The case for a more collaborative innovation ecosystem in AfricaSay no to plagiarism. Get a tailor-made essay on “Why violent video games should not be banned”?Get the original essayVenture capitalism has proven to be a window into the innovation economy, without which companies like Apple or Google would not be the global heavyweights they are today. Silicon Valley, once considered the most fertile breeding ground for startups, became an innovation powerhouse in the 1970s and attracted some of the world's brightest minds. The undisputed king of venture capital. But times are changing. Over the years, Europe and Asia began to replicate the magic of Silicon Valley with varying degrees of success. Today, this is also true for Africa. A massive lack of funding has historically prevented African startups from expanding their businesses beyond local and informal markets. Until recently. Take Jumia, a Nigeria-based, venture-backed tech company popularly known as the “African Amazon.” Earlier this year, it became the first African startup to list on the New York Stock Exchange. A decisive moment for the African entrepreneurial ecosystem. Since then, all eyes have been on the continent. African innovators are eager to get started and investors are eager to be part of Africa's next success story. With a highly entrepreneurial culture, as many as 200 innovation centers and, in some cases, government commitment to improving ICT policies, the continent is a hotbed of investment, with several startups breaking the ceiling of billion dollar funding. So why hasn't venture capital taken off in Africa like it has in other countries? While these facts and figures are promising, reality paints a different picture. The market is far from reaching its full potential and young companies face a crucial challenge when it comes to developing their big ideas. One of their biggest obstacles is a deep-rooted cultural barrier that lies not in the lack of a strong pipeline or opportunities, but in the way the pipeline works. The scarcity of funding has created a culture of fierce competition among players in the region's nascent innovation ecosystem, who refrain from collaborating or sharing knowledge in their quest for a piece of the pie. The truth is that there is cake for everyone. The definition of an ecosystem is, after all, a collective of interconnected and interactive people and organizations. Without support and collaboration, the very notion of an ecosystem ceases to exist. Silicon Valley, Bangalore and Singapore are just a few examples of powerful innovation ecosystems that have become magnets for global talent. The common thread? Openness and sharing between the main stakeholders – incubators, startup accelerators, motivated entrepreneurs, venture capital companies, private investors, legal consultants, even research or academic institutions – and a culture conducive to entrepreneurship. For an innovation ecosystem to work, each of these actors has a role to play in sustaining an environment of co-creation and cross-collaboration. In Africa in particular, there is an urgent need for a fundamental improvement in relationship dynamics; the transition from a suspicious, secret and competitive climate to a favorable environment in which actors exploit each other's resources and knowledge to.