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Comments on: Finding and Funding African Innovators http://whiteafrican.com/2009/09/02/finding-and-funding-african-innovators/ Where Africa and Technology Collide! Fri, 21 Dec 2018 15:55:40 +0000 hourly 1 https://wordpress.org/?v=4.9.24 By: Bancy http://whiteafrican.com/2009/09/02/finding-and-funding-african-innovators/#comment-8000 Wed, 13 Feb 2013 12:59:20 +0000 http://whiteafrican.com/?p=2851#comment-8000 This is quite an interesting and pertinent topic. I have been searching for funding for my ventures for about two years. The story is always the same: “We do not invest in non-revenue generating businesses, a.k.a. startups.” I have developed several business concepts, and would like someone to work with in terms of mentoring and partnership. My concepts range from education to financial inclusion to e-commerce, all with a focus on Africa. I have been fortunate to find a partner for the e-commerce concept, and I am now looking for partners for the education and financial inclusion concepts. Anyone interested can reach me via the email: ms[.]bancy[@]gmail[.]com. Thank you.

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By: INGANJI REUBEN S. KHADASIA http://whiteafrican.com/2009/09/02/finding-and-funding-african-innovators/#comment-7999 Thu, 20 Sep 2012 05:31:30 +0000 http://whiteafrican.com/?p=2851#comment-7999 Through innovations it is the only way out of our problems and challenges we are facing which shall be reduced and empowerment of mankind in the society

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By: INGANJI REUBEN S. KHADASIA http://whiteafrican.com/2009/09/02/finding-and-funding-african-innovators/#comment-7998 Thu, 20 Sep 2012 05:27:45 +0000 http://whiteafrican.com/?p=2851#comment-7998 Innovation is key in this sector and if only funding has to be availed at certain innovations which can stirrer Africa to great heights where we are all heading too.

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By: The Network Africa Concept Paper « Ideation Station http://whiteafrican.com/2009/09/02/finding-and-funding-african-innovators/#comment-7997 Mon, 10 May 2010 19:51:28 +0000 http://whiteafrican.com/?p=2851#comment-7997 […] entreprenuership infomation specific to Africa of late, all one has to do is go through the golden thread @whiteafrican.com to find out more. I’m also glad it has been highlighted on the golden […]

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By: Solving Startup Funding in SA | Afrinnovator.com http://whiteafrican.com/2009/09/02/finding-and-funding-african-innovators/#comment-7996 Mon, 08 Mar 2010 15:14:35 +0000 http://whiteafrican.com/?p=2851#comment-7996 […] the up and coming tech/innovation hubs in Africa. It's definitely true of Kenya (from experience). Erik Hersman (Whiteafrican) wrote about Finding and Funding African Startups and explored this issue to some […]

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By: solomon http://whiteafrican.com/2009/09/02/finding-and-funding-african-innovators/#comment-7995 Mon, 28 Sep 2009 09:22:21 +0000 http://whiteafrican.com/?p=2851#comment-7995 The industry needs a wow story : agreed.
The sharpest developers end up working for the non-profit sector : agreed.
I think the problem we have here is because we think that cash is the only capital you need. I totally disagree. What we need is one killer app that someone/s will make that will be so successful that it will make him/her leave their daytime jobs because it is paying better.
Someone can start a project online, lease some hosting space, upgrade later to a dedicated server as biz grows. That will be the fairy tale that we need.

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By: Andrea Bohnstedt http://whiteafrican.com/2009/09/02/finding-and-funding-african-innovators/#comment-7994 Mon, 14 Sep 2009 18:26:20 +0000 http://whiteafrican.com/?p=2851#comment-7994 I’m not sure lack of funds is really always the restriction – look at e.g. the amount of money that groups like Transcentury are able to raise (without wanting to go into their political connections etc), and at the amount of money that small retail investors were able to raise to buy shares in the Safaricom IPO (without wanting to go into the whole issue of borrowing to buy shares etc). There is a lot of money around, and I regularly meet employed or self-employed Kenyans who invest in smaller ventures. These are people who are ‘on the ground’ – they live here, they understand this place. They don’t need a reminder about the need to understand Africa. Have you spoken to them why they rarely invest in start-up tech ventures?

