Category Archives: Uncategorized

Innovation spreads like wildfire in Africa

Nairobi has really worked to claim its position as an innovation hotspot. See for example the plans for the $7b Konza Technology City. The activity there is remarkable and the progress is really a result of an active community and increasingly a combined effort. The platforms like the iHub, m:lab and Nailab help bring the local network together and make entrepreneurs and their projects visible for a wider audience. Nairobi is friendly for journalists, the labs have improved access to resources and increasingly stories of entrepreneurs reach the pages of newspapers and websites around the world. Government responds and acts to support the growing sector, telcos and other multinationals look to get involved and donors and non-profits seek to further propel these efforts. Investors keen to tap into the African opportunity buy plane tickets to see what all the noise is about and unknowingly pressure local investors to stay closer to home. To a great extent this growing momentum builds into a self fulfilling prophecy. Can similar gains be achieved elsewhere? Can similar clusters and communities mobilize and become accessible in Senegal, Ghana, Nigeria, Cameroon, Botswana, Tanzania, Uganda, Rwanda or Ethiopia?

PIVOT25: East Africa’s Biggest Mobile Tech Event from Pivot25 Conference on Vimeo.

The next big thing in African Tech has arrived. Pivot 25 is here! The region’s top 25 mobile tech startups pitch against each other June 14-15 in Nairobi, Kenya at the Ole Sereni Hotel.

From my recent trip to Cameroon I was blown away by the entrepreneurial activity. I spent my time in Buea, a young university town that lies at the foot of Mt. Cameroon (otherwise the highest peak in West Africa) and the HQ for ActivSpaces, a budding technology incubator. The mountainscape is lush and green. The backside of the volcano runs down into Limbe, a coastal town lined with black volcanic beaches. Seafood is plentiful and nothing tastes better than BBQ bone fish with pepe (local chiles). Avacados, fresh fruits, yams, the list goes on. The main highway runs into the commercial capital and port town of Douala. The traffic is busy, the streets are bustling and there is an undeniable magnetic energy. It’s hot and sweaty. People are moving fast and ready for business.

From my short trip I would say that Cameroon is a complex country you could spend a lifetime trying to understand. But a few things were clear for me. Being next to Nigeria is a major strategic advantage. Next door access to the continent’s most populous country is an incredible opportunity. Many entrepreneurs cut their teeth in Cameroon but keep Nigeria on their radar. Many have already travelled to set up shop and they only lower the barriers for others to soon follow. The French and English combination is another key asset as Cameroon bridges cultures. I think there is even a saying that Cameroon combines all aspects of Africa into one country. Buea specifically has a wonderful university and a well educated and youthful population. People are glued to their radios and information seemed to travel faster than a mosquito on a six pack of red bull.

ActivSpaces is a buzzing hub with about 10 entrepreneurs currently hammering through projects. Its a great team of people located in the Fakoship Plaza, which is likely to be the premier commercial complex in Buea. Its a really nice location and the facilities are perfect. The day I arrived I witnessed the launch of KmerBlagues, an innovative startup looking to connect brands with 365,000 Cameroonian users on Facebook. I also had the opportunity to facilitate a workshop on business models and filmed video pitches we look forward to integrating into the venture profiles on VC4Africa.biz and the ActivSpaces website. With Bill and the ActivSpaces crew we travelled to Douala to see about expanding to a second location. Bill, Valery and crew also have exciting news in the works that will see Cameroon quickly competing with her colleagues over there twiddling away in Nairobi :)

We also hosted two VC4Africa meetups. The first was in Buea and the second was in Douala. Both meetings brought together interesting networks and it was great to see so many entrepreneurs working on projects. Few people outside of Cameroon might know there is such an incredible amount of entrepreneurial activity. This is one area where a project like VC4Africa can really offer its support. Just making these individuals and projects visible is a big step. But wow, so many projects in the works and everything from mobile banking to 100% organic soap. French entrepreneurs using translators to explain their business plans into English and AirBnB demos for the African market just wowing the crowd. Being with all of these entrepreneurs just blows my mind and really drives home this idea that we aren’t just looking at Nairobi anymore. We are witnessing a tidal wave that spreads across the continent. Youthful entrepreneurs are working on their ideas in every internet cafe across Africa.

