Apply for the Westerwelle Young Founders Programme

Have you recently started your own company?

Then the Westerwelle Foundation might be looking for you!

Apply for the Westerwelle Young Founders Programme by 31 July 2019 and get six months of business mentoring and a scholarship to attend the Young Founders Conference in Berlin, Germany from 22nd to 26th of October 2019.

Apply from https://lnkd.in/dgev6zu

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Apply for Lagos Venture Day

Lagos Venture Day is a fantastic opportunity for African startups by IE Business School .

IE Business School (one of the top business schools in the world with a strong focus on entrepreneurship) is  organising a Venture Day in Lagos focused on start-ups offering Digital Solutions to business or social challenges.

The idea is to provide a competitive platform on which start-ups can promote their work and have the chance to win N5m in cash, €15k worth of Amazon web services and a chance to pitch at the South Summit in Spain, 2020. In addition to this, the finalists have opportunities to network with potential investors.

Apply here – https://www.f6s.com/lagosventureday/apply/

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Connecting innovation mechanism for entrepreneurial success

Innovation and entrepreneurship are essential ingredients in building a successful commercial venture. It’s clear that innovation and entrepreneurship are closely linked; sometimes the terms are even used interchangeably. But, as two distinct yet interrelated concepts, it can be tricky to pinpoint the exact relationship between them.

The process of translating an idea or invention into a good or service that creates value or for which customers will pay.

For businesses, this could mean implementing new ideas, creating dynamic products or improving your existing services. Innovation can be a catalyst for the growth and success of your business, and help you to adapt and grow in the marketplace.

Being innovative does not only mean inventing. Innovation can mean changing your business model and adapting to changes in your environment to deliver better products or services. Successful innovation should be an in-built part of your business strategy, where you create a culture of innovation and lead the way in innovative thinking and creative problem solving.

Innovation can increase the likelihood of your business succeeding. Businesses that innovate create more efficient work processes and have better productivity and performance.

To be called an innovation, an idea must be replicable at an economical cost and must satisfy a specific need. Innovation involves deliberate application of information, imagination and initiative in deriving greater or different values from resources, and includes all processes by which new ideas are generated and converted into useful products. In business, innovation often results when ideas are applied by the company in order to further satisfy the needs and expectations of the customers.

In a social context, innovation helps create new methods for alliance creation, joint venturing, flexible work hours, and creation of buyers’ purchasing power.

Being innovative means to be open to change and not just open to change but proactively seeking change so it is always asking the question of what is next, what can we do better, what can we do differently and not just for the sake of doing it differently but to create more value than it’s currently created.

Innovation is synonymous with risk-taking and organizations that create revolutionary products or technologies take on the greatest risk because they create new markets.

Imitators take less risk because they will start with an innovator’s product and take a more effective approach. Examples are IBM with its PC against AppleComputer, Compaq with its cheaper PC’s against IBM, and Dell with its still-cheaper clones against Compaq.

What motivates innovative entrepreneurs are materializing new ideas/developing new technologies, which satisfy needs in the market, and being financially independent but making more money than paid jobs.

As an entrepreneur, you are also an innovator. Why? Simply, because you must innovate if you want to succeed. You solve problems on a better or much more innovative way for your customers. You create a company that means something for you, your employees and your customers from nothing. Simply, you need to be an innovative entrepreneur.

Who are innovative persons? I think that every person has enough creativity, dreams, and desires that can lead him to become an innovative entrepreneur. An innovative person is a person who doesn’t only innovate but also builds systems to support the innovation in his company.

Walter adds – “Turning invention into innovation relies on how an entrepreneur positions themselves, gets funding and manages their venture to become successful. Innovation is about the process and organisation needed to generate ideas in any context.”

Entrepreneurship has more to do with attitude, perseverance and focus. An entrepreneur can be a good innovator but an innovation manager is not necessarily a good entrepreneur. The ability to innovate in this sense isn’t just a vital component of a thriving business, but can be seen as an essential aspect of entrepreneurship itself.

Walter observes that today’s advancing tech, such as big data, IoT and machine learning, is now empowering whole networks of entrepreneurs to develop interconnected idea.

The distinguishing feature of new technology is that it enables open innovation in innovation ecosystems. Philips IoT-enabled light bulbs are now part of a platform that, next to giving light, provides opportunities for others to create software that controls it.

And what about the influence of digital channels? It’s difficult to think of a business idea without any digital presence nowadays.

However, a digital strategy should always be based on solving a real job for the customer, not just used for its own sake. You can build a perfect entrepreneurial business without a clue about digital though. Then again, a lot of digital ideas come to market through strong entrepreneurs, and not because they’re digital.

