Questions & Answers

How has VC4Africa created value for you?

1
Avatar of Ben
Ben
Reputation: 340
asked October 25, 2011

VC4Africa is a free, open and accessible peer-to-peer network. We believe the strength of VC4Africa stems from this idea that anyone, anywhere in the world, can find some meaningful way to contribute to entrepreneurship development on the continent. 

Now with 170 ventures published online, and connecting these entrepreneurs with members in 159 countries, we increasingly see good things starting to happen.
- We had Swiss investors support a startup in Cameroon
- We had Dutch investors help launch a new business in South Africa
- We had an American company establish a joint venture and launch their SMS service in Kenya
- We saw a joint venture being signed by companies in South Africa and SomaliLand
- Featured entrepreneurs have been picked up by media channels like BBC World and Forbes
And these are only the stories we know about because members have stepped forward to share them with the team at VC4Africa. Knowing that VC4Africa has a positive impact is important for us and our partners. Many great connections are being made every day. They can be small, like getting some feedback on a business plan, to something that really takes your business to the next level i.e. getting an investor on board and a highly qualified person in the advisory board. 
If you have your own success story, please take a second to share it with us. 
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12 Answers

3
accepted
Avatar of Simeon Oriko
Simeon Oriko
Reputation: 60
answered October 25, 2011
I'm a big believer in the Internet's power not only to connect people, but also to build mindshare and share resources beyond physical borders.

I say this because StorySpaces, my startup, is purely run and organized virtually with teams spanning across 5 different time zones.

Our teams have learned to use various internet based tools and resources to achieve our objectives. VC4Africa is one of them and has created value for us in this way.

VC4Africa has also created value for us by amplifying our efforts to a targeted audience. This adds credibility to our initiative as well as of others in our space.

VC4Africa has also opened opportunities for entrepreneurs and investors alike by shedding light on Africa's true potential and providing a space to showcase it to the world. This strongly emphasizes the growth of African Innovation and a firm commitment to ensuring its growth and sustainability.
4
Avatar of Gossy Ukanwoke
Gossy Ukanwoke
Reputation: 40
answered October 25, 2011
wow..

Success Stories? I would say for Students Circle Network, it has been a chain of good events coming up since we got profiled by VC4Africa.

The profile on VC4Africa gave us our very first foray into media awareness and acceptance. It really did help our Social and Media acceptace considering that VC4Africa gave us that very point of reference that most media organizations seek when they want to interview you.

Immediately after the profiling, we got into Investment talks with a few investors, however those didnt work through. This however showed us the influence and acceptability of VC4Africa.

We have been featured on very interesting media ever since but on the web and on print.

We will continue to support the goals of VC4Africa with every opportunity that presents itself.

Gossy Ukanwoke
@gossyomega
Students Circle Network


3
Avatar of Natalie-Ann Powell
Natalie-Ann Powell
Reputation: 30
answered October 25, 2011
We are new to VC4Africa but in the last few months I have looked at a number of investment portals and business network sites and must say that I've been most impressed with VC4Africa. The people I've been in touch with have been helpful and most gracious.
I've often felt that there was a strong need for services like this one and am so pleased to see such active participation in here.
I feel confident that I will be a regular visitor to this site from here on and would like to thank the VC4Africa team for all their hard work. As a proud passionate African, I can only celebrate this initiative and hope that it grows from strength to strength.
2
Avatar of Guest
Guest
Reputation: none
answered October 25, 2011

Long live VC4Africa

I'm Hasan, co-founder of Extendedbits,an IT services company located in the Netherlands with a development and testing factory in Somaliland. I'm please to tell that VC4Africa is an organization contributing to the development of business sector in Africa.

Our company, Extendedbits came in to contact with VC4Africa via Saskia Reus of Reussir BV, she arranged an interview with our co-founder by VC4Africa and this interview created an enormous impact on the visibility of our company. One hour after the interview was published on the VC4Africa website, we were asked by BBC World Services for an interview, which you can find back on on our venture profile: http://vc4africa.biz/ventures/extendedbits/.

Besides being a platform to promote African business, we at Extendedbits got our first business assignment from VC4Africa. Extendedbits tested the venture 2.0 release of VC4Africa. We implemented the assignment to the satisfaction of VC4Africa. VC4Africa and Extendedbits together reviewed the assignment and came to the conclusion that Extendedbits fulfilled the assignment to the satisfaction of VC4Africa. VC4Africa decided to take Extendedbits as their primary party to provide test activities for VC4Africa. Extendedbits without VC4Africa, would have had to invest lot of money and effort to be where we are.

We are very pleased to tell to every other organization and individuals interested in building the African business sector to include VC4Africa as a prime partner. We can certify that Extendedbits owes a great deal to VC4Africa.

You are the champions!

