37 new malagasy startups were selected to receive training and support given by Fivmpama in August 2017. After six months spent venturing into the field, these startups are now conquering the national market.

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Malagasy startups are supported

Vaonala, Créativeo, Profiler, Manjary … These are examples of startups selected after competition by the Fivmpama (Group of Malagasy entrepreneurs) in collaboration with the International Labor Organization (ILO) to receive training. In total, 37 startups were trained last August on entrepreneurship and business.

malagasy startups

Eric Rajaonary, the President of the Fivmpama, opened the ceremony last Friday at the United Nations building Andraharo.
cc: Book News Madagascar

Founded by nascent young entrepreneurs, these startups operate in a wide variety of fields: agriculture, essential oils, textiles, breeding, ICT, etc. There are 18 product companies and 19 service companies.

Very promising, they represent models of creativity and innovation, and can contribute to the economic growth of the country in the years to come, as Christian Ntsay, ILO Country Office Director for Madagascar, said on Friday during the presentation ceremony at Andraharo.

malagasy startups

Christian Ntsay, ILO Country Office Director for Madagascar, last Friday at the United Nations building Andraharo.
cc: Book News Madagascar

The Fivmpama and the ILO have decided to support these startups financially as part of their formalization. 94% of enterprises operating in the informal sector in Madagascar, business formalization is among the priorities of the Malagasy Government.

Problem of paperwork in the formalization

Currently, 12 trained startups have been able to integrate the formal sector, as Mino Andriamijoro, the President of the Youth Commission at the Fivmpama, explained.

37 new startups

Mino Andriamijoro, the President of the Youth Commission at the Fivmpama.
cc: Book News Madagascar

“The main problem of business formalization for these young people lies in the finding of a lease contract. Many of them want to formalize but have a problem with the lease agreement. They have asked us for solutions, but until now, we have only been able to help them find a place of domiciliation. Yet, these legal adresses are expensive, and even cost more than than renting an office”, said Mino Andriamijoro, very insistent about the future of these newly created startups.

According to Nathalie Rakotoniaina, a start-uper, the big problem lies in obtaining the documents for the lease contract: title of ownership, legal certification, etc. In addition to the small paperworks that are already difficult to obtain for various reasons, obtaining this kind of document is very difficult for administrative and personal reasons, the owner of the home to rent being often another person than the project leader.
Startups are experiencing a slowdown in their activities following the problem of obtaining paperwork.




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