Acumen Fund and similar VC Funds are doing a great job here in Africa, but what I could wish for is even more seed capital. A recent survey showed that the access to seed capital is essential, and ranked as the number one factor hindering entrepreneurs today. Hope we in the future can see even more seed funds and VC funds operating in Africa.
What I want is more startup and business accelerator programmes, and more knowledge sharing between entrepreneurs in Africa and the developed world. We've been working on an idea of an online "virtual" startup programme connecting local entrepreneurs here in Kenya with mentors in Norway using videoconferencing and social media. If we succeed I think both parties can benefit from it. Our local entrepreneurs can get knowledge and hopefully access to seed funding, and our mentors will get access to investment opportunities and knowledge about an up and coming emerging market.
Acumen fund opened the eyes of many for a new kind of philantrophy, but at least many European donors are still old school, and wants to build health clinics and childrens homes. Something tangible to take pictures of and show off at home.
Can Venture Capital Save The World? - Forbes:
'via Blog this'
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