Promote the unique potential of diaspora entrepreneurs
Why highlight diaspora entrepreneurship and dedicate an event to it? Diaspora entrepreneurs are, above all, entrepreneurs. So, what sets them apart from others? And when we talk about the diaspora, are we subtly referring to migration?
By Séverine Peters-Desteract and Ahcène Gheroufella
Committed to sustainable and inclusive economic development, Expertise France supports numerous entrepreneurial ecosystems worldwide in various sectors (traditional, green tech, fintech, etc.) and among specific populations (women entrepreneurs, youth, etc.). While the subjects supported are diverse, the actors involved share common traits: the desire to succeed, to uplift others, to be masters of their future, and to drive the development of their countries. Because yes, entrepreneurship is first and foremost a movement, a dynamic, a willingness to create one’s own opportunities and solutions to the challenges encountered. To be an entrepreneur is to be a builder and a gatherer of energies.
Meetings and interactions with diaspora entrepreneurs reveal similar needs: networks, advice, solutions, support, funding, and partnerships. Many countries have recognized these needs and have taken action to support the development of the private sector, which actively contributes to economic and social development. Governments are increasingly recognizing the potential of this force originating from their country, although it is difficult to measure. The figures on the financial potential of the diaspora make public actors dream, but by definition, the diaspora is elsewhere. That’s why it’s often associated with migration issues, but it’s much more than that. It is a force and an energy with still largely untapped potential, going beyond the financial aspect and contributing to social and environmental issues.
For the cohorts of entrepreneurs supported under the Meet Africa 2 project, which focuses on developing diaspora entrepreneurship, all the activities contribute to one or more sustainable development goals, and 80% target disadvantaged populations or aim to protect the environment.
Entrepreneurship is first and foremost a movement, a dynamic, a willingness to create one’s own opportunities and solutions to the challenges encountered. To be an entrepreneur is to be a builder and a gatherer of energies
A diaspora entrepreneur who starts a business in their host country is simply an entrepreneur. Being a “diaspora entrepreneur” implies a desire for movement and co-construction between two geographies. Behind the success of every company founded by a member of the diaspora is the desire and willingness to put skills, energies, and resources at the service of the country of origin.
This is why the diaspora is so important. At a time when relationships are being rebuilt and histories rewritten, who better than these builders, rooted both here and there, to do so? When we listen to them passionately tell their entrepreneurial adventure, we immediately understand what they have to offer and to learn. They have the strength of their education, their dual culture, and their drive. They have access to networks often inaccessible to their Southern counterparts, to financing mechanisms, or to greater personal funds. But when they arrive in the countries where they wish to establish themselves, they often face difficulties, lacking certain references and codes. Local entrepreneurs, on the other hand, show resilience and an innovative capacity that are their strengths. Their frugality, often imposed by resource scarcity, is perhaps the source of tomorrow’s solutions.
Capturing, encouraging, and channeling these creative energies are therefore major challenges for all countries. It is crucial to better recognize and promote the unique potential of diaspora entrepreneurs in a win-win approach. To achieve this, it is essential to establish specific and tailored programs on both sides, whether through soft landing, investment, or networking programs.
Soft landing programs help diaspora entrepreneurs settle more easily in their country of origin or host country, by reducing the obstacles linked to a lack of knowledge of local markets. For instance, in Tunisia, The Dot initiative has supported Tunisian diaspora members in their entrepreneurial journey. In collaboration with Meet Africa 2, the Île-de-France Region, the Tunisia Development Foundation, ATUGE France, and Invest in Tunisia Agency – FIPA, six meetings were organized in France, attracting about 300 entrepreneurs. The program received 43 applications, of which about twenty were supported.
Being a “diaspora entrepreneur” implies a desire for movement and co-construction between two geographies
Investment programs, for their part, are essential in providing the financial resources needed to develop entrepreneurial projects, enabling diaspora entrepreneurs to bring their innovative ideas to life and actively contribute to the economic development of their countries. Expertise France has supported several partner countries in developing various programs and tools (fund of funds, crowdfunding mechanisms, etc.).
Finally, networking is crucial for the success of entrepreneurs. Connections are essential to overcoming challenges and seizing opportunities in an increasingly knowledge-based economy. In this regard, several agency projects emphasize connecting entrepreneurs with market opportunities. Each year, support for networking events, trade shows, and national and international events is organized, benefiting hundreds of participants.
In a hyperconnected world, yet paradoxically more divided than ever, entrepreneurs and the forces of the diaspora represent wonderful bridges of dialogue and construction. They build a universe where needs complement each other, where objectives are reconciled, and where dreams come true, regardless of the origin or destination of the project. Together, let us ensure that every diaspora entrepreneur is supported in their quest, and that behind every action undertaken or success achieved, the values of a shared world are strengthened. Let’s celebrate in this issue those bridge builders who show us that diversity is a wealth, and where every dream has a place, no matter where each person stands.
