Harvard, MIT, top postgraduate choices for millionaire West African startup founders – Techpoint Africa
When it comes to postgraduate training, West African tech entrepreneurs have a penchant for attending the best universities in the world. According to data from Techpoint Africa Report on the Decade of Startups in West Africa, Harvard University and the Massachusetts Institute of Technology (MIT) are the main destinations for the founders.
The report contains information on Millionaire West African Startups (MWAS) – startups that have raised at least $ 1 million cumulatively over the past ten years.
A few observations from the report show that most of the West African founders sought knowledge, experience and very likely connections to postgraduate degrees at universities abroad.
Of the founders with a postgraduate degree, 98.2% obtained their postgraduate degree abroad, while 1.8% obtained it in their home country. However, all of the founders obtained their MBA abroad.
Harvard and MIT, two of the world’s top universities, have trained the most founders of millionaire West African startups at postgraduate level – either master’s and doctoral, or MBA.
The two schools combined to form 12 of the 24 founders who studied abroad at master’s and doctoral level, and 8 of them for their MBAs.
Between 2010 and 2019, these founders operated in various industries such as financial services, education, and online retail among others. They also raised the most funds from investors.
Does Postgraduate Education Help Funding? Is there a clear bias on the part of investors for prestigious institutions?
Beyond the allure of a postgraduate degree from some of the world’s most prestigious universities, the strength of these schools’ alumni networks could be a major selling point.
Graduates of these universities are in some of the largest companies in the world and could easily be contacted for help if needed.
Which of these founders attended Harvard and MIT? How much did they raise? What other schools do the founders of Millionaire West African Startups attend? Could a postgraduate degree abroad mean more funding for your startup?
Learn more about Techpoint Africa Report on the Decade of Startups in West Africa.
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