Hasan Giire,

Co-Founder ExtendedBits

November 8th 2011

2
Avatar of Tiyab Konlambigue
Tiyab Konlambigue
Reputation: 40
answered October 25, 2011
VC4Africa is a key to the success for African startups. It gives us visibility and an exchange center ‘startup to startup’ and ‘startup to investors’. We are seeking investors, startups, companies or people we could share experiences and opinions with. We want to share our knowledge and work with other people on several development projects. K.Tiyab
2
Avatar of David Amakobe
David Amakobe
Reputation: 250
answered October 25, 2011
When you work for a large organisation, you take for granted the people around you. When you have a question, you sent an email, call or pop into your co-workers office. Its is not that simple when you are an entrepreneur in a start-up! Entrepreneurship is a lonely undertaking.
My  name is David and I work for African Wood Inc., which trades as Afrwood Wakulima Market®. Like any other venture, we have to sell the venture to our team, to customers and then to investors. Our current key challenge is to sell the venture to African Agricultural Produce Wholesale Market players. In the process of seeking out users, we came across a possible partner in distribution and were worried about how much information we could let them know. Our dilemma was that if we gave too little, they would not have sufficient information to make an informed decision which could adversely affect our plans but if we gave away too much information then they could walk away and implement it without any benefit accruing to us!
In a large company you would turn to your boss, co-worker or hire a consultant, we could not afford a consultant! We Shamelessly turned to VC4Africa, I wrote Ben a private note asking to ask a private question, pick his brain without paying! Ben not only agreed but he linked as to a Mentor in the VC4Africa Mentor Group - Mr Joel Patenaude, who  has been a big help. Joe walked us through by email, Skype and phone the thought process of when to use or not to use an NDA and what to include in an MOU. This deal is on going, so I will leave at that!
If you want something ask for it? So it was that as part of the development of Afrwood Wakulima Market® , we are developing a reverse auction platform to target the large buyers market and we need a pricing model - Joe came in handy. We are using Joe's Mentoring services from VC4Africa to negotiate with a very large buyer of African produce, we are satisfied that with this service we shall have sufficient internal generated income that we  may not need our initial level of funding but may delay and go for something larger.
We are very happy with the mentoring service provided by VC4Africa and do recommend that all the entrepreneurs listing their ventures should try it, you may discover that yo could generate the funding you need by yourselves!
The Best thing is Joe lives next State to us, with the same time zone, I see him on Skype and seek him out! Ben and the whole team at VC4Africa are doing a very good service, just ask!
David Amakobe
African Wood Inc., t/a

2
Avatar of Tiyab Konlambigue
Tiyab Konlambigue
Reputation: 40
answered October 25, 2011
Since my VC4Africa interview, my visibility is growing every day. This interview is the best thing that happened to me since I launched my startup.
I learn every day to manage this visibility, to maintain it and increase it. I do not get funding for the moment, but what I get through the VC4Africa interview, worth more than any funding: visibility and credibility.
Thank you for your initiative and for the great work done every days by  VC4Africa team.
1
Avatar of Guest
Guest
Reputation: none
answered October 25, 2011

Innovation “VC4Africa” Innovation

Drs. Samuel Guane Ackah as a treasury of ADFD and Head Risk, Control & Issues of Royal Bank of Scotland NL, I personally find VC4Africa as an innovative platform offering the space for global Investors and Entrepreneurs on Africa continent.

Africa Diaspora Fund for Development “ADFD” majority of the members were exposure to VC4 Africa during ADFD business and Investment workshop in Amsterdam June 2011. We received superb presentation from Ben White. ADFD finds VC4Africa platform and it operations for Africa as innovate and value added platform that directly contributes development of Africa and ADFD is ready to lunch its Private Investment Fund  (PIF) which due soon.

Believes VC4Africa platform do not only facilitates open space for Investors and Entrepreneurs but enhances cash flows – private capital for investment , management know- how, business setups, business networks including technology impacting growth of Africa’s Small and Medium Enterprise (SME) market which will stimulates job creation and development of the continent.

We recognised VC4Africa vision as the bench-mark of Investors and Entrepreneurs excellence in providing free core services that the Africa continent to stimulate its SME’s. ADFD looks forward to continue to work with VC4Africa as core partners and we urge all Africans in the Diaspora including friends from the west and East to use this platform to invest in Africa business since Africa presents various business opportunities and most of its markets are untapped.

1
Avatar of Konadu Agyeman Buahin
Konadu Agyeman Buahin
Reputation: 20
answered October 25, 2011
This great platform has finally created a place where we can showcase what our venture is and what we have to offer and potentially look for partners for growth.

It's also a place where we can contribute our expertise to the community and make ourselves available to help.

Webhostghana.com
1
Avatar of Shaun Lindbergh
Shaun Lindbergh
Reputation: 115
answered October 25, 2011
I wrote this to a connection on LinkedIn and then thought I should post it here. The VC4Africa team offer a great service.
I must say that the team at VC4Africa have been among the best community managers I have had the pleasure to deal with. They are engaged and committed. Saskia connected the dots and introduced me to another South African who I related to immediately; we are due to meet over the weekend. I have had tremendous advice from coaches and investors which has resulted in me lifting my game somewhat.
0
Avatar of Josh Cohn
Josh Cohn
Reputation: 11
answered October 25, 2011
I am with GreenWorld. We are a site that focuses on green investments andalternative investments. We have met many people on VC4Africa, and one of them has turned into what will be a long-term partner representing our investments in Asia, so that was just great. We are hoping that some of the other contacts turn into partners too. I also plan - when I can carve out the time - to list on the new platform the alternative investment options that GreenWorld offers. Plus, of course, from a pure SEO perspective, having links on a good PR level site is very nice for developing the business of ours over time. Great job by Ben and the team!

Josh
GreenWorld BVI
0
Avatar of Frank U. Nwobodo
Frank U. Nwobodo
Reputation: 55
answered October 25, 2011
Truly VC4A is a phenomenon and for we at Himetrix Technologies Limited, a dream come true and on time.

HT has actually invested over 10 years since 2000 and well over NGN10M on R&D in the now commercialized interactive software series. Our present commercialization phase, based on our marketing/distribution model, employs branding and networking amongst others to deploy our product to an initial sub-section of our market niche.

Branding is capital intensive and since we exhausted available fund at the previous very unpredictable R&D phase, will mean us seeking for financial injection. This wouldn’t have been possible to achieve while trying to execute the commercialization because of the size of our team.

It’s then based on this limitation on HR that VC4A renders its strength. We are really grateful and draw great strength from the value of VC4A’s availability at this critical time in our corporate life-cycle that we are fund-raising now while doing business normally.

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