Mentor. Accelerate. Invest
Developing tech entrepreneurs in subsaharan Africa
www.savannah.vc
7 Hard Truths on Africa Star...
Savannah Fund Today
• 15 startups. Accelerator to Series A stage
• $2M revenue run rate, raised $8M, 100 full time jobs
• ...
Waterhole
• Resource to help bridge knowledge and
experience gap in startups in Africa
• Fundraising in
Africa
• UX/Design...
Venture Capital Course in
Africa
• Reduce the VC process
knowledge gap.
• $1,000 for corporates
• $350 for "qualifying sta...
#1You are nothing special, but have potential
• Startups are increasingly getting caught in
the "Africa rising" hype
• Hig...
#2 talent development, mentor networks
• Not enough experienced coders for
growth. Especially on process.
• Investment in ...
#3 Safaricom dependence is not healthy
• Safaricom (and every other mobile operator)
wants to be the Alibaba of Kenya
• St...
#4 Need to Develop a Growth mindset
• Starts with deeply understanding
your customers
• Expand competence and learning
new...
#5 Hustle hard, otherwise it's 2 steps forward and 3 back
• Nothing gets done unless you do it
yourself
• Especially busin...
#6 Relentless focus. not working on the same thing everyday
• .... Nor doing a million things at
once
• Prioritization vs ...
#7 problem is often you problem definition
• Bounding the problem taking with cultural
contexts.
• You are often dealing w...
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7 hard truths

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7 hard truths

  1. 1. Mentor. Accelerate. Invest Developing tech entrepreneurs in subsaharan Africa www.savannah.vc 7 Hard Truths on Africa Startups @mbwana @savannahfund
  2. 2. Savannah Fund Today • 15 startups. Accelerator to Series A stage • $2M revenue run rate, raised $8M, 100 full time jobs • Connecting up the continent through Venture Capital. E- commerc e 39% Educatio n 11% Entertain ment 11% Financial Services 10% Logistics 9% Social/M obile 20% Rest of World 11% Ghana 19% Kenya 27% Nigeria 9% South Africa 24% Uganda 10%
  3. 3. Waterhole • Resource to help bridge knowledge and experience gap in startups in Africa • Fundraising in Africa • UX/Design • Product • Engineering & Scaling • Expats.... www.savannah.vc/waterhole
  4. 4. Venture Capital Course in Africa • Reduce the VC process knowledge gap. • $1,000 for corporates • $350 for "qualifying startups" • Savannah fund will sponsor 11 startups inc. Pivot East winners
  5. 5. #1You are nothing special, but have potential • Startups are increasingly getting caught in the "Africa rising" hype • High Valuations and availability of "soft money" lead to a distorted view • We are seeing the rise of Nigeria and Ghana
  6. 6. #2 talent development, mentor networks • Not enough experienced coders for growth. Especially on process. • Investment in emerging platforms Facebook, Android, Web stack/Cloud • Not enough awareness and utilization of product managers and UX
  7. 7. #3 Safaricom dependence is not healthy • Safaricom (and every other mobile operator) wants to be the Alibaba of Kenya • Startups want to reach Safaricom's mobile subscribers. Beware of Monopolistic behavior • There needs a clearer strategy and options between "revenue vs growth". + Differentiation
  8. 8. #4 Need to Develop a Growth mindset • Starts with deeply understanding your customers • Expand competence and learning new skills • Thinking multi country or multi product line expansion
  9. 9. #5 Hustle hard, otherwise it's 2 steps forward and 3 back • Nothing gets done unless you do it yourself • Especially business development. Knowing when to cut your losses. • Find workarounds... There is always a way
  10. 10. #6 Relentless focus. not working on the same thing everyday • .... Nor doing a million things at once • Prioritization vs Distractions • Clearly defined objectives and strategy to succeed. • Dealing with Uncertainty
  11. 11. #7 problem is often you problem definition • Bounding the problem taking with cultural contexts. • You are often dealing with multifactorial problems. • Unit economics and industry structure matter. Especially when you copy/clone from elsewhere to Africa http://savannah.vc/2014/04/16/problem-definition-problem-in-africa-solutions-for-a-diverse-continent

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