Rising Tide Africa’s Post

Although my business and life are at capacity/overflowing I could not resist joining Luke Mostert and Karl Nchite at CatalyzeU. It is a common belief that gold, diamonds and minerals are Africa's largest resource. In 2024 Africa's most powerful resource is this unique younger generation who are educated, ambitious, creative and resilient. The problem is the lack of opportunities at home. Catalyze U thesis of doing training to be placed in Good jobs with a future based in USA or Europe (remotely) is timely.. I believe in CatalyzeU, their founders and most of all their mission. As I approach 70, every young African's life I can improve will become my legacy. I am confident I will be an integral part of this powerful mission. ****************************************************************************

How can African startups balance agility with accountability as we navigate the second half of 2024? This burning question was the central theme of our SOTIA H1 2024 live launch event last Friday.  Our incredible  panel moderated by Nubi Kay', (Startup programs lead Paystack), included: ◻ Christine Namara (Partner, Flat6labs' Africa Seedfund) ◻Matthew Davis (Co-CEO, Renew Capital) ◻'Tola Onayemi (CEO, Norebase) ◻Oluwatamilore Sowunmi (Associate, Aluko & Oyebode) Their diverse perspectives shed light on the ecosystem's "growing pains" – a crucial phase that demands a rethinking of corporate governance practices and procedures. These insights aren't just food for thought – but a call to action for everyone invested in Africa's tech future. Here are some quotes that sum up the session 👇 Want to learn more about the numbers behind these trends? Download our report here: https://lnkd.in/d5vv5Kp6

⏳ What is the average time it takes for African founders to raise their first round of funding? ⏳ 🤔 Still crunching on Africa The Big Deal data, I wondered what the famous "Valley of death" looked like for African founders. How many years typically pass between a startup's creation and their first raise of $500k-$1m? ⏰ The average is 2,7 years. It seems quite long to me, although I lack benchmarks from other ecosystems to fully assess this. If anyone knows what this number looks like in Latine America, Asia, or even Europe or the US, feel free to reach out in the comments. 💀 We often hear that African founders are bootstrappers by nature. 40% of all startups that announced their first fundraise of $500k-$1m in 2023 were 3+ years old. And only 11% raised in the year following their launch. ❗Disclaimer: the data is only provided with a launch year. Having a specific date (or at least a month and year) could improve the accuracy of the numbers provided.

👩🏻💻 The "average time" it takes an African founder to raise a first round. Thanks for pointing that topic out, Aude Juglard Your hypothesis is that having a specific date instead of just the launch year on the database could improve the accuracy of the numbers provided. It could, but hours spent analyzing this database with this extra layer of accuracy won't help much to understand the local realities, it would rather switch our "engineer bias" on (as Ricardo Baeza-Yates named it on one of his conferences) Africa is not one homogeneous monolithic block, each region within the same country has its specific boosters and blockers. Let alone a whole continent. A founder living in a capital city where all the networking events and main tech initiatives happen does not have the same environment as a founder living in a small town, for instance. But on a macro level, the context of Africa needs to be considered with the awareness that digitization itself is still at its early stage (for the masses of targeted users and customers, there's a lot of digital education to do). Numbers on a sheet are definitely not enough to come to conclusions about a startup's fundraising journey, as it won't tell you why investors saw that "they need more traction" before putting money. The legal landscape that is not really startup friendly is also a big obstacle for raising funds. But things are getting better, stakeholders are being more cooperative and awareness is being raised. Africa is the Big Deal, yes, this continent is full of potential... for those who have the patience to support those with the drive to get the work done. Calling insights from : SEGUN, Mor, Subomi, Mohamed, Nassiba, Sabrine, Mohamed

🔥 𝐆𝐢𝐯𝐢𝐧𝐠 𝐨𝐮𝐭 𝐭𝐰𝐨 𝐰𝐢𝐥𝐝 𝐜𝐚𝐫𝐝𝐬 𝐭𝐨 𝐚𝐭𝐭𝐞𝐧𝐝 𝐭𝐡𝐢𝐬 𝐓𝐡𝐮𝐫𝐬𝐝𝐚𝐲'𝐬 𝐢𝐧𝐯𝐞𝐬𝐭𝐨𝐫 𝐩𝐢𝐭𝐜𝐡 𝐜𝐨𝐚𝐜𝐡𝐢𝐧𝐠! 🔥 To all African Startups in our network who are currently looking for funding and are preparing to pitch before investors. In this 1 hour session you'll learn about the most important things you need to consider for the pitch! Send us a private message if you're interested in attending (requirements: Africa-based, < 10 years old Startup, tech-enabled business model) Meike Neitz | GreenTec Capital Partners | TEAM Africa

