Founders@AfricanAngel
In Africa’s vibrant startup ecosystem, the role of the founder stands out as a symbol of creativity, endurance, and profound change. As an African angel investor, my innovation hub TVC Labs and I are dedicated to finding, getting funded, and then following innovative African founders to build Africa’s future together. I’ve been fortunate enough over the last decade to engage with numerous individuals, groups, companies and organisations through this process to find such pioneering individuals.
These founders are not merely crafting business success stories; their journeys represent a more profound entrepreneurial spirit that is deeply ingrained across the African landscape. Their unique experiences and visions are actively shaping industries and redefining what it means to be an entrepreneur in this dynamic continent of ours.
A crucial point that demands our attention in this context is the stark underrepresentation of female founders in the African startup ecosystem. This isn’t merely a diversity issue; it’s a vital concern that calls for immediate action. The unique insights and innovative approaches brought by female entrepreneurs are integral to the depth and efficacy of our entrepreneurial landscape. While there are a growing number of female angels and networks like Rising Tide Africa, their limited presence represents a significant void in the diversity of ideas and solutions within our ecosystem. So, cultivating an environment that robustly encourages and backs women-led ventures and investments is critical, not just for inclusivity, but for ensuring the holistic growth and development of our African startup ecosystem.
I personally look forward to adding more female founders to the increasing number of amazing founders we have found, helped get funded and are now following as we build the future together. Six of these founders that we’re following at TVC Labs today (circa 2023) whose photos you can see in the photo collage at the top of the article are:
Ashifi Gogo — The Enterprising Problem-Solver
Dr. Ashifi Gogo’s story with Sproxil encapsulates the essence of seizing opportunities and localising solutions for maximum impact. His ability to adapt his solution from familiar terrain in Ghana for Nigerians and then taking it worldwide especially India is noteworthy. Ashifi represents the rare blend of opportunity identification, simplicity in problem-solving, partnership building, and strategic growth planning, all while keeping significant skin in the game.
Deepankar Rustagi — The User-Centric Innovator
The tale of Deepankar Rustagi, the mind behind Omnibiz Africa, is a masterclass in resilience and adaptability. Post the closure of VConnect, Deepankar’s venture into software consulting laid the groundwork for Omnibiz Africa. His approach highlights the significance of a deep understanding of user needs, a lightweight business model pivoted on technology, and the strategic art of collaboration within the African ecosystem. His narrative teaches us the power of customer obsession over competitor focus and the art of storytelling in business.
Tomiwa Aladekomo — The Visionary Trailblazer
Tomiwa Aladekomo of Big Cabal Media is a striking example of visionary leadership. His journey, reminiscent of a rollercoaster ride, showcases his deep-seated desire to create impact. Tomiwa’s path underscores the value of envisioning a goal and relentlessly pursuing it despite the hurdles. His expertise in the field, coupled with an innate ability to innovate and learn from mistakes, sets him apart. He exemplifies the essence of understanding one’s team, harnessing their capabilities to foster collective growth.
Sam Immanuel — The Continuous Innovator
Sam Immanuel’s journey at SemiColon is an illustration of leveraging unique selling propositions and extensive industry experience. His tenure at Accenture and his work in EMEA equipped him with the tools necessary for constant innovation and relevance in a competitive market. Sam’s ability to navigate Semicolon through the innovation talent market in which it plays draws on this vast industry experience and expertise which he puts to great use nurturing and shaping technologists and entrepreneurs in Nigeria who are poised to drive a new future.
Okey Esse — The Tenacious Force
Okey Esse’s journey to establishing Powerstove is a testament to tenacity and purpose-driven entrepreneurship. Driven by the loss of his mother, Okey’s various ventures culminated in the creation of Powerstove. His ability to articulate its impact, his unyielding spirit in the face of hardware business challenges, and his focus on people and planet are laudable. Okey exemplifies the capacity to identify multiple revenue streams, adding depth to the value chain.
Faiz Bashir — The Passionate Educator
Faiz Bashir of FlexiSAF portrays a founder driven by passion and an unwavering commitment to education. This commitment includes improving education quality through technology to support and create opportunities for out-of-school children. His journey underscores the importance of building a strong team to complement each other, a relentless drive for innovation, and the courage to introduce novel solutions into the market.
Drawing from these and other fascinating founder narratives I have been privileged to, some key characteristics emerge that in my opinion characterise these successful African startup founder. Here are some of the key ones I’ve consistently come across in them:
- Storytelling Prowess: They possess the unique ability to weave compelling narratives around their vision, attracting stakeholders to their cause.
- Industry Savvy: Prior experience and deep industry knowledge enable them to navigate complex problems with acumen.
- Innovative Mindset: Their solutions are not just creative but are grounded in practicality and feasibility.
- Customer-Centric Approach: Their businesses revolve around the needs and feedback of their customers, ensuring product-market fit.
- Execution Excellence: They understand that passion alone doesn’t suffice — market entry strategies and the ability to pivot are crucial.
- Openness to Collaboration: They value mentorship, partnerships, and team inputs, recognizing the power of collective wisdom.
- Self-Awareness: Knowing their strengths and weaknesses allows them to build balanced and effective teams of people around them.
- Revenue Diversification: Their ability to identify and exploit multiple revenue streams ensures business sustainability.
I believe that each of these founders embodies the spirit of African entrepreneurship — a blend of bold vision, unwavering determination, a profound understanding of their market and an ability to inspire their teams to execute against the odds when required. Their journeys are not just individual success stories but in my opinion are symptomatic of the latent potential of the African startup landscape.
As we reach the 10th Anniversary of our African Early Stage Investment Summit (#AESIS2023) which we created in recognition of the need for a platform to connect early-stage startups with angel investors and other sources of funding, I celebrate each and every African founder of an innovative startup aiming for economic development creating social impact and wish them all the best!
As usual I welcome all comments and questions. Thanks for reading.
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