Morning chat with Cameroon’s serial entrepreneur Fritz Ekwoge Ekwoge

Fritz Ekwoge Ekwoge and his father Chief Ekwoge John Ekeme

This morning in Buea is cool after an early morning rain. Clouds still hang on Mount Cameroon as I sit down to talk to a local legend and one of the first entrepreneurs to graduate from ActivSpaces. They call him ‘Fee.’ He hails from the Southwest Province and ‘doesn’t shut up about his products or the potential for SMS.’ His favorite quote from the 2001 movie Antitrust, ‘this business is binary. You are a one or a zero. Alive or dead.’

When he was five years old his dad would send him to the store to buy groceries, but he had a hard time following orders and would often buy something like sweets instead. His dad told him he could never be a doctor because he would forget the scissors in his patient’s stomach and told him he should be a computer analyst instead. Fritz explains, ‘I had no idea what he meant, but I knew I wasn’t going to be doctor. When I grew up there was no computer around me. But later at boarding school one of my friends had a TI82 programming calculator.’ Fritz would borrow the manual and learned about concepts like loops, conditional statements and assignments. With those basic instructions he was able to clone games like snake, minesweeper and even built a mathematical equation solver. He continues, ‘One night I took a Son Goku image and pixel by pixel I replicated it on the calculator. I used to fool my friends that I had built a scanner that could lift images from a book. Most people in high school knew me for tricks like this.’ Needless to say in school Fritz became an invaluable resource for students struggling to pass their exams :)

The famous TI82 :)

Getting excited Fritz continues, ‘I realized I was spending more time with my calculator than my studies. I knew this was my future. After highschool I went to the Polytechnique and got great results. There I continued programming but still I had no idea about the web or the Internet. Everything was PC programming. One project we did was to build a 3D model of the school in C++. In 2005 I created my first Yahoo account in a local cyber cafe for 5000 CFA (about 10 USD).

Asked how he made the jump to becoming an entrepreneur he describes one of the defining moments of his life, ‘One day I was so broke I didn’t have any money for food and went home to chew on raw onions. I knew I wanted out of this situation and could see that the Internet was a better way for me to deploy my software. At the same time people were willing to pay me to develop websites. Becoming successful it wasn’t long before Price Waterhouse Coopers (PWC) came to the campus and offered me a job. It wasn’t 100% technology but I decided to enter the financial world and it was good to get some business background. I think its the combination of the technical, financial and corporate experience that makes for a good founder.’ With this experience and background Fritz didn’t wait long to start out on his own.

Kerawa, his first independent project, was started in 2007. When Fritz moved to Douala he had a really hard time finding a place to stay and he knew there had to be a better way. Kerawa is an online classifieds service similar to Craigslist and maintains 200.000 listings. By the third year they passed a 1.000.000 page views a month and Fritz is proud to confirm that the project makes a profit. Asked how, he explains that the most significant revenue source is from AdSense and now increasingly from the ‘VIP ads’ service.

Asked about his enthusiasm for SMS he says, ‘My passion for SMS started at school. We were supposed to come out with an Operating System project in 2006. I set up a team and I wanted to go beyond computers and leverage the mobile phone. There is so much power with SMS.’ He created a unique shell that allowed him to command his PC (and all the PCs in the school network) via SMS. He says, ‘Any command on my phone could be executed on the PC. If I wanted to shut it down I could type in ‘Shut Down’ and send it to the machine. The application was originally called VeSMS but is now known as COMPP.’ See one of his academic papers.

Realizing he had the skills to do something interesting Fritz explains, ‘I was telling myself I have to do something with SMS one of these days. I thought there should be a simple way to find contact details for people via their phone. In Africa we grew up with mobile phones but we don’t have a yellow pages or white pages. In Cameroon we have 100.000 fixed line users compared to 9 million mobile phone users. But where is the directory? How are we going to translate the idea of a directory for our needs here in Cameroon?’ On February 2009 he he launched the iYam.mobi beta.

He set up the company with one laptop (which acted like a server) and two phones that served as SMS gateways – one for MTN Cameroon and the other for Orange. He put up a 1 page website to explain how it worked and immediately he saw people testing it from the African countries and the US.

It was a matter of time before the project was discovered by people like Bill Zimmerman who could coach him and help promote him as an entrepreneur. Fritz says, ‘With help and mentorship I was able to secure the funding I needed to grow the iYam.mobi business.’ Now he processes 30.000 SMS a month and recently added an appstore and group SMS functionality.

