LocalGlobe and Pronomos Capital back Itana to pave the way for Africa’s first digital free zone 🌍🆓
Iyinoluwa Aboyeji, co-founder of Andela and Flutterwave, is working on a groundbreaking project in Africa - Itana, formerly Talent City. It's set to become Africa's first digital free zone. 🚀
📌 Vision: Itana aims to provide a digital haven for startups to scale across Africa, bypassing challenges like unstable policies and infrastructure gaps.
💰 Funding: Itana secured a $2 million pre-seed to establish this digital free zone, promoting ease of doing business and catalyzing employment in Nigeria.
🌐 Virtual City: While waiting for its physical city to be finalized, Itana is launching Itana Edge, an online one-stop-shop for international businesses. It offers benefits such as taxation, business visas, and banking support in Nigerian free zones.
🌆 Silicon Valley Ambitions: Itana seeks to become Africa's Silicon Valley, supporting a range of services and digital economies.
📅 Timeline: The pilot will start soon, with plans to go live in Q1 2024, featuring a live-work-build campus known as Itana District.
💼 Revenue Streams: Itana plans to generate revenue through annual business licenses, on-demand services, and more, sharing profits with the government.
🌟 Support: Several factors, including favorable regulations, growing tech ecosystems, and government support, could contribute to Itana's success.
🤝 Investors: Backed by venture funds like LocalGlobe, Amplo, and Pronomos Capital, Itana is poised to reshape Africa's digital landscape.
#AfricaTech #DigitalEconomy #Startups #Innovation 🌐🚀
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