Niteonhq (Seedstars W23) at Seedstars Demo Day 2024 Creating the infrastructure that will serve as the cornerstone for countless African businesses venturing into new markets across Africa or internationally demands a blend of audacity and a deep sense of purpose. -Quality standardization -Technology security, and -Credit support are non-negotiable pillars in this endeavor. It's a challenge of unprecedented magnitude, but the potential rewards are equally immense. As founders who have grappled with this issue across two generations of exporters, it feels like a calling—a spiritual destiny driving our mission. What Africa needs most is an infrastructure-centric solution that empowers new startups in this sector to leverage our existing frameworks, fostering collaboration in a market ripe with opportunity. We're embracing this challenge head-on, fueled by our commitment to paving the way for future generations of African entrepreneurs.

🚀 Is there any better time than NOW for an aggregated database of nearly 100 financing opportunities, networks and value add resources for African diasporan founders & Africa-based ventures? Say less! - that database is here: https://lnkd.in/erwMz3JP This was a labor of love to support founders in the brave journey of building something new and impactful *INSPITE*- all the currents that go against an African diasporan founder or, founder building for the gain of the African person, which in turn shows the world what innovation & using tech for good can look like for the masses. This resource is for the founders' who are doing the work, and need support, for the founders' who didn't know they could be one in the booming tech ecosystem as a means to unlock a pathway to generational wealth...if you needed a sign to start a venture & go out there and meet the right people, this is it! (Filter by conference & get into those rooms). Learn more and add to the database by visiting here: fantatraore.com/database. Thank you to: Fadila Traore, current student at UPenn, for assisting with compiling & everyone in the ecosystem doing great work to create sustainable market based solutions. Special shoutouts to the following for the inspo: ✨ Founders @ Realist Lab, Black Ambition, Seedstars Africa Ventures ✨ Dream VC cohort mates ✨ My MVP on all things data & intersectionality Cassandra Duchan Solis ✨ Diasporan movers & shakers: Chi Achebe, Marie Rocha, Lina Kacyem, CPCU, Sharon M., Ijeoma Ejimadu, V. Chinyere Inya, Lydia Idem, Olayinka Osibodu, Jahleesa Phelps, Chidima S. Okorie, MA, PMP®,Daba Oruwariye ✨ The Africa Center ✨ Yale Black Venture Summit, Yale Africa Startup Review, Yale Africa Innovation Symposium *Don't keep the secret to yourself, re-share and let's get the word out ;).

Last year climate-tech and clean-energy startups in Africa raised almost 33% of funding made into African VC-backed companies. Climate tech-related funding also helped East Africa clinch the top spot as a recipient of VC capital. But it is still a far cry from what is needed. And funding is not everything. There are still a lot of unanswered questions from investors and entrepreneurs. So... next week we’re hosting our first #OfficeHours session to allow both investors and startup teams trade questions about what each group expects, does not understand and hopes to see. Every month we'll be hosting these thematic hybrid Ask-Me-Anything sessions in person and virtually for East Africa's innovators and investment communities. Join us on Tuesday Feb. 13 TIME: 4:00PM prompt. Norrsken House Kigali + Virtually Register early here: https://lnkd.in/d2KH6f-X

It’s #FunFactFriday! Did you know that female-founded startups are on the rise? Studies show that companies with at least one female founder perform 63% better than all-male teams. Today marks the deadline for our female founders accelerator program. A big thank you to everyone who applied. We can’t wait to have you join us! #FemaleFounders #EntrepreneurshipEmpowerment

Are you a founder with a passion for innovation and a vision for success? Umbrella connects you with the resources, mentorship, and funding you need to elevate your startup to new heights. Ready to take your startup to the nezt level? Join Umbrella where viable founders thrive! To get started, signup on useumbrella.com Why you should sign up on Umbrella 1. Gain access to a trusted network of Investors. 2. Enhance your investment readiness with tailored support. 3. Join a community of like-minded founders. 4. Learn from Africa's Top Founders. 5. Expert Guidance to Help You Grow and Scale. 6. Secure the Funding to Scale Your Startup. At Umbrella, we work with early stage, pre-seed and seed African founders across various verticals, connecting them to a network of successful investors, advisors, mentors, and partners to drive innovation, economic growth, job creation and solve problems in Africa.