Asked about the future Fritz pauses, ‘One of the biggest challenges for entrepreneurs here is getting paid for their services. Many people are not comfortable paying online and so we need to develop the sales force that can develop our offline channels. This offline approach is one of our key efforts moving forward.’ Indeed, taking concepts into the market is a real challenge. Not only for Fritz but for starting tech entrepreneurs in countries like Kenya, Uganda, Ghana, Nigeria, etc. His offline efforts are commendable and I think offer a needed focus.

Asked about ActivSpaces he responds, ‘Places like ActivSpaces are so important. I got to meet experienced people and received the support I needed to develop my ideas and build my business. It helped transform me from a local geek to a local star.’ It’s great to meet Fritz and to see first hand some of the progress he is making here in Cameroon. Even more exciting, I can see he is not alone and is surrounded by techies with great projects making similar strides.

And this is only the beginning Fritz explains, ‘We are still in a starting phase here in Cameroon but we are developing models now and I can see things changing. People are abandoning their jobs, not giving into the frustrations and are taking their destiny into their own hands.’ Being at the VC4Africa meetup last night with Buea techies @mambenanje @ekwogefee @nyvacol2005 @didiblaise @camvista & @mohamed_felata I couldn’t agree more.

A video pitch on Njorku.com, making job search in Africa possible

Today Churchill Nanje Mambe, the founder of Njorku.com, uploaded one of the first video pitches from Cameroon. Njorku is a job search engine for Africans world wide, otherwise a platform that aggregates and provides search and browse functionality for jobs from across the continent. In the short term there is a focus on Nigeria, Cameroon and South Africa.

Loy Okezie recently writes on TechLoy, ‘One of the key highlights of the 9ideas Conference held over the weekend in Douala, Cameroon was the demoing of the ‘Elephant project.’ He goes on to explain, ‘Njorku is a jobs search engine that crawls the web (especially job sites) to find jobs based on keyword searches in any African country and makes them available to users.’

This video pitch is great because it gives a personal introduction into Churchill as an entrepreneur and a nice background on his project. While we are in Cameroon we will be working to film more pitches like this and integrate them into the venture profiles on VC4Africa.biz. We hope that entrepreneurs in Buea and Douala will inspire entrepreneurs from across the VC4A network to do the same. When the distance between people is sometimes countries or even oceans video pitches like this can go a long way in breaking the ice.

AfroPioneer launches Kmerblagues, the Comedy Central of Cameroon

Cameroon's Comedy Central

Today Cameroon witnessed the launch of Kmerblagues (Cameroonian jokes in French). The founder, Mohamed Ahmed Felata, a Facebook developer from Garoua in Northern Cameroon, describes his efforts as the beginnings for the ‘comedy central for the country.’ A fun application that creates a place for sharing jokes on Facebook. Its a creative idea and he makes a strong case for connecting brands with a difficult to reach audience – University students and young male professionals between the age of 19 to 32 – on a difficult to leverage platform. He believes there is a need for local content if we are going to get more Cameroonian users online. He says, ‘It’s content about the region and the people. Just the name gives an idea of who our users are and the jokes we offer are really about Cameroonian humor.’

When asked about his interest in Facebook he explains, ‘according to Alexa.com Facebook is the second most visited website in Cameroon with about 361,220 users according to the site (May 2nd 2011).’ The first is Yahoo, although Mohamed is quick to explain that Google runs multiple properties and likely claims the top spot when combined. He goes on to explain, ‘But Facebook is unique. As a Facebook user I know the site and understand how me and my friends use it. At the same time its difficult for brands to get their exposure there. The adverts are limited so why can’t we do something more with integrated applications?’

Asked about his background Mohamed explains that he was living in Youande. He used to work at the airport but hated his job. He smiles when he explains, ‘the best thing that happened to me was a small laptop and access to the wireless network at the airport. I spent my extra time reading and imagining what I could do. I always liked advertising and was learning about all of these different mashups. I went to the BarCamp and heard Fritz, a fellow entrepreneur, present his ideas behind an SMS appstore. I also heard about Kerawa and the exciting projects he was working on. Here was a guy who was doing it and he quit his job to follow his vision so I decided to do the same.’ Mohamed started working on Facebook applications at home. A friend from Buea used to send him Cameroonian jokes by SMS and he thought it would be interesting to integrate these jokes as a service on Facebook.

