CAPE TOWN - Ahead of the annual Startupbootcamp AfriTech Demo Day on 8 November 2018, the Startupbootcamp AfriTech team hosted an exclusive event for leading investors from across the globe.
The top 10 startups selected for the accelerator had the opportunity to present to an audience of investors who, in turn, offered insight and advice into what they are looking for in startups.
The investors in attendance applauded the benefit of accelerators and incubators like Startupbootcamp AfriTech and the role it plays in connecting innovators to fast-moving corporates.
“I’ve been involved now for a couple of years in Startupbootcamp and it has really impressed me,” states Clive Butkow, chief executive of Kalon Venture Partners, at the Investor Premier, “You look at bringing some of the best human capital into Startupbootcamp, they took 1 000+ companies and brought it down to 10, so you’re really looking at the best of the best.
You’re not looking at the B-team companies and the B-team products, you’re looking at the best. That’s what differentiates Startupbootcamp from a lot of the other incubators and accelerators in the country, they do sieve out, qualify and take the best of these companies. And it’s encouraging to see the type of talent that Startupbootcamp is able to get to the point of getting into the final 10.”
Danai Musandu, Investment Associate at Goodwell, adds: “What is fundamentally important about an initiative like Startupbootcamp AfriTech is that they have the ability to scout for talent, where other people aren’t looking. We have saturation in Nigeria, in Kenya, and South Africa, but very often we don’t listen to the silent giants that are on their way in the 54 countries that are on this continent. Startupbootcamp has been really good at offering investors exposure to high-quality startups as well as in terms of bringing diversity in thought, diversity in gender and race, diversity in business plans and also bringing diversity in geographies.”
According to several investors at the Premier event, there are four significant things they look for in a startup. Team, Technology, Traction and Target Market.
A team (as opposed to a founder) is important as it is difficult to build a business by yourself. A startup in this space also needs very disruptive tech solving a significant problem. Investors also want to see that startups can prove traction and offer some validation that their product is solving a problem and that clients are buying. Lastly, the target market needs to be very large and addressable, ensuring a product that is able to scale in Africa, beyond Africa and across the globe.
“If you’ve got those four T’s, we’ll be having a more formidable discussion about investing in the company,” adds Clive Butkow.
Investors noted that platforms such as Startupbootcamp are good places to find pipeline and helps in terms of narrowing down applicants and offering a high-quality pool to select from.
“The work in Africa is still yet to be done, but we’re seeing the right movements in the right space and it’s great that Startupbootcamp has really plugged in and started to deliver a really good product with good investable companies for the future,” comments Danai Musandu.
The Investor Premier offered phenomenal insight into the world of early-stage investment in tech companies on the African continent. The conversation continues today as Startupbootcamp AfriTech readies themselves to present their final Demo Day where the top 10 African innovators will take to the stage.
Catch the Top 10 on stage via Facebook Live and experience the next wave of African innovation.
The 10 African innovators taking to the stage today are:
- Akiba Digital
- Brandbook
- Digitech Group
- Inclusive Innovations
- Kudimoney
- Lula
- Mpost
- Pago
- Prospa
- Sizanani.
Join the conversation by using the hashtags #sbcDemoDay and #SBCAfriTech.
Startupbootcamp AfriTech is anchored and endorsed by leading corporate sponsors Old Mutual, RCS, BNP Paribas Personal Finance, Nedbank and PwC.