Technology hub debuts in Cape Verde, ambitions set on establishing the archipelago as the pioneer of Western African technology sector
Cape Verde has unveiled TechPark CV, a new tech hub valued at €45.59 million ($49 million), with the ambitious goal of positioning the archipelago as a digital innovation hub connecting Africa, Europe, and the Americas. The project is expected to drive regional digital transformation, as stated at its launch event, which was attended by high-profile speakers such as Cape Verde's Prime Minister Ulisses Correia e Silva and AfDB President Dr. Akinwumi Adesina, alongside other prominent figures from the global tech sector [1][2][3].
TechPark CV spans two campuses: Praia (Santiago Island) and Mindelo (São Vicente Island). The tech hub offers a range of facilities, including coworking spaces, training centres, conference halls, and high-speed connectivity. It is designed to accommodate up to 1,500 workers [4].
The project aims to foster a community where technology drives economic growth and sustainable development, as stated by Carlos Monteiro, President of TechPark CV. The hub is positioning itself as a hub for emerging technologies like AI, blockchain, fintech, big data, and IoT [5].
One of the key objectives of TechPark CV is to accelerate the growth of startups and digital businesses by providing infrastructure, mentorship, and legislative and financial support. This includes initiatives like BOOST.CV and the Startup Act [1][4]. The project also aims to empower young and female entrepreneurs, thereby enhancing human capital and innovation capacity across West Africa [1].
By developing a sustainable tech ecosystem, TechPark CV aims to contribute to economic diversification and resilience in the region. It aspires to become a strategic hub for emerging technologies in West Africa, serving as a platform for startups and digital businesses to grow [2][4][5].
The African Development Bank (AfDB) supports the project, viewing it as a launchpad for African startups and a bridge between continents in the global digital economy. The location of TechPark CV in the mid-Atlantic and the spirit of morabeza (Cape Verdean hospitality) further contribute to its aspirations [3].
TechPark CV is currently home to 23 companies, with over 300 companies, including Intel, Microsoft, and Smart Africa, attending its launch. The project is nearly 2% of Cape Verde's GDP, demonstrating the nation's commitment to digital transformation [1][2][6].
In summary, TechPark CV is designed as a strategic enabler for Cape Verde to lead regional digital transformation by linking local and international stakeholders, accelerating entrepreneurship, and fostering innovation ecosystems that reach beyond national borders to West Africa and global markets [2][4][5].
- The tech hub, TechPark CV, located in both Praia (Santiago Island) and Mindelo (São Vicente Island), intends to become a strategic platform for the growth of businesses, particularly in the fields of finance, technology, and digital, by offering infrastructure, mentorship, and financial support.
- Positioned as a hub for emerging technologies like AI, blockchain, fintech, big data, and IoT, TechPark CV aims to accelerate the growth of startups and digital businesses in West Africa, thereby driving regional digital transformation and enhancing human capital and innovation capacity.