Curious to know how he ended up at ActivSpaces in Buea he explains, ‘I came to Buea three months ago when he heard about ActivSpaces from a friend. I was looking for a collaborative place to work and connections for help and maybe financing. In Youande I was paying 25.000 a month for a Ringo Internet connection. I was looking for some kind of solution and I wasn’t really making progress working alone.’ This seeded his interest in finding likeminded developers when in his words everyone in Yaounde focuses on doing management software.

He closes, ‘When I came to ActivSpaces I didn’t want to stay too long. I thought someone would steal my idea but when I got to know the team I could see everyone was doing great work. I realized this was the place I could grow. When I get stuck I have guys who can help me. Fua, Fritz, all of these guys can give me some advice. Ideas are shared and thats the best thing.’

My first day at ActivSpaces here in Buea couldn’t be better :)

Africa produces the next Facebook, Groupon, Zynga or Google

What will this list look like 5 years from now?


This info-graphic was produced by Ivan Colic. Located in South Africa, he started a great series devoted to the visualization of African data called Afrographique.

On April 7th Mfonobong Nsehe published ‘Why Africa May Never Produce a Facebook, Groupon, Zynga or Google’ in Forbes. Rightly, he calls for a need for investors to step forward and support promising African startups. I share this call to action, but also recognize the progress that is already being made. We have plenty of African startup success stories and there are more on the rise every day. Investors need to get involved now or we will simply pass them up.

Just last week TxtEagle raised $8.5 million from a consortium of investors including Spark Capital and RBC Venture Partners. This is big news when you consider most of the ground work and prototyping was done in Kenya. TxtEagle leverages USSD protocol that averts many of the costs that restrain SMS use in emerging markets. Their innovative approach has the potential to engage billions of people who till now have been hard for many organizations to reach. They already build on partnerships with 220 mobile operators in almost 100 countries who between them cover 2.1 billion subscribers. That’s 28.5% of the global population and is clearly another African designed platform with global potential. Is this not an example of a global product like Facebook, Groupon, Zynga or Google?

And there is no shortage of capacity and I agree with Mfonobong that Africa has some extremely intelligent techpreneurs. I think its a remarkable accomplishment when someone like John Waibochi, the founder of VirtualCity, walks away with USD 1 million from Nokia and beats out software developers from the U.S, Canada and India! And great African techpreneurs don’t just come from Nairobi :) NandiMobile, a start-up from the MEST Incubator won “Best Business” award at the LAUNCH conference in San Francisco. They were in competition with almost 100 Silicon Valley start-ups!

And let’s remember that Nigeria is about to get seriously connected. We are talking about 5.12 Tbit/s in capacity that will come to shore with the West Africa Cable System. This is four times the celebrated SEACOM cable behind a lot of the tech startup energy and buzz we share in Nairobi. The speed of the WACS cable is such that one could theoretically download about eight million MP3 files or over eight thousand DVDs per minute! And investors aren’t waiting around to see what happens. Already Pagatech announced that they have received investment from Tim Draper, a renowned Venture Capitalist based in the United States from Draper Fisher Jurvetson.

Speaking about his investment in Paga, Draper said “My decision to make this personal investment is premised on the simple fact that I believe in the bold vision of the Paga team and I trust in their ability to execute. Paga is a great innovation which will simplify life for millions of people in Nigeria and beyond. I look forward to the company being a major African success story that serves as an example for many more to come.”

There are exits too. South African Mark Shuttleworth, the founder of Thawte, a web security and certificate authority company, sold his business for nearly a half billion USD. So let’s be clear. Investors need to get involved today or they risk missing out on a unique opportunity at a unique point in time.

A profile on ActivSpaces, the leading technology incubator in Cameroon

In April I am travelling to Cameroon to visit the African Center for Technology, Innovations and Ventures (ActivSpaces), otherwise the leading technology incubator in the country. ActivSpaces is actually a project that has been in development since January 2009. The founders Valery Colong, Bill Zimmerman and Fua Tse unknowingly built what is likely the first technology incubator in Sub-Sahara Africa. Appfrica Labs based in Kampala Uganda, founded by Jon Gosier in March of the same year, being the other.

