Sure, Silicon Valley may be the first place that comes to mind when you think about startups, but is that really still the prime location to launch a startup these days? If you have entrepreneurial dreams, you’ll want to consider Mauritius. The country ranked among the first countries in Africa and surely has a lot to offer for « Techpreneurs ». When considering where to startup, you might want to think about the following :
Funding ( Including investor, loans & government grants)
Why ? because Startups can work for years before they earn profits. That’s why so many rely on funding. Without funding, startups cannot develop products and services that will eventually make the company profitable. Even though you may not think that there are not many financing opportunities in Mauritius there are still some chances that you will get your project financed. You will find investors, business angel, loan with discounted rates and other schemes and/or incentives to push local and international entrepreneurs to invest and start projects on the Island.
Tech startups rely on a educated workforce that understands how to develop new ideas and follow complex directions. It is obvious that Mauritius as an Island will suffer a shortage of resources but the government has already set-up measures in order to facilitate the recruitment of foreign expertise in the ICT sector. With large area of recruitment in the region such as Madagascar, Kenya, South Africa and Reunion Island… places with both high level of education and unemployment rate more and more foreigners are coming to Mauritius to work in the fast developing sector of ICT. Another interesting factor is the highly qualified Mauritian Expats who used to work and study abroad that are returning to the Homeland after years from Europe, Asia or the states to escape the bad economy and are starting business in Mauritius.
Quality and cost of life
Low cost of living often means that startups pay less for offices, labs and commercial property but can also mean terrible living conditions. In many cases it is also means that companies can pay employees less without affecting their quality of life. Living cost in Mauritius is relatively low: rents and food are not as cheap compare to place like South Asia but are a way cheaper than place like Europe. Living conditions are very good; education, health and infrastructures are well developed across the Island. In a nutshell living in Mauritius is a very enjoyable.
Startups needs the stability of a healthy economy. Without economic health, there are to many uncertainties that can force startups to take fewer risks and slow progress. The island is showing a constant growth over the past decades and very positive economical indicators. The Mauritian middle class buying power is increasing and all indicators seems to be very positives.
Low corporate taxes
Low corporate taxes let successful startups devote more money to researching and developing new ideas instead of paying the government. A perfect tax environment for startup maybe one of the best advantage Mauritius has to offer to entrepreneurs. Laws and Tax in Mauritius are really business friendly.
Opportunities in the environment
Startups are filling the void in the society and creating new ways of consuming services. In Mauritius there are plenty of undiscovered opportunities for the new ventures and it is just the beginning.