With the growth of tech hubs and co-working spaces across the country, it’s even more exciting to hear of larger and more beneficial and daunting projects in the pipelines. About 4 years ago, rLg lifted our hopes to build a Hope City but guess what… all hope has been lost as at now. Silicon Accra is a new tech city project that wants to be different, and is more likely to happen.
The Silicon Accra project, to be located at East Legon Hills in Accra, is expected to be completed by 2021, with $50 million to be invested in technology start-ups for the next 10 years. The project is a 60-acre, master-planned, mixed-use, “walkable” city designed with the objective of promoting collaboration, cohesion and creativity and anchored in creating a city, a fund and a community.
Like most tech city projects, Silicon Accra will be home to several startups, multi-national organisations, and research institutions. Unlike most tech cities, this project will not be the sole responsibility of one organisation. Even though Silicon Accra will lead the project, organisations will submit their plans for perusal by the team. The company would invest $10 million in developing the core infrastructure, including access roads, sustainable energy (electricity and solar energy), water and fibre-optic lines for fast Internet service.
David Osei, CEO of Silicon Accra, explains, “We are not bearing the total cost that will bring up the city. We are open to companies that will bring up their designs; we vet them to suit our plan and they build.”
Clever! That way, the city still gets to be built but with more collaboration and financing from other companies. For the team, although the project was targeted at all sectors of the economy, its main focus was financial innovation, healthcare, education and agribusiness. Financial innovation has seen a lot of talk lately. A lot. But now that IoT is in the news more, things could change pretty soon.
The project was launched at a Stakeholders’ Meeting at the Labadi Beach Hotel on Monday. For more details about Silicon Accra, visit the project website at visitsiliconaccra.com
If you remember quite well, David Osei was CEO of Dropifi, a Startup Weekend Accra alum and the first African company to make it into 500 Startups. He then moved on to found SmarterTree, a company that links private African companies to investors [mostly] in the Valley, and was one of the brains behind AfriKoin last year. If his past records are anything to go by, this project should prove successful and be able to generate the income it needs to be self-sustainable.
To David and his new team, all the best.