There are so many reasons why many startups fail, being in Kenya is basically one of them, from observation, I’ve learned there is rarely one reason for a single startup’s failure. However, lack of funding for your startup is always a big factor.
Most early-stage startups in the country often lack access to the capital and support they need to grow. so do you own an idea of a startup? do you have a startup currently in need of funding? This one is for you.
First, I do not guarantee you’ll get funding, every startup has different needs, and no financial solution is one size fits all. Your pitch and vision for your idea will shape the financial future of your business.
Once you know how much startup funding you’ll need, it’s time to figure out how you’ll get it.
Scrolling through the internet I came across, The Kenya National Innovation Agency (KeNIA), a State Corporation established under the Science, Technology, and Innovation (STI) Act, No. 28 of 2013 under the Ministry of Education. On the official website, there is a funding and investment section which redirects you to Investment Guide Africa. This is what I’ll talk about.
The Investment Guide Africa is implemented by the Tech-Entrepreneurship Initiative Make-IT in Africa, a GIZ project committed to facilitating access to finance, skills and markets for African start-ups.
Here you’ll find an array of investors actively looking to fund your startup. First, you’ll need to click on find an investor, from here you’ll be prompted to choose your country, the sector your startup is based in, the stage of development, and the amount of funding you need.
The website then automatically generates a list of investors from which you can choose any to fill out your funding application form.