Tag: Seedcamp

Bootstrapping, only for the brave

News from the conference room: this is a series of blog posts in which blogging experts briefly review key Tech4Africa 2010 talks and panels from Day 1 and 2.

Day 2

Some of us are entrepreneurs and some of us will always be employees. There are merits in both but nobody can deny the unmistakable allure of being able to say ‘I own my own company’. Today at Tech4Africa, Brett Haggard of Hypertext media chaired a panel of four remarkable entrepreneurs who are ‘Bootstrapping’ their way to success.

Before he began, Brett defined Bootstrapping as ‘starting and running a business without external financial contribution’. This definition, although contested by some of the panelists, set the tone for the session beautifully.

Barbara Mallinson, founder of Obami.com which is, in Brett’s words “Facebook for schools” says she chose to bootstrap as it’s very hard to find funding initially then, as the equity grows, it’s easier and seems more ‘worth it’ to carry on independently.

Andy Higgins from bidorbuy.co.za told his remarkable story at how at 24, he had a large balloon of VC funding which popped along with the dot com bubble. He tells of sitting in his corner office overlooking Sydney harbour thinking “the guy selling bagels at the corner is making more money than us”. Astoundingly, his company survived by bootstrapping and focusing on 2 core sites. Now, bidorbuy is South Africa’s largest auction site and his company is growing stronger every day.

Eve Dmochowska is perhaps the most inspiring of the panel as she challenges the thinking that you are own your own as a startup owner. She recently formed Crowdfund which sources capital from the South African public for South African startups. She said that our situation is one that makes tech entrepreneurs a rare breed. “If you want to get money, you need to get it from friends, family or fools, the banks and the government will laugh at you” so to get a startup off the ground, you need help from your peers.

Another initiative from Eve is GeekSpace, a communal working area where freelancers in many fields can not only work together in the geographical sense, but also barter services with each other to compliment their respective businesses.

Gareth Knight could be called a serial bootstrapper. He organised this phenomenal conference and is currently on his 8th startup. When asked why he chose to bootstrap, he said “When you have passion for something you don’t want to see it die, you need stamina that pushes that passion through but you ask yourself, ‘how do I do this in a way that will allow me to have the privilege of being my own boss?”, if you want to enjoy the view, you have to climb the mountain”.

As someone who does not consider myself a born entrepreneur, the session today made me think: It could be worth one day following in these amazing individuals footsteps and starting my own business. It may fail, it will almost certainly be hard, but maybe‚ just maybe, it’s worth being brave, taking that leap off the cliff and hoping like hell I can fly.

Heidi Schneigansz
http://snowgoose.co.za
@snowgoosesa

Advice for entrepreneurs

News from the conference room: this is a series of blog posts in which blogging experts briefly review key Tech4Africa 2010 talks and panels from Day 1 and 2.

Day 2

Marcel Klaassen, from FNB, in his opening remarks of Day 2, gave participants at Tech4Africa four crucial pieces of advice for new entrepreneurs in South Africa:

1) “Smurf it up” – Focus on your passion! Because of the way the world has flattened, you can do what you’re passionate about. You’ll probably find an audience for it, and you’ll probably be able to monetise it.

2) Appreciate business fundamentals but don’t be restricted by them. Embrace the business model, but keep it simple.

3) Be patient. Inevitably you are the curve. Not just ahead of the curve, you are creating a completely new curve. Decide where you are in the cycle. Are you the bus? Or are you the person helping people onto the bus?

4) Quote from Adrian Gore (Founder of Discovery). Being an entrepreneur is like jumping out of an aeroplane with a box of silkworms instead of a parachute, and praying that they are overachieving silkworms!

Samantha Fleming
http://afrosocialmedia.wordpress.com/
@afrosocialmedia

SeedCamp selects top African startups

Seedcamp, a European micro seed fund that invests in early stage startup companies, has selected 10 South African technology startups to possibly attend the Seedcamp Week programme held in September in London, UK, where they will be in line for a potential €50,000 investment.

Seedcamp, in conjunction with the Tech4Africa conference, recently put out a call for applications for funding and received over 40 applications from technology startups across South Africa. The 10 selected African entrepreneurs will have a rare opportunity to pitch their businesses at a group of people connected to powerful investors, mentors and startups throughout EMEA, with one team being chosen to take part in Seedcamp Week in London.

Seedcamp offers standard investments of €30,000-50,000 to selected companies and connects next generation developers and entrepreneurs from a network of over 400 top-tier industry mentors.

The 10 selected startups include:
10Layer: The most feature-complete, competent and customisable open source content management system for serious publishers and media houses.

Cobi interactive: An incubator for developing mobile software ideas. Cobi focuses on investing in areas with varying degrees of risk – contract mobile software development, partnerships and their own products.

