Investment vehicle to fund technology-based security initiatives in Africa
A civil society organisation dedicated to using technological approaches to fight crime and improve security in Africa has just had its efforts boosted by an over $1million capital injection from a Silicon Valley venture capitalist organisation.
The Technology Against Crime in Africa (TAC Africa), a non-government organisation connecting law enforcement, security experts, and civil society to solve security issues that affect the African continent using technology has just announced a partnership with American venture capital accelerator GSDLabs to assemble a fund to stimulate growth in the African security space by investing in talented founders who historically have not had the same privileged opportunities for success.
In this vein, the TAC Africa is organising a first-of-its-kind $1million investment vehicle to deliver significant capital appreciation by investing in extraordinary African start-up companies focussed on developing technological security solutions that use Drones, Cybersecurity/Defense, AI, Robotics, Blockchain, and Technology for Social Good.
“TAC Africa is wholly committed to developing the African security space,” said Jerry Akubo, CEO and Founder of TAC Africa. “We recognise the importance of nurturing entrepreneurs who can launch disruptive, successful ventures in areas ripe for innovation. We are confident that African security entrepreneurs will have the tools to guarantee success with GSD’s proven venture building formula.”
Drone technology has of late been making steady steps in the security industry in Africa, with a number of police and security organisations deploying the unmanned birds to boost the efforts of physical manpower on the ground.
The Namibian Police Force, for example, recently added a second drone to its fleet, while in South Africa, the traffic police dabbled with drone deployment to help its traffic officers during this year’s Easter holiday. In the private security industry, the operations are more comprehensive, with companies like Drone Guards, Fidelity Security Services, TRSS in South Africa; as well as the Weesure Group in West Africa, actively using drone technology as part of their security solutions to clients.
According to Derek Distenfield, Co-Founder and Chief Operations Officer at GSD Venture Studios (the parent company of GSDLabs), the potential for technological growth in the African security space is huge.
“We see tremendous potential for the development and growth of the security space in Africa and Beyond,” Distenfield said. “We couldn’t be more excited to partner with TAC Africa and be one piece of the puzzle to their success”
Founded in 2016 and headquartered in Abuja, Nigeria, the TAC Africa brings together representatives from the worlds of technology, security, and industry to develop technological responses to evolving security challenges throughout Africa.
GSD Venture Studios, on the other hand, is a Silicon Valley-based firm, led by CEO Gary Fowler and COO Derek Distenfield. Gary and Derek travel the world to locate and cultivate promising start-ups locked out of Silicon Valley due to political, social, and cultural dynamics. GSD has long-standing ties in the African tech space and has accelerated several promising African start-ups as a result of Derek’s travels to the region.
“We travel the world investing in resilient teams bold enough to #GoGlobal,” Fowler says of his organisation. “For too long, self-motivated entrepreneurs have struggled to navigate the minefield and challenges of launching a global company. The next generation of African innovation is set to emerge, and GSD is positioned to energise Africa’s immense tech talent and expose them to our global network in conjunction with TAC Africa.”