Innovative ideas come from everywhere , but there is a reason Silicon Valley is home to the most prolific startups . The truth is , it takes more than just ambition and a great idea to get your business off the ground . Small businesses often face a multitude of speed bumps that prevent them from living up to their full potential : from lacking access to finance or resources to establish their brand , to navigating complex regulations . Alone , they cannot move up the ladder . Instead , their success hinges on interactions between investors , competitors , established corporate giants , knowledge institutions like universities or research centres , startup incubators and accelerators , government bodies and an open business culture . This collaboration , in turn , attracts new talent and breeds a new generation of startups , creating a virtuous cycle of innovation in which every player comes out a winner .
Indian Ocean islands have made leaps and bounds in this prospect , going from fragile societies in which small businesses were dependent on personal connections to succeed , to building communities that help SMEs prosper . Over time , a “ winner takes all approach ” has given way to mutually beneficial relationships between all players of the ecosystem .
In Mauritius , for instance , where SMEs are key propellers of the economy and represent over 50 % of employment , a number of business-friendly policies are encouraging foreign entrepreneurs to set up their business on the island . Bulle Digitale , built by two French entrepreneurs , is a case in point . “ Beyond its obvious ideal location at the crossroads of Africa and Europe , there is a real entrepreneurial culture in Mauritius ,” explains Grégoire Laqueille , co-founder and COO . “ From our humble beginnings as a two-person company back in 2015 , we have grown into the full-fledged digital marketing company known as Bulle IKCS today . The government lends great support to SMEs , particularly those in the ICT sector like ourselves , who benefit from enabling policies and grants .”
La Turbine , a startup incubator , has also seen an increase in the number of young entrepreneurs who have the ambition , but lack the means to pursue their venture . “ Running a business can be lonely . Beyond the financial aspect , entrepreneurs are hungry for non-financial community support : how to turn an idea into a business plan , creating a value proposition , market research , mentoring and coaching with experienced entrepreneurs , legal advice ... In 2017 alone , our pre-incubator programme turned 54 projects into well-formulated , viable business models ,” shares Diane Maigrot , La Turbine ’ s Business Growth Manager .
Though the SME sector is still in its burgeoning stages in Reunion , the island has all the prerequisites for small businesses to thrive . The persistently high unemployment rate over the years has ignited an entrepreneurial flame amongst millennials , who are more determined than ever to emerge from their state of unemployment . Their solution ? Build their own business . Reunion is now bustling with entrepreneurial activity , spurring the creation of over 115 business parks , technology parks focused on high added-value activities , 8 innovation centers , world-class educational institutions , cutting-edge research facilities and a number of incubators , such as La Technopole de La Réunion or Entrepreneur Péi .
In countries like Mauritius , Madagascar and Reunion , where entrepreneurship is almost innate , simply funding great ventures is the equivalent of a band-aid fix . In contrast , a supportive ecosystem cultivates more knowledge , more innovation , more investment opportunities — enabling entrepreneurs to stack the odds of success in their favour .
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