110 deep technology companies, achieved 38 successful exits (including seven unicorns), and partnered with leading university innovation hubs to further build the ecosystem and pipeline across Europe.
In this exclusive shared with IT News Africa, Dillon argues that empowering African entrepreneurs to thrive on the world stage requires investment in individual ventures as well as the wider ecosystems that underpin sustainable tech growth.
He shares his views on what’s needed to move ventures from startup to scale-up and successful exit, drawing on four decades of international deep tech VC experience.
“Building an ecosystem means more than backing individuals,” he explained. “It’s about creating the right conditions – capital, connections, and mentorship – for startups to flourish.”
4 Pillars for Africa’s Tech Ecosystem
Africa Bridge Fund, along with Managing Partner Frank McCosker, focuses on critical pillars that must be in place for tech startups to thrive:
- Capital: Despite record venture inflows in 2024, tech startups in Africa remain underfunded at seed and Series A stages.
- Connectivity: Access to markets in Europe and North America allows founders to benchmark against global peers, form strategic partnerships, and scale.
- Co-investors: Syndicates of local and international funds pool expertise and de-risk investments, broadening the support network for founders.
- Talent: Africa’s universities and coding academies produce world-class engineers, but programs must align more closely with industry needs.
‘We believe by investing in both the venture and technology ecosystems together, the foundations will be built to enable African entrepreneurs to thrive on the world stage,’ says McCosker.
3 Strategic Opportunities
According to Dillon, African tech ventures generally fall into one of three categories:
- Regional Solutions: Technologies designed to address local challenges, such as off-grid energy or water purification systems.
- Adaptations: Customizing proven innovations from the US, Europe, or Asia for local markets.
- Global Champions: Building breakthrough technologies in Africa that can compete on the world stage.
“Each model requires different support structures, but all depend on healthy capital flows and strong partnerships,” Dillon noted.
African Tech is Surging
McCosker highlights a powerful convergence of factors making 2025 pivotal for Africa tech. “The continent’s demographic dividend – home to the world’s youngest population – fuels entrepreneurial creativity, while lower development and operational costs enable startups to hit technical milestones on lean budgets.”
At the same time, the new wave of AI-based technologies – like the Cloud, Mobile and Internet waves before – are accelerating innovation and growth at an unprecedented rate. African domestic participation in venture capital deals has also risen from 19% to 31% of total inflows over the past decade.
“The global shift toward digitalization and sustainability means African startups are uniquely positioned to deliver both profit and purpose,” says Dillon.
Looking Ahead
The success will be measured not only in financial returns but also in social impact, such as improved healthcare access, climate resilience, and expanded digital inclusion.
“As we build out this ecosystem, our goal is to empower African entrepreneurs to help solve some of the planet’s biggest challenges and, in doing so, compete globally,” he said. “The future of tech in Africa isn’t just promising—it’s transformative.”