Entrepreneurship is new entry which can be accomplished mostly through launching a new venture. But not every new small business is entrepreneurial or represents entrepreneur.

Firms are more likely to succeed within healthy innovation ecosystems. These ecosystems are made up of human capital, research and development institutions, financial capital, the industrial base, the legal and regulatory environment, business and innovation culture and the quality of networks. Comprehensive innovation policy considers all these different elements and the interaction among them.

 

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Edves to release AItend for Schools, an AI powered sofware

Dimeji Falana, the Edves CEO announced that AItend for Schools, an artificial Intelligence school sofware is set to be release. Falana made the statement on his social media account on behalf of Edves,

With Computer Vision (AI), we can all see some deep things.

At Edves, we are making quick, deep and sensible use of Artificial Intelligence, and we shall release AItend for Schools to use in the next Academic session.

Edves Logo.

Edves is an edtech company based in Lagos Nigeria, the venture focuses on automation of brick and mortal School operations from Student enrollment, Fee Collection, Lesson Note up to Transcript Generation.

 

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Publiseer founders speaks at International Publishers Association Seminar in Kenya [Photo News]

The Nwaogu’s flanked by Ngũgĩ wa Thiong’o, the award-winning Kenyan writer (middle).
Publiseer founders and IPA Vice president Bodour Al Qasimi (middle).
Publiseer founders and other participants in Nairobi, Kenya.
International Publishers Association Seminar panel session.
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Apply for Startup Nigeria 3-months incubation program and N2million Equity fund

Here’s an opportunity to apply for a 3-months incubation program & N2million in Equity funding from #StartupNigeria. Sign up @ https://startupnigeria.ng Closes June 17th.

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Aspiring Entrepreneurs should  finish  degree before starting up a venture -Isaac Sesi, Co-Founder and CEO at Sesi Technologies

Isaac Sesi is a Ghanian born entrepreneur, engineer and a software developer passionate about leveraging technology to solve some of Africa’s most pressing problems, especially in the field of agriculture while inspiring young Africans to be innovative and solve problems too.  Sesi holds a degree in electrical and electronic engineering from KNUST, a Tony Elumelu Fellow, Next Einstein Forum finalist and  World Summit Awards National Winner. He currently, lead a team of 11 at Sesi Technologies where they are developing affordable technologies to help farmers and agribusinesses along the Agric value chain to  increase productivity and reduce losses. For now, the startup is focusing on FarmSense and GrainMate and putting the relevant structures in place to help scale up production. In the past, he have co-founded two other startups namely; Invent Electronics and GravyCode.

Here, are his advice to African future entrepreneurs;

Upcoming entrepreneurs, should not fall for the college dropout misinterpretation. They should should not drop out of school yet.

The “You don’t need a degree to be successful because Bill Gates and Mark Zuckerberg dropped out of school and made it“ narrative is a common example of Survivorship Bias which is causing many young people to make unwise decisions.

Sesi embrazing nature

The people who push this narrative focus only on the achievement, leaving out the unique details surrounding those achievements.

The disproportionate focus on the stories of the Gates and Zuckerbergs who survived without considering the stories of those who didn’t paints an incomplete picture. For every Zuckerberg who drops out and makes it, there are probably 99 other dropouts who do not make it.

A university degree does not guarantee a successful life but, it does open up opportunities for you and give you a better shot at life.

If you live in Africa, where the systems are such that you need a degree to even get one foot at the door, then getting your degree is even more important.

So, if you do find yourself in the university and you have ambitions to start your own business, unless you have a very compelling reason to drop out, finish your degree and then you can go live out your startup dream.

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Eleva8or: The Virtual Accelerator Platform   for Emerging Markets

Eleva8or helps early stage startups prepare for the journey of investment. Offering a wide range of simplified, automated & easy-to-use tools such as:Pre-Revenue Valuation, Founders’ Equity Distribution,Term Sheet Wizard, Due-Diligence Checklists,Cap Table Builder, Pitchbook Samples and Auction Gateway.

According to the company’s website , the Basic Cap Table For First Time Founders is detailed below,

So your in an emerging market and have already struggled to launch your startup and now it’ time to think about your capitalization table.

In simple terms the “cap table” is a record of ownership. The cap table provides an analysis of the founders’ and investors’ percentage of ownership, equity dilution, and value of equity in each round of investment.

There are hundreds of examples on how to format a cap table.  In all cases excel is likely the best and easiest way to create and maintain a cap table:

  • Names (and sometimes contact details) of the shareholders are in the left most column
  • Capital contributions and units in the subsequent columns to the right
  • Co-founders and groups of investors, from earliest to most recent, are sequenced top to bottom separated by rows clarifying the class of stock and option holders.