Like Appfrica Labs, ActivSpaces is building a model organization that serves to facilitate socially-responsible investment and the incubation of African small and medium sized enterprises (SMEs). This is a response to the generally accepted idea that SMEs in African countries have greater difficulty in obtaining the necessary financial support and mentorship services they need to effectively scale up and grow their businesses. Access to traditional growth capital, including debt and equity, is not only limited in developing countries but often prohibitively costly due to various factors such as insufficient legal and regulatory policies, and inadequate financial markets. Labs like this serve as a platform for the local tech community, helping to pool resources and generally serve as a launchpad.

Recently business incubation in Africa has emerged as a means of accelerating the growth of technologies, industries and business skills in otherwise challenging conditions. Combined with an incubator, ActivSpaces is also a coworking space with professional office services and income generating opportunities. The running costs are covered with a 10% on the invoiced commercial projects, giving members a chance to upgrade their skills and generate an income they can use to further develop their own concepts. All activities serve to foster collaboration between members. By using a flexible model, a qualitative approach and on-the- ground experience, ActivSpaces seeks to fulfill a broad spectrum of financing, business development and socio-economic needs.

The ActivSpaces vision builds upon the following core objectives:

- Support for SMEs with high growth potential
- Assessing a company’s risk profile
- Promoting innovation
- Developing products & services for the local market
- Employment & wealth creation
- Technology & skills transfer
- Enhancing links between universities, research institutions & the business community
- Adherence to and advocacy of the highest standards of business ethics
- Reputation as a socially-responsible and innovative firm

I asked Bill (my business partner in Sanaga Ventures – a combined effort that supports initiatives such as ActivSpaces, Afrilabs and VC4Africa) why he believes so strongly in ActivSpaces and he responded, ‘Based on my current analysis, observations and personal relationships, I increasingly believe the preconditions exist for rapid growth in the Sub-Saharan African technology sector. ICTs have many of the same features (i.e., they may be produced, bought and exchanged) as traditional commodity-based industries, but have a far lower barrier to entry and carry lesser capital requirements for young companies.’

Asked how some of the challenges in Cameroon could be translated into strengths he says, ‘Africa is a continent renowned for technical innovations conceived and built from limited resources. Countless examples exist of indigenous technologies borne from constraints (lack of infrastructure, poor governance, poverty, etc.) that have created sustainable SMEs. Among them, mobile money (M-PESA, Safaricom) is a profitable service created in Kenya whose model has only recently been prototyped in the West. Likewise, research and development in fields such as physics, chemistry, GIS & mapping, electronics, security, embedded systems, alternative energy and so on have good potential to be productized and spawn sustainable SMEs.’

He goes on to say, ‘for these reasons, ActivSpaces seeks to foster the growth of physical spaces for innovation, creation, research, development and collaboration. Popularly known as ‘Hacker Spaces’ there are 96 known active hacker spaces worldwide, with 29 in the United States, according to Hackerspaces.org, with another 27 U.S. spaces in the planning or building stage. Local demand exists for a Cameroon- based hacker space. This is integral with our vision and will be financed with a combination of member dues and profits spun off from ActivSpaces.’

As in many African countries, the population in Cameroon is young: an estimated 40.9% are under 15, and 96.7% are under 65. Outlets such as ActivSpaces are critical in leveraging the emergence of technology and the opportunities it presents local entrepreneurs. I am excited to see the space, to take part in celebrating their 2 year milestone, host two VC4Africa meetups, and to spend time interviewing and getting to know the team. It’s exciting times when you see projects emerging from ActivSpaces that carry the mission to ‘disrupt the SMS industry’ as Fritz plans to do with iYam.mobi. I look forward to working with ActivSpaces and the entrepreneurs part of its network.

Sanaga Ventures opens Amsterdam office @NDSM Wharf

Photographer Michiel van Raaij

Bill Zimmerman and myself have co-founded Sanaga Ventures. This is a company that seeks to build on our mutual interests and combined strengths. Particularly we seek to support the rise of the African technology sector and work on a number of projects including ActivSpaces, AfriLabs and VC4Africa among others. We are pleased to join the Butterfly Works maker’s space. Butterfly Works is a do-tank that combines design with finding sustainable answers to international social issues. It’s a great team and we look forward to collaborating and sharing together.

The space is located in a former shipyard on the northern banks of the IJ – just a 5 minute ferry ride from Amsterdam Central Station. A creative industrial area larger than 10 football fields, the NDSM wharf is now a center for underground culture in Amsterdam. This huge area contains the NDSM hall, a hangar-like structure 20,000 sq. meters in area and 20 meters in height, and two historic ship slipways (Hellingen) housing workshops and artists’ studios. From the sixteen cranes that once stood here, only one remains. Otherwise a landmark for the area and a perfect beacon for our new endeavors.


