Very often when we discuss startup-investor relations, we don’t consider what the startups are looking for in investors. We instead focus on what the investors look for in startups. Which is expected.
But it is important for startups and investors to perfectly align and it is also important to consider what the startups look for in investors because this improves synergy and set proper expectations, paving the way for healthy growth.
ALSO READ: What the African tech startup space will look like in 10 years
Business Insider SSA talked to some of the startups that graduated from the Class 2 of the Google Launchpad Accelerator programme about what they expect from investors.
Here are some of their thoughts:Uganda’s EzyAgric
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EzyAgric team at the Google launchpad accelerator graduating class
(Business Insider SSA by Pulse)
For Esther Karwera and her team at EzyAgric, an agtech company digitising agricultural value chains in Uganda, an investor should motivate, help build capacity as well as the monetary value.
“The investor we want is not for an investment of cash, but an investor who has access to the network of people, someone we can hold hands with, go on the journey together.”
Karwera said the idea of investment is to cover three aspect of the business – money for the operations, resources to drive the products and capacity building, and motivation for the people.
ALSO READ: Kenya, Nigeria and Ghana account for over 60 per cent of Africa’s agri-tech market
EzyAgric team at the Google launchpad accelerator graduating class
(Business Insider SSA by Pulse)
“We do not want an investor that will just drop money, go to sleep and expect a return at the end of the year. Of course, it would not work just that way,” she adds.
Ghana’s Chalkboard Education
Genevieve Simiyu, Country Manager (Ghana) at Chalkboard Education sees access to a network, alignment with values and partnership as key ingredient startups look for in investors.
“We make sure our values and their values align alright. Not just the money. No one will pick money ahead of access to a pool of networks and deals,” Simiyu explains.
Kenya’s PayGo Energy
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PayGo Energy team at Google launchpad accelerator graduating class
(Business Insider by Pulse)
The team at PayGo say they look at the combination of money and technical expertise.
“It is going to be more like a partnership and not just about the money. We want an investor with expertise on our products and activities and there is need for an alignment in vision and what we are doing.”
Nigeria’s Medsaf
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Nigeria’s Medsaf team at Google launchpad accelerator graduating class
(Business Insider by Pulse)
Vivian Nwakah, the founder of Medsaf (a technology-enabled pharmaceutical platform connecting high quality, trusted manufacturers to the African medical industry), tells Business Insider Sub-Saharan Africa that getting the right kind of people is key in startups-investors’ relations and not necessary seed funding.
“I honestly believe the right people will drive the cash to move in freely at the appropriate time.”
Fola Olatunji-David – Head of Startup Success and Services at Google
(Business Insider )
11 startups graduate from Class 2 of Google Launchpad Accelerator Africa programme
On Friday, Tech giant, Google graduated the Class 2 of its Launchpad Accelerator Africa programme in Lagos, Nigeria.
The Class 2 graduands comprise 11 startups from six countries: AppZone (Nigeria), Chalkboard Education (Ghana), Cloud9xp (Kenya), EzyAgric (Uganda), Formplus (Nigeria), Medsaf (Nigeria), Mintrics (Egypt), PayGo Energy (Kenya), Pineapple (South Africa), Preeva (South Africa) and Thank U Cash (Nigeria).
