I am so delighted for the future of Africa, seeing how innovators and Entrepreneurs are being supported and how the Ecosystem is growing rapdly. This report gives great insight into the great impact Ventures Platform Fund has had in building Africa. Congratulations to the Founding partners Kola A. Dr. Dotun Olowoporoku and the entire team Damilola Teidi Akano Adebayo Matthew. If there was balloon d' or for VCs you all would have your shelves full by now.
As a founder, building one of the most innovative Edtech startup in Africa I noticed Education and clean tech received the lowest funding. Considering that education in Africa is not well funded, I will have hoped investors can come in to bridge this gap. Presently statistics show that 80% of businesses fail in their first 5 years, in fact this also affect VCs because about 60% of the startups invested in fail. The big question I would ask is- why this high rate of Failure? The answer is simple "MY PEOPLE PERISH FOR LACK OF KNOWLEDGE".
For example many startups are founded by youths in their 20s mostly. one common feature about this population particularly for the Nigerian landscape, is that the youths are more driven by survival than transformation. So, Innovations are not well nurtured to thrive, and to contribute to that the landscape does not have many support system. Many Founders have genuine passion but don't have the knowledge and experience of the complexities and uniqueness of the African landscape. This is why we are building Skolars, We are connecting with youths and teenagers while they are undergraduates, before they are swallowed up by the concerns of life and the weight of adulthood, then we nurture them, train them, give them a community and expose them to mentorship from Industry experts. We are super convinced Africa will record more successful businesses and startups with the introductionof our solution. I mean if Ventures platform invested in 90+ companies and 70 of them become portfolio companies that will be of greater impact to the entire African continent.
In all, I am super proud and I believe in your investment principles of Catalysing Market-Creating innovation; Fostering Economic Prosperity; and Driving Systemic Change. Let me also end by commending the super hero founders, and every outstanding investor contributing their quota to improve social and economic growth across Africa. Thank you for all that you do. GOD BLESS YOU.
Watch our Founding Partner, Kola A., and Managing Partner, Dr. Dotun Olowoporoku, explore how our investments have driven financial success and transformative impact across Africa.
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