Madagascar, despite its large population and potential, struggles to establish a vibrant startup ecosystem. The country faces challenges such as limited access to capital and a concentration of economic activity in the capital city, which hinders the identification and scaling of startups. However, there are some success stories, including SAYNA, an edtech and freelancing platform, and WeLightAfrica, a solar energy solutions provider, which have secured significant funding. To accelerate the growth of the ecosystem, stakeholders emphasize the need for government support through policies that promote innovation and entrepreneurship, as well as increased availability of early-stage capital from venture capital funds. Addressing demographic concentration and informal economy issues, with support from development finance institutions, is also crucial. Educating Malagasy innovators to think beyond building solely for Madagascar and embracing international scalability is seen as another important aspect. Despite the challenges, Madagascar's vast potential, geographical expanse, large population, vibrant informal sector, and technical talent offer opportunities for a thriving ecosystem with collaborative efforts.

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