After attending the first of two sessions of Bar Camp Zimbabwe, I can’t wait for tomorrow. The first session what held at Keg & Maiden. It was a colourful event with participant drawn from the ICT sector mostly. Tomorrow we will be at Harare Club where the final winners will be chosen and graced with the goodies to grow their start-up. Clinton from Techzim has a great article on his thoughts on round one of #BarCampZim.
IPO48 has just closed in Nairobi. I caught on through my twitter what went down from links posted by Eric on his blog White African and Mark from Afrinnovator have come up with great summations of what took place. Kenya is certainly taken the lead in ICT start ups, early stage investments and incubation outside of South Africa. I would even argue that it could soon overtake South Africa if they can maintain the moment. Anyways, back home I hope there is going to be more realisation from those pitching at events like Bar Camp Zimbabwe that investors have one thing in mind. How are we are going to make money? And how do we exit the investment. I noticed a few guys who had ideas that seemed to cater only for their intellectual curiosity. I also suspect that a number of our presenter’s would be more than happy to take their ideas to the grave than offer shares to an external investor! Those are obviously attitudes that need to change. Make yourself aware of how early stage investments are structured! Find out what a business model is, and how it will affect you when it time to raise capital. I’m still excited about the local ICT space and I’m hoping to put my money where my mouth is soon. So let’s stop complaining about access to finance and prepare ourselves to raise venture capital with out the Illusion of Entrepreneurs’ Success.
Lastly it would be handy of we could attract a number on crowdfunding platforms to invest in Zimbabwean companies. No doubt the negative publicity is damning those chances but within our circles’ of influence the word is certainly out that there is good money to be made in Africa. If MYC4, GrowVC and the very active in Zimbabwe, Schmooze Frontier Markets have taken notice, you probably should too! I was reading a MYC4 blog entry on the green revolution by Tim Vang and it led me to another post on the same topic on Emeka Okafor’s Timbuktu Chronicles. Can you believe “Urban farming is more profitable than white-collar jobs for many Congolese”.