Recently, I hosted a pan-African entrepreneurship accelerator for female founders which comprised of a week-long in-person training programme hosted in Kampala, and an eight-month virtual support programme, to train female entrepreneurs on growing their business.
It was the first of its kind on the continent as it focused on female entrepreneurs specifically in the engineering and tech industry. We received 175 applications.
I was blown away by the calibre of these founders, the businesses they were running and the revenues and opportunities they were creating in their countries.
However, in addition to having started successful businesses with potential to grow, all these women founders had something else in common: none of them had venture capital funding.
When funding female founders, we change the game and everyone wins
They lacked the funding to grow, with most of these entrepreneurs self-funding, borrowing money from family, having a separate day job, or applying to competitions for prize money to grow their business.
In a time when a new fund for entrepreneurs is announced every other day, most female founders in Africa have yet to access this critical funding.
Women have always played a significant role in the entrepreneurship ecosystem, especially in Africa. This role has largely been in the informal Click here to read entire article
Source:: Venture Burn