AfDB Innovation and Entrepreneurship Lab

Strong and functional enterprise support organizations (ESOs) like incubators, business accelerators and fund managers, are key to the success of African entrepreneurs and startups. The African Development Bank (AfDB)'s Innovation and Entrepreneurship Lab was created as part of the Bank's Job for Youth in Africa Strategy - to improve inclusive economic development and investment in Africa’s youth. The Lab works with partners and ESOs to provide resources and opportunities that support African youth and women-led enterprises to grow and scale sustainably. Operational since 2018, the Lab has identified and mapped over 1,000 ESOs throughout Africa and was one of the first to respond to the Covid-19 challenges in African countries through the AfricavsVirus Challenge. This was a 72 hour online hackathon that brought together more than 25,000 people from around the world to co-create solutions in response to the pandemic.