Venture Capital for Africa (VC4Africa), the large African entrepreneur and investor community, launched an opportunity for promising African entrepreneurs to raise capital.
Entrepreneurs selected to be a part of VC4Africa’s June 2013 Cohort will receive three months of targeted coaching, personal introductions to angel investors and principals at key investment firms. Application closes Wednesday 12 June and selected entrepreneurs will be announced on Wednesday 19 June.
Entrepreneurs who apply must have a solid business plan, clear market strategy, a working pilot, and a skilled and experienced team. A chamber of commerce registration and complete documentation is a must.
Saskia Reus, VC4Africa’s Head of Investor Relations expands, ‘Bottom line, we need to believe in your business opportunity in order to explain the opportunity to investors. We need to be convinced to such an extent that we would want to invest our last money in your company.’
To apply, ventures have to register on the VC4Africa platform and express an intention to raise a round of funding between US$10 000 and US$1-million. Selected entrepreneurs will receive targeted coaching to reach their fundraising goal.
VC4Africa community representative, Rebecca Enonchong, says that there are few channels entrepreneurs can use to get access to investors.
“This is a great opportunity for the teams with regional and pan-African potential. Few entrepreneurs are fundable out of the gate. The VC4Africa team really makes the difference in getting teams to that next level,” says Enonchong.
The opportunity was announced at this week’s Global Forum in South Africa, at which a number of high potential entrepreneurs listed on the VC4Africa platform are pitching their business plans.