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The Case for Designing Inclusive Platforms in Emerging Markets
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JumiaPay Partners With The National Bank Of Egypt To Offer Business Payment Services • Techpoint Africa
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Qobuz opens UK office and appoints London-based MD for Northern Europe and Australasia
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Tech-Start-ups: Why new entrepreneurs fail to get early funding
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By Prince Osuagwu
In recent years, more investors and firms are harkening on to money as a major source of early funding for their budding enterprises. However, investment expert, Adedeji Olowe has a different thinking. For him most often, even with money, many budding businesses still don’t get to the finishing line because money is not the single most important thing companies need.
He challenges entrepreneurs to accept the reality they need other kinds of support to build high-growth ventures even at the early stages. They must be ready to roll up their sleeves and help portfolio companies execute, and create venture builders especially at the early stages.
Adedeji Olowe
How do you build successful businesses? The short answer is it’s hard. Yet from the outside, many assume investing and building successful startups is a pretty straightforward activity. Their thinking: money conquers all challenges, and nobody is more flushed with cash than VCs.
They assume that once VCs identify the companies building innovative products, they’ll simply throw money at them and let them work. In the future, if the company is a success, think IPO or Paystack-Stripe acquisition, the VC walks away with a decent return despite adding minimal value to the growth timeline.
But many times, this never happens. There’s a higher chance that a startup will fail than it getting any traction at all. And startups fail all the time; it’s just the nature of the business world. According to Fortune Magazine, nine out of 10 startups fail. That’s why some investors use the “spray-and-pray” model of investing to increase their chances of cashing out with t