{"id":39077,"date":"2023-11-22T17:16:43","date_gmt":"2023-11-22T17:16:43","guid":{"rendered":"https:\/\/www.africa-press.net\/botswana\/?p=39077"},"modified":"2023-11-22T16:24:30","modified_gmt":"2023-11-22T16:24:30","slug":"africa-tech-festivals-africaignite-unpacks-top-tips-for-start-ups","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/botswana\/all-news\/africa-tech-festivals-africaignite-unpacks-top-tips-for-start-ups","title":{"rendered":"Africa Tech Festival\u2019s AfricaIgnite Unpacks Top Tips for Start-Ups"},"content":{"rendered":"

Africa-Press – Botswana. <\/strong><\/span>Delegates at Africa Tech Festival 2023 in Cape Town were given a master class on the dos and don\u2019ts of fundraising Wednesday 15 November, during several sessions at AfricaIgnite, the festival\u2019s dedicated start-up zone. And surprisingly, establishing a good rapport with potential funders came out as the top tip.<\/b><\/p>\n

Said Eric Osiakwan of Chanzo Capital: \u201cInvestors look for chemistry and that comes from your storytelling. Ask yourself, how do I make a connection with a person which is less transactional? Tell them what you are doing and why you are doing it. After the initial connection, the rest becomes easier. But you have to tell your investor something that sticks out and stays in their mind, something unique.\u201d<\/p>\n

Joining the list of reasons why investors say \u201cno\u201d, is not having enough information at hand. \u201cLast year I spoke to over 100 start-ups who complained they were just not getting funding. I went on a road show to find out why, and investors say they just aren\u2019t getting enough information during pitches. You have one shot in that room to present. There is no harm in, before your pitch, sending an email to see what they require from you,\u201d said Lara Rosman of UVU Accelerate.<\/p>\n

Keshni Morar, of Investable outlined the different types of funding. \u201cAngel funders usually take the first level of risk, so they expect a lot, while VCs will first have a talk with LPs [limited partners] to see if there is potential for growth. Private equity investors look for a company that is stable, is growing and has a good income. The important thing is you have to choose the appropriate fundraising for the stage that your company is in.\u201d<\/p>\n

Sherif Nessim, of Jedar Capital, says timing is imperative. \u201cYou need to know when to start raising funds, what type of equity and value. And don\u2019t raise more than you need. Also consider what amount you want to raise and how much equity you want to give away.\u201d<\/p>\n

Painting a picture for tomorrow requires investment today.<\/p>\n

Africa\u2019s burgeoning creative economy was also spotlighted on Wednesday, with Felix Orevoghene Alaita, noting that a lack of funding for Africa\u2019s creator economy is due to investors not believing in content made in Africa. Alaita, who is a retired army colonel, now turned tech start-up founder who also owns a creative hub, movie, and music studio in Nigeria, said: \u201cThe value you bring to government coffers is minimal. We must push to make the industry more visible. We can\u2019t rely on government to assist so we need to align ourselves to the right people.\u201d<\/p>\n

But another hurdle for Africa\u2019s creative economy to overcome, is convincing those with the deep pockets to see this sector as a viable and sustained industry that can deliver returns. \u201cThe creative industry is created by perception like how successful it will be, potential income… So, it\u2019s difficult for people to believe in this. It\u2019s not like a tangible thing like a toll road that you invest in,\u201d said Derrick Ashong, CEO of TBTM.<\/p>\n

During the panel discussion, Funding Gaps in the African Creator Economy, Ashong said all aspects of Africa\u2019s creator economy are underfunded. \u201cWhat you are in fact selling is your intellectual property. There\u2019s a lack of capital overall because there\u2019s a lack of understanding that investors are investing in intellectual property,\u201d Ashong said.<\/p>\n

Guy Kamgaing, StarNews Mobile CEO, agreed: The essence of entertainment comes out of Africa. Once you understand just how much is coming from Africa, you\u2019ll realise we have to create a lot of instruments (to highlight the industry).\u201d<\/p>\n

Ashong suggests that African creators are too \u201chyper-local\u201d. \u201cOne of the biggest missing elements, is the inability to create content that appeals globally. We have to make it more relatable, so we can aggregate enough audiences. You can\u2019t tell me African creators don\u2019t have the wherewithal to stand up globally …. Africa is an intellectual property factory.\u201d<\/p>\n

Kamgaing countered that it was important for creators to first make money in Africa before doing so abroad. \u201cThey need to make money in Africa first. Americans make their money there and the Koreans make their money in Korea,\u201d he said.<\/p>\n

Africa Tech Festival continues Thursday 16th November with yet more incredible content including the exciting AfricaIgnite Pitch Competition, which will see one lucky winner make their way to the USA to battle it out for USD 1 million investment in the final of the Pegasus Start-Up World Cup.<\/p>\n

For More News And Analysis About Botswana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Botswana. Delegates at Africa Tech Festival 2023 in Cape Town were given a master class on the dos and don\u2019ts of fundraising Wednesday 15 November, during several sessions at AfricaIgnite, the festival\u2019s dedicated start-up zone. And surprisingly, establishing a good rapport with potential funders came out as the top tip. Said Eric Osiakwan […]<\/p>\n","protected":false},"author":84,"featured_media":39076,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,9],"tags":[233,237,234],"class_list":["post-39077","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-miscellaneous","tag-africa-press","tag-africa-press-botswana","tag-botswana"],"yoast_head":"\nAfrica Tech Festival\u2019s AfricaIgnite Unpacks Top Tips for Start-Ups - Botswana<\/title>\n<meta name=\"description\" content=\"Delegates at Africa Tech Festival 2023 in Cape Town were given a master class on the dos and don\u2019ts of fundraising We ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/botswana\/all-news\/africa-tech-festivals-africaignite-unpacks-top-tips-for-start-ups\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Africa Tech Festival\u2019s AfricaIgnite Unpacks Top Tips for Start-Ups\" \/>\n<meta property=\"og:description\" content=\"Delegates at Africa Tech Festival 2023 in Cape Town were given a master class on the dos and don\u2019ts of fundraising We ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/botswana\/all-news\/africa-tech-festivals-africaignite-unpacks-top-tips-for-start-ups\" \/>\n<meta property=\"og:site_name\" content=\"Botswana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-22T17:16:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/botswana\/sites\/38\/2023\/11\/sm_1700657490.100874.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/africa-tech-festivals-africaignite-unpacks-top-tips-for-start-ups#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/africa-tech-festivals-africaignite-unpacks-top-tips-for-start-ups\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Africa Tech Festival\u2019s AfricaIgnite Unpacks Top Tips for Start-Ups\",\"datePublished\":\"2023-11-22T17:16:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/africa-tech-festivals-africaignite-unpacks-top-tips-for-start-ups\"},\"wordCount\":776,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/africa-tech-festivals-africaignite-unpacks-top-tips-for-start-ups#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/botswana\/sites\/38\/2023\/11\/sm_1700657490.100874.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Botswana\",\"Botswana\"],\"articleSection\":[\"all news\",\"miscellaneous\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/botswana\/all-news\/africa-tech-festivals-africaignite-unpacks-top-tips-for-start-ups#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/africa-tech-festivals-africaignite-unpacks-top-tips-for-start-ups\",\"url\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/africa-tech-festivals-africaignite-unpacks-top-tips-for-start-ups\",\"name\":\"Africa Tech Festival\u2019s AfricaIgnite Unpacks Top Tips for Start-Ups - 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