WHY VENTURE CAPITALISTS LOVE TO THROW AWAY THEIR CASH ✨ DAILY SPARK
It is fascinating to see how the western world continuous to see (East) Africa as exotic — the blanc canvas to which anything and everything still has to be added.
I have no other explanation trying to understand why else 50+ ride hailing apps have tried to launch in Kenya alone over the past two years, while the market is pretty much already taken by local (LittleCab and Maramoja) and international (Bolt and Uber) companies very well established here.
My biggest frustration is not even with the startups themselves trying to enter the market, but with the enormous amounts of funds that Venture Capitalists apparently love to throw away.
SPARK OF THE DAY
Instead of funding fruitless projects born out of ignorance, why not scout for local talent with a more realistic eye for what the various opportunities are and give them the chance to 10x your investment — we have a whole eco-system of 100+ incubators and accelerators across East Africa ready to support!
You can start by DM-ing yours truly…