Looks simple enough (we have  provided an example of a simple cap table below which can be viewed – it details 3 Co-Founders who contributed capital and are being transparent by sharing the liquid cash contributions, however often the co-founders do not need to share such details, the cap-table further shows an investment by 5 investors of varying amounts).

Keep in min the above is a first round cap table – managing the cap table can be chaotic, confusing and frustrating especially when bringing on more investors in future rounds. But if you’re a first time founder, all the more reason to get the structure right the first time from the get-go.  As your company continues to grow and evolve, the cap table will help you keep track of who owns what.

When first structuring your cap table, there are certain terms and formulas that are important to understand such as

  • Pre-Money Valuation: Value of your company determined prior to investment (in term sheet discussions)
  • Price-Per-Share: Pre-Money Valuation/Pre-Money Shares
  • Post-Money Valuation: Pre-Money Valuation + Total Investment Amount
  • Post-Money Shares: Post Money Valuation/ Price-Per-Share
  • Investor Percent Ownership:Investor Shares / Post-Money Shares

Always good to keep the cap table as simple and straightforward as possible to prevent any mishaps or confusion over stock ownership.

c-table

eleva8or’s online toolbox includes a fully-automated cab table builder (shown below), which you can easily use to gradually build yours as your startup grows.

Other benefits from the platform are support for startups and the support for investors;

  • Support for Startups:

Seeking investment for a new startup is no easy feat basically you would be asking people who don’t know you very well to entrust you with their hard-earned cash on a business that most likely doesn’t yet exist!

This is not impossible either, as you probably hear about people raising large amounts of funding all the time from the news and social media – so there must be an art to doing it. Eleva8or has recently published a complete, simplified guide to startup funding outlining all the main documents and activities required to get a startup ready for investment.

  • Support for Investors:

The company offer a steady deal flow of top-vetted startups from across all emerging markets who have been subject to out stringent screening and preparation process and deemed

“investment ready”.

I hope emerging and existing entrepreneurs in tech related businesses will benefit a lot from the Eleva8or platform.

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Facebook Start Accelerator 2019 registration now open

Facebook-powered FbStart Accelerator at NG_HUB is currently open for all startups and students to apply. The accelerator is a tech-focused programme for innovative startups and student teams making using of next generation technologies to solve challenges of business and build solutions for future use.

According to CCHUB website, the programme is a 6-month research and mentorship driven program for innovative and visionary teams daring to create solutions with advanced technologies. The accelerator provides these teams with the support they need to build and optimize value driven products and match them with resources from Facebook and CcHUB.

The program is designed to support teams in two categories namely:

1. Onsite Acceleration for Startup Teams: Designed for startup teams with existing products who have customers or are market-ready.

2. Virtual Acceleration for Student Teams: Designed for Nigerian and Ghanaian students (BSc, MSc or PhD) with working prototypes or the technical expertise required to build intended solutions.

FbStart Accelerator is only for solutions that leverage the following technologies;

A. Artificial Intelligence (AI)

B. Data Science

C. Internet-of-Things (IoT)

D. Augmented Reality (AR) and

E. Virtual Reality (VR).

Applications to join the 2019 Cohort closes by June 30, 2019.

Visit for more information via https://cchubnigeria.com/fbstart

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Grab’s electric scooter is now available in Indonesia

 

 

On Thursday, a two-wheel vehicle service, in the modern residential areas of BSD City in South Tangerang, Banten, Indonesia. App users can rent the electric scooters by scanning the barcode on the vehicles’ parking spots with their smartphones and currently, there are five GrabWheels parking spots in the office park compound in the BSD City.

Even though GrabTaxi Holdings Pte. Ltd. is a Singapore-based technology company, Indonesia is Grab’s largest market and its target to double the number of micro-entrepreneurs in its system this year in Indonesia, in which Grab has secured US$1.46 billion from Japanese venture capital firm SoftBank in March even Anthony Tan (CEO Grab) has recently been spending more than 70% of his time in Indonesia. Indonesia accounts for 40% of Southeast Asia’s GDP; it’s a marketplace for investors, not for expats.

Grab aims to expand its Indonesian network of merchants, agents and drivers of at least 4.5 million individuals to 9 million by the end of the year and its contributed US$3.3 billion to Indonesia’s informal economy last year in the form of additional income for drivers and food merchants. The contribution comes from the company’s three business units: GrabBike, GrabCar, and GrabFood.

 

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