Unveiling the startup illusion: Critical questions every policymaker must answer
- Vision and Objectives: What exactly does it mean for a country to aspire to build a tech ecosystem or transition to a digitised economy?
- Infrastructure Readiness: Is the country’s tech infrastructure up to par? Are internet access and mobile connectivity widespread and affordable?
- Economic Policy: Does the country truly encourage and support private initiatives, or are bureaucratic hurdles and government intervention hindering entrepreneurship?
Policymakers must prioritize a holistic approach that encompasses infrastructure development, administrative efficiency, talent cultivation, and a supportive regulatory environment in order to foster a successful startup ecosystem. Simply passing laws without addressing systemic issues and investing in infrastructure may lead to disillusionment and missed opportunities. Comprehensive assessment and commitment to addressing gaps and challenges are necessary for countries to achieve their aspirations of becoming global players in innovation and entrepreneurship.