Cognician: The original thinking guide. A software application that automates complex intellectual tasks by asking you a range of intelligent, thought-provoking questions.

Cred: A micropayments and subscriptions service that allows you to monetise your text, audio or video content. The Cred API can be deployed with any content management system and allows for the purchase and redemption of Cred at content partners.

Feeperfect: Permitting any user to find the mobile contact number of anyone registered on iYam.mobi, using either SMS or the web. Feeperfect are building, and permitting anyone to build, quality SMS services people are willing to pay for.

FloCash: The first cross border Pan African payment network offering basic financial services to the un-banked masses, the platform of choice for facilitating e-commerce and drive the exchange of ideas, people and services between nations.

GetaGreatBoss: We enable great managers to showcase their management strength in order to attract talent and boost their own careers.

Obami: A web-based communication and collaboration platform that’s been developed for use within, and between schools. Obami ensures a safe environment for kids to interact with each other and the adults in their lives. Obami, which is free to schools, believes that helping to expand school life beyond the boundaries of the classroom wall will have a significant impact on Africa’s future.

iSigned.com: Offers secure, permanent online storage, management and sharing for legal & other important documents. Individuals & businesses can use iSigned to store wills, legal agreements, investment records, etc and share them with other parties securely.

Thisarmy: Builds clean, simple & fun web apps.

Twangoo: South Africa’s premier group buying club uses the power of the web to create a platform for its members to access exclusive deals at restaurants, spas, lessons, sports facilities, events etc.

Gareth Knight, managing director at Technovated, the company behind Tech4Africa, says: “It seems that for a long while the disconnect between entrepreneurs, angel-funders, early stage funders and established institutional funders, was a chasm too far to cross. I’m delighted that SeedCamp has come to Africa, to address that issue and create a more aspirational and conducive environment for startups and entrepreneurs. The response and quality of applications has been superb and it’s great to see these companies with disruptive ideas coming out of the woodwork. I hope to see them in London soon!”

Seedcamp is running in conjunction with Tech4Africa, a conference that runs from 12-13 August 2010 at The Forum in Bryanston. The event is targeted at business professionals and technologists from businesses of all sizes, from entrepreneurs and start-up owners through to professionals working at large organisations.

A stellar line-up of international speakers – including speakers from Twitter, Mozilla and Yahoo! – will be presenting at the conference. Clay Shirky – one of the world’s leading thinkers and writers on the social and economic effects of Internet technologies – will be a keynote speaker. More details are available at http://tech4africa.com.

Seedcamp to jump-start African tech entrepreneurs

Seedcamp, a European micro seed fund that invests in early stage startup companies, will be attending the Tech4Africa conference in August this year to identify African startups for potential investment and an opportunity to attend the Seedcamp Week programme held in September in London, UK. This marks the first time that a Mini Seedcamp programme will be hosted in Africa.

A few selected African entrepreneurs will have a rare opportunity to pitch their businesses at a group of people connected to powerful investors, mentors and startups throughout EMEA, with one team being chosen to take part in Seedcamp Week, where its founders will gain exposure to investors and world-class mentors.

Seedcamp is a programme created to jumpstart the entrepreneurial community in Europe, Middle East and Africa by connecting next generation developers and entrepreneurs from a network of over 400 top-tier industry mentors.

It acts as a micro seed fund to invest in startup companies, offering standard investments of €30,000-50,000 to selected companies. The initiative’s flagship event, Seedcamp Week, takes place in London in September every year, and it is here where beneficiaries for the post-3 month programme are chosen.

Following Seedcamp Week, the companies who receive investment stay in London for three months to grow and develop their company, building key and lasting business relationships along the way to help them sustain a viable business.

Reshma Sohoni, CEO at Seedcamp, said about the upcoming event: “We want to provide a catalyst for the next generation of African entrepreneurs and help them take risks, think big, and succeed. Our programme provides entrepreneurs with access to seed funding but also more importantly, gives them exposure to the collective experience of people who can help them to build successful businesses.”

Or as Gareth Knight, managing director at Technovated, the company that is organising Tech4Africa, put it: “In addition to a direct route to seed and venture capital, companies that participate in Seedcamp get enormous validation and access to a world-class network of advisors that help them with every aspect of their businesses”.

Applications open on the 5th July, and close on the 23rd July. Judging will then take place, with teams notified around 2-6th August. Places will be limited to 10 startups. African entrepreneurs that want to apply for the Mini Seedcamp Africa programme will be able to do it through the Tech4Africa Seedcamp page.

The successful applicants will have opportunities to interact with Seedcamp mentors and to present their businesses to Seedcamp. A committee may choose one startup to attend Seedcamp Week in London.