View Larger Map

The surrounding area is packed with a diverse network of organizations and the NDSM wharf offers facilities for a number of artistic disciplines and small crafts industries. The wharf has also become a sanctuary for individual artists and craftspeople as well as for independent organizations, both established and less known, to cooperate, inspire and create. Sanaga, in its mission to invest in industries, people and ideas, is excited to be part of this culture.

African ventures to watch in 2011

VC4Africa.biz now has 91 ventures registered from more than 20 African countries and a surprising number of sectors. It is a nice representation of the sheer diversity in opportunities currently found across the continent.

Many of these projects are positioned for serious progress this coming year. For example I am interested to see what happens next with Uganda Medicinal Plants Growers, a venture posted by Teddy Ruge. UMPG is a commercial farming initiative based in Masindi and is designed to assist farmers commercialize their medicinal crops internationally. This is important work considering Uganda’s economy is agriculture based, with agriculture employing over 80% of the population and generating 90% of its export earnings. In Kenya its nice to see social ventures like the Recycling plastics and Empowering Youth. Kenya has a great need for low-cost housing and productive waste management. This recycling company will operate in the interest of the local community employing collectors using bicycle with trailers to bring various grades of plastics to processing units for ecologically-sensitive, efficient sorting, granulating and moulding (under low heat) into panels to be used for cheap housing. Not only is this an innovative approach that addresses a growing need, they are clearly taking the steps to embed the program and design it in a way that makes it socially sustainable and thereby economically viable.

A Nigerian based venture to watch is eHealth. This project supports the management of health facilities in Nigeria to influence health-related funding and policy decisions, and provides doctors with the patient information needed to improve decision-making before, during, and after care. This is not only a support service needed in Nigeria but I can imagine there are needs for their products in other African countries too. But given there are at least 85 listed hospitals in Nigeria there is plenty of work needed to get the company up and running. A venture that caught my attention in Cameroon is Hot Ice. Hot Ice is a fashion company that specializes in supplying affordable African-styled fashion accessories for trendy suburban women. Hot Ice really looks to differentiate its brand and seeks to build a fashion culture that local consumers can identify with.

Finally Agro-Hub, Geofeed, Naijaborn and Hizonotes offer a nice sample of the web and mobile related projects we have in our network. More projects are signing up by the day and clearly 2011 is set to be the year of Entrepreneurship in Africa!

What do Tech Startups in Africa need to do to attract VC’s and Angel investors?

Cover from the book Futures of Technology in Africa

Its a challenge for any emerging market or sector. Reality is people are always interested in investing in something that already works and has a ‘proven’ chance of generating a healthy return —> but this is regretful hindsight. The point at which investors engage varies and we need to focus on the ‘early adopters’ i.e. the investors with the foresight to see what is already possible in the African space. These early movers are the ones who pick up the best deals and have access to the best networks. And I strongly believe that as we generate success stories more mainstream investors will notice and want to get involved.

It is also short sighted to think investors are not already interested and that conversations aren’t taking place on a daily basis. Just look at the member base behind the African Venture Capital Association (AVCA) to see what has already been realized. And for the Kenyan tech sector, currently the hotbed of activity, we have witnessed a rapid rise of players who see the potential and are taking the steps needed to get involved – Africa Media Ventures Fund, InReturn Capital, Business Partners Kenya, Aureos Capital, FirstLight Ventures, Humanity Fund, Fanisi Venture Capital Fund, Jacana Venture Partnership, Open Capital Fund, TBL Mirror Fund, eVA Fund, Flow Equity, Grassroots Business Fund, Acumen and Root Capital to name but a few. Also notice that an increasing number of investors are mobilizing locally or via diasporan communities living abroad. Entrepreneurs don’t have to necessarily camp out at the airport anymore.

And these investors are seriously willing to take on the risk. Most offer not only capital but also the mentorship, network and support services needed to realize the entrepreneur’s potential. They are eager to find the right people with great ideas, the courage, creativity and reasonableness needless to execute them. The capital is increasingly available and now its up to the entrepreneurs to step forward with the ideas, teams and plans needed to put it to good use.

