Hec challenge+ fosters the growth of african startups in Côte d’Ivoire

According to official government data, Côte d’Ivoire is currently home to approximately 300 active startups. To navigate the competitive business landscape, many local founders are turning to elite training initiatives. One such prominent program is Challenge+ Afrique, an accelerator spearheaded by the renowned French business school, HEC Paris.

In a bustling classroom, a diverse group of entrepreneurs gathers to learn the art of value creation. Among them is Mariama Kaba, who traveled from Sénégal to participate. Formerly a specialist in professional experience validation, she is now pivoting toward her own venture: a platform designed to certify the skills of workers in the informal economy.

“I have assisted with various business ventures in the past, but I always played a supporting role,” Kaba explains. “This is my chance to focus entirely on my own vision and build essential skills. Finance used to feel like an intimidating concept to me. After just a few days of studying startup fundamentals and networking with such inspiring peers, I feel I am exactly where I need to be to push past my limits.”

From artisanal roots to industrial scale

Participation in this prestigious program comes with a price tag of 5,000 euros (roughly 3 million CFA francs). For this investment, founders receive guidance from seasoned experts like Etienne Krieger. A specialist in entrepreneurial finance, Krieger aims to provide the “secret sauce” for sustainable growth.

“Our goal is to help them identify the core elements that make a project credible,” Krieger notes. “We assist them in finding real market gaps that are currently underserved. By refining their approach, they can attract the right investors and transition from a small-scale artisanal operation to a robust, industrial-level business.”

The impact of this training is evident in success stories like Leya, an Abidjan-based startup that ensures mobile money agents never run out of cash. Co-founder Thibaut Cathenoz credits the program for their subsequent growth. “The training allowed us to step back and sharpen our value proposition and pitch. It was instrumental when we eventually moved to raise capital,” he says.

Over the last five years, the Challenge+ Afrique initiative has mentored nearly 120 startups across Abidjan and Dakar, contributing significantly to the evolving West Africa Sahel news narrative regarding economic development and innovation.