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Vc&pe roundtable deck march


i/o ventures in Africa and Technology opportunities in East Africa

i/o ventures in Africa and Technology opportunities in East Africa

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  • We believe the next big tech companies may not necessarily come from Silicon ValleySingapore Spring ProgramStartup Chile20% of all tweets originate from BrazilTalk about Brazilian dude who ended up coming to SF to intern on an iPad now and is now an engineer at Uber- just raised $11M 2 weeks ago- get a quoteRovio
  • A number of countries in East Africa are diversifying and in transition with a growing middle class. Over 35M in East Africa with monthly incomes over $350Wal-Mart Stores Inc. has agreed to pay nearly $2.5 billion to buy 51% of South Africa’s Massmart Holdings Ltd., with plans to use the discount retailer as a foothold for continental expansion.
  • Mobile gap will close and turn those subscribers into the mobile web/mobile appsAirtel acquisition of ZAIN- $10.7B in 2010.EACP- $100M, Fanisi Capital $50M
  • Consultative Group to Assist the Poor41% is traditionally informal25% of Kenya’s GDP slows through m-bankingMobile banking acts as a defacto Identity system1M out of 45M in Tanzania have bank accounts, 20M have phonesBetter tax collection by Governments
  • Bridge is funded by Omiydar networkSafaricom as one of the biggest IPOs in SubSaharan Africa
  • Press generated trust and even brought out diaspora working all parts of the world including silicon valley- key talent to tap later on.2ndMobileMonday, 100+ attendanceHelps limit corruption – anything fishy gets escalated to the President’s OfficeRussell Simmons, Cofounder of Yelp, first engineer at paypal.Bakhresa Group- $300M revenue company in East Africa
  • More mentor trips.Help build a sustainable incubator run by the private sector.Fill the gap in Angel investing & mentoring across the regionAttract the best regional companies in East Africa to Dar es Salaam incubatorBuild Managerial and Technical CapacityRaise a $5-10M first seed fund (i/o ventures)Replicate the Accelerator Program locally with more “patient capital”
  • Nokia sells 80M handsets a year in Middle East & Africa.Atleast 5 incubators in Africa (Senegal, Mozambique, South Africa, Tanzania, Kenya)Samsung is growing dramatically across all category of devices from HDTVs to phones (20% share)- opened an engineering school In South Africa
  • Things that have been denied or out of reach for reasons more than income but infrastructure Mobile health has massive potential to be bigger in Africa due to legacy/leapfrogging issues. Less regulation (HIPPA) etc…
  • Public Private Partnership helps with initial incubation tax break, regulation & future scaling post pilotLeapfrogging trend in mobile to accelerate service delivery cost effectively at scaleRemote learning, training and management Information & Supply Chain systems critical to success “SMS for Life” program targeting data collection to reduce pharmaceutical stock-outs for anti- malaria drugs….….reporting of inventory & motivating data submitters through a proto- currency of airtime, the six-month trial reduced stock-out rates from 95% to 6%- serving extra 300,000 patientsThe surgeon is taking advantage of a growing mobile-banking industry, using his cell phone to send money [for Transport] via SMS to Tanzanian women suffering from fistula- CNNLocalizedSaaS and app offeringsHosted on a Govt cloud?
  • EGG is the “netflix of batteries” a mesh business for the last mile of connectivity for the urban areas.


  • 1. Opportunities in East Africa
    Paul Bragiel: Partner
    Mbwana Alliy: Africa Lead
  • 2. i/o ventures
    Angel Investment firm founded in 2009/2010
    Heavy on mentorship with a great network
    A funky space in the Mission district, San Francisco
    Paul BragielAber Whitcomb AshwinNavin Jim Young
    “Backed by I/O Ventures, the San Francisco café houses startups that get seed money, mentoring, four months of office space—and discounts on all the goodies”
  • 3. i/o ventures Accelerator (2010)
    $25,000 for 8%, 4-6 month program
    All secured follow on financing, 2 acquired.
  • 4. What does this have to do with Africa?
    Talent exists everywhere: The Silicon Valley Link
    International scope
    Singapore (Oct 2010)
    Brazil Trip (Nov 2010)
    Tanzania, Kenya (Aug & Dec 2010)
    Source: WSJ interactive series Jan 2011
  • 5. Africa Economic Picture (2008)
  • 6. East Africa Tech Overview
    Market: 150M, Over 60M mobile users in the regions with about 5M+ internet users. (EAC union)
    Talent: Raw engineers and students
    Lack of Expertise: Inexperienced entrepreneurs, A serious lack of Angel investing despite VC/PE presence
  • 7. Mobile Financial Services as a foundation for formalizing the economy
  • 8. Mobile Money
    Over 15M mobile banking users in Kenya alone and spreading across Tanzania, Uganda, Rwanda
  • 9. Kenya as the regional innovator
    Significant pool of engineering talent and the region’s first open incubator workspace
    Leader in Mobile banking  transformative and force in sectors not limited to Financial Services
  • 10. Tanzania: Meet& Mentor
    Meet Govt officials at the highest levels
    Successful Businesses
    Mentoring students & entrepreneurs
    Local press generates awareness & excitement for tech
  • 11. Tanzania Plans & i/o ventures
    Dar Teknohama Incubator (May 2011)- Govt subsidized/PPP.
    Incubator support
    Mentoring & “Capacity Building”
    Accelerator program & Seed Fund
    Tech Park + Outsourcing (2012+)
    Data Center (2012+)
  • 12. Tanzania: local partners
    Commission for Tech & Economic Advisor to the president
    InfoDev /World bank: Funded over 80 incubators worldwide
    Finland is a major Donor
    €3M/year in technology
    Nokia innovation lab
  • 13. Key Opportunities
    Mobile Applications on emerging platforms
    Emerging web services in key verticals and proven business models to scale across emerging middle class across East Africa
    Emerging Ecommerce (marketplaces, key services)
    Social Media, Content Inc. advertising (Mobile Web & SMS)
    Entertainment (local)
    Small business SaaS
    Bottom of the Pyramid (BOP) + Leapfrog
    Payments and remittance services
    eLearning and Education
    Energy & Cleantech
  • 14.
  • 15. Energy & Cleantech
    10-15% of the population in East Africa does have access to electricity… but it will grow
    Billions needed to fix legacy infrastructure and benefits won’t flow to emerging lower/middle class
    Leapfrog opportunities & new consumption models