I think part of the process moving forward is also to mobilize ourselves as a network and to see how we can help each other through this process (hence why I spend so much time working to support the VC4Africa community, promoting ventures. As we come together we can learn from each others experience and improve our chances of success. We need to make our opportunities and needs visible to the investment community. At the same time we are better positioned to identify gaps and mobilize ourselves around solutions. If anything, its learning from each other, documenting these lessons and making this knowledge available in ways that we help others get involved.

This post was taken from a discussion started by Sam Gichuru on Quora, ‘What do Tech Startups in Africa need to do to attract VC’s and Angel investors?’ If you have a moment, please join the conversation!

VC4Africa welcomes Helen Ngoh as community manager

This interview was conducted by Bertil van Vugt

Recently the VC4Africa team has welcomed a new member. As community manager Helen Ngoh from Cameroon will be the one to contact when you have any questions or remarks. Let’s meet Helen!

Please introduce yourself?

“I’m Helen Ngoh, I’m 24 years old and I live in Buea, Cameroon. I am a trained and practicing journalist with state media in Cameroon. I also write for a local newspaper and I believe very strongly in Africa’s potential to excel in every field out there. I have a passion for social media. For leisure, I love to watch movies and read novels.”

How did you find out about the VC4Africa community?

“A friend, Bill Zimmerman, told me about it. Bill is already involved in the VC4Africa community and he seemed to think that I would find the concept interesting. He was right. He sent me the link by email, I clicked on it, began reading and I was so impressed. I think this is an ingenious, resourceful and original idea.”

Why do you believe in the VC4Africa concept?

“There are a lot of people in Africa, mostly young people with smart ideas but no one to finance their projects for them. I think sometimes it is because the older generation and the controllers of finance have an unjustified lack of faith in these new ventures, but also it is also because the creators do not have enough avenues to present their projects and ventures.

A platform that allows entrepreneurs and investors from all over the world to connect solves that problem immediately. Entrepreneurs who had previously exhausted all possible investors suddenly find themselves in this large space where a financier anywhere in the world can have access to their ventures with just one click, literally. How could I not believe in something like this?”

What is the best idea you have seen on the VC4Africa website and why?

“This is a hard one to answer. I have been going through the around 75 ventures on the VC4Africa website and I think all of them have very interesting ideas at the centre. That said, I find the Renewable Waste, AGRO-HUB and Frozen Ethnic Ready Made Meals ideas very attractive.

The Renewable Waste because recycling waste in some parts of Africa is a difficult thing to do and not so many people are doing yet even though it proven concept so I think it has a lot of potential. I find AGRO-HUB particularly interesting because it touches on agriculture that is something a great majority of Africans can relate to. It also provides a solution using mobile phones, which have a wide reach and a growing market in Africa these days. The Frozen Ethnic Ready Made Meals may be my favourite because I think I am ready to buy one frozen ethnic readymade meal. I work a lot, I’m not particularly in love with cooking and I don’t really like eating out. I’d buy a frozen ethnic meal in a beat, so will thousands of bachelors who work and live alone.”

What would you recommend to entrepreneurs who are putting their business idea online on the VC4Africa website?

“I’ll recommend that they put ideas that have been tested or at least taken off – ideas with a demo or prototype. In my opinion backers are more likely to invest in a project that is already underway rather than start from scratch with just an idea. Financiers will often look at the amount of risk involved before injecting money, and in my opinion, a business, which is already operational, reduces a certain amount of risk.

It is also quite important that entrepreneurs visit the community often to check on what’s happening with their ventures, read comments left for them and try to prod reactions from the community on their projects. A venture with traffic will always look very attractive because a lot of people will be asking, “what’s going on over there?” Who knows, maybe one of those coming to check will be a guy with big bucks.”

What are your plans as community manager for the near future?

“I plan to encourage, facilitate and develop relationships in the community. I’ll be going through ventures to try and connect people who may share similar interests so they can find themselves, help them start a conversation and move on from there. I guess I’ll be some kind of matchmaker.

The success of this community depends largely on entrepreneurs meeting and convincing possible financiers. For this to happen I need to push entrepreneurs to complete their ventures and then try to make them visible to rest of the community.

I hope my fingers will flip the switch that lights up the way for these two groups of people to connect and develop strong relationships.”

How can members contact you?

“Members can always send me a private message on VC4Africa. They can also email through ngoh.ada [at] gmail.com, or tweet me @Nellybone. Please, no hesitations!”