Cameroon is becoming one of the best places to build a startup, but most of the early-stage entrepreneurs we speak to aren't aware of the local tech resources that are available to help them.
With applications for the Cameroon Founder Institute now open, we're excited to release the Cameroon Startup Resource Guide, which is currently in Draft v1 below! It was developed by the Cameroon Founder Institute and local leaders: Bertrand Fotsing (Angel Investor, Viktoria Business Angels Network (VBAN)), Chukwuemeka Fred Agbata Jnr. (Co-founder, techbuild.africa), FI Cameroon, Geraldine Mupandanyama (Managing Partner, Darena Ventures), Landry Wanmeni (Regional Head, Cellulant), Mathurin Kouguem (CEO , ADAA SAS )
This is just a draft, and while we spent many hours on this research, more input is needed. Please leave your comments on this collaborative Google document to help us complete the list. There are definitely omissions on this current version.
Are you looking to build a startup in Cameroon? Then apply to the Cameroon Founder Institute today!
Startup Stages
There is no one right way to build a technology company, but for the sake of simplicity we have outlined a basic, common, sequential framework.
1. Idea Stage
This is where new entrepreneurs get inspired, learn best practices, develop skills, validate ideas, and begin to build their team and product.
A. Inspire
- Douala Startup Media: Centralized local information, listings, and news. (i.e. startup blogs/ publications/ lists/ FB groups/ newsletters)
- Inspirational Douala Startup Events: Open, inclusive startup events that often focus on ideation. (i.e. Startup Weekend, idea fairs, and inspirational meetups)
B. Educate
- Best Practices: Beginner knowledge-sharing tech events. (i.e. beginner events that serve to educate more than inspire).
- Training & Feedback: Skill & Idea development events and startup bootcamps for entrepeneurs. (Includes comprehensive training programs, like Founder Institute, General Assembly, Lean Startup Machine, code camps, etc)
C. Validate
- Team Formation: Events for Finding Co-founders in Douala. (i.e. tech networking events or other resources that facilitate early-stage recruitment and cofounder matching)
- Build First Product: Hackathons & product events in Douala.
2. Launch Stage
In this stage, entrepreneurs establish and formalize the company, develop the product, get feedback from customers, and prepare for the next step.
A. Start
- Establish: Douala law firms & banks for startups
- Afriland First Bank
- Ashunchong & Partners
- Banque Atlantique
- BC PME
- Bitanga & Partners
- Bongam and Youmbi Law Firm
- Caverton Law Firm
- Citi
- D. Moukouri and Partners
- Diamond Hill Law Firm
- Ecobank
- Kinsmen Advocates Law Firm
- Nya & Co. Law Firm
- SCB Cameroun
- Societe Generale Cameroun
- Standard Chartered
- UBA Cameroon
- Union Bank Cameroon
- Wineex Bank
- Douala Workspaces: Co-working and flexible workspaces for startups in Douala.
B. Develop
- Formalize: Douala accounting, development and HR tools for early-stage startups.
- Douala Incubators: Groups that prepare companies for seed investment and provide advanced mentorship. (i.e. advanced knowledge sharing, later stage events and resources)
C. Launch
- Douala Seed Accelerators: Seed funding mentor programs (Techstars-style programs that provide funding)
- Pitch & Demo Events: Tech events that showcase Douala startups for investment.
3. Growth Stage
Here, a startup proves their utility, receives recognition, and scales up. This usually requires funding, angels, VCs, and ways to connect them to startups.
A. Recognition
- Douala Investor Networking: Events and groups that connect professional investors with founders.
- Major Media: Mainstream local business press that often showcase local startups.
B. Funding
- Douala Angel Investors: Seed-stage investors and micro-vcs.
- Douala Venture Capitalists: Series A and beyond
C. Growth
- Infrastructure: Office space, HR, local business insurance. (i.e. office space/ HR/ insurance providers for capital-rich companies to grow and scale)
- Expansion: Douala Growth accelerators and consultants. (i.e. programs and business consultants for capital-rich companies to grow and scale)
4. Cameroon Startup Success Stories
Successful homegrown companies that have raised significant institutional funding, employ a large workforce, or have achieved liquidity.
Supporters
To facilitate the steps, every ecosystem needs strong supporters.
1. Cameroon Startup Leaders
Successful local founders who lead the ecosystem & frequently mentor newbies.
2. Cameroon Government Startup Resources
Public organizations that facilitate local economic development
- American Chamber of Commerce in Cameroon
- Cameroon Chamber of Commerce, Industry, Mines and Crafts
- Investment Promotion Agency
- Ministry of Mines, Industry and Technological Development
3. Talent
Major local business or tech universities and employers that attract and retain local talent.
- Local Douala Tech Universities (universities with prominent technical or business programs)
Learn more about the Startup Ecosystem Canvas here, and leave us your thoughts on the Cameroon Canvas on this collaborative Google document (This is just a draft, and more input is needed!)