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By: Mbugua Njihia http://whiteafrican.com/2009/09/02/finding-and-funding-african-innovators/#comment-7993 Sun, 13 Sep 2009 14:45:42 +0000 http://whiteafrican.com/?p=2851#comment-7993 s just as worrying is that many of the more ambitious tech entrepreneurs also find it easier to tailor their killer apps for the non-profit sector. I’m sure we all look forward to a time when writing a solid business plan becomes more profitable than writing a sexy grant proposal" "A success story! A hugely successful East African (not South African) start-up. It doesn’t matter whether it’s acquired by Google, or has its own successful IPO. This sector needs a Wow! story within the next two years. There’s nothing like a well publicised “fairytale” of a few bright kids from Nairobi or Lusaka making millions to spur the imagination of both potential investors and developers alike" I have come to the knowledge that after a certain period of time, it is no longer about talent and brains but about opportunity. The only way that the success stories will come from Kenya, Uganda and Tanzania is when the talent meets opportunity. Otherwise "less talent" will meet the very same opportunity and while "less talent" will not have the killer app or execution they will have the opportunity to roll out and with rolling out comes the revenue... if any, then the refining of the product or service and eventually the service is entrenched and revenues grow. Techies need to stop meeting with techies in this respect.Techies need to learn additional skills or partner with individuals who can package the products and services to appeal to "the opportunity". The other thing is that they must not hang too tightly to the their concept product in a manner that will stifle "the opportunity". Grow your network...knock on those "ooh it will be impossible to get a meeting with person X" doors. Ask for 30 min.....if you can't sell the value of your product or service in under 30min...then either theirs a problem with your presentation but more often that not it will be with the product. Work your elevator pitch. Be flexible and run with the punches, but at the end of the day, cover your bases and be smart. That said, we are looking forward to be the "WOW" for Kenya.You will be in the loop HASH :-)]]> Was catching up on your blog and also hit Sean’s link on (of Chembe Venture aka Afrcafeed) – http://bit.ly/Y1Mas.
Two points from both your post and Sean’s

“HASH pointed out many of the sharpest coders end up working for multinationals or NGOs. What’s just as worrying is that many of the more ambitious tech entrepreneurs also find it easier to tailor their killer apps for the non-profit sector. I’m sure we all look forward to a time when writing a solid business plan becomes more profitable than writing a sexy grant proposal”

“A success story! A hugely successful East African (not South African) start-up. It doesn’t matter whether it’s acquired by Google, or has its own successful IPO. This sector needs a Wow! story within the next two years. There’s nothing like a well publicised “fairytale” of a few bright kids from Nairobi or Lusaka making millions to spur the imagination of both potential investors and developers alike”

I have come to the knowledge that after a certain period of time, it is no longer about talent and brains but about opportunity. The only way that the success stories will come from Kenya, Uganda and Tanzania is when the talent meets opportunity. Otherwise “less talent” will meet the very same opportunity and while “less talent” will not have the killer app or execution they will have the opportunity to roll out and with rolling out comes the revenue… if any, then the refining of the product or service and eventually the service is entrenched and revenues grow. Techies need to stop meeting with techies in this respect.Techies need to learn additional skills or partner with individuals who can package the products and services to appeal to “the opportunity”. The other thing is that they must not hang too tightly to the their concept product in a manner that will stifle “the opportunity”. Grow your network…knock on those “ooh it will be impossible to get a meeting with person X” doors. Ask for 30 min…..if you can’t sell the value of your product or service in under 30min…then either theirs a problem with your presentation but more often that not it will be with the product. Work your elevator pitch. Be flexible and run with the punches, but at the end of the day, cover your bases and be smart.

That said, we are looking forward to be the “WOW” for Kenya.You will be in the loop HASH 🙂

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By: Louis http://whiteafrican.com/2009/09/02/finding-and-funding-african-innovators/#comment-7992 Fri, 11 Sep 2009 05:41:07 +0000 http://whiteafrican.com/?p=2851#comment-7992 Not all ideas and innovations are businesses – they can be sold to add value to existing businesses and processes – hence we need to encourage local corporations to invest in local R&D. So that
a) innovators have an outlet,
b) develop the technology absorption capacity – and that is important because most corporation in Kenya rely so much on turnkey solutions such that even if you came up with an innovative piece of software it would be a problem integrating it into there existing process.
c) More option for innovators because not all innovators are entrepreneurs

10yrs ago most companies did not have a CSR component to there business and then it became fashionable – we can make it fashionable for companies to invest n R&D

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By: Techmasai http://whiteafrican.com/2009/09/02/finding-and-funding-african-innovators/#comment-7991 Mon, 07 Sep 2009 13:04:44 +0000 http://whiteafrican.com/?p=2851#comment-7991 I think the problem still has to do with the low availability of seed investors not to mention the lame infrastructure which is keeping the investors from investing in some parts of Africa in the first place.

i loved your article however.

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