Increase in the acquisition of sustainable funding sources for participating hubs
One of the objectives of the ACBP is to ensure the sustainability of hubs through the provision of quality learning sessions on management and fundraising techniques as the sustainability of a hub’s operations could depend largely on its funding source. It is however expected that hubs are able to transition to more sustainable funding sources through the application of lessons learned on the AfriLabs Capacity Building Programme (ACBP). A comparison of the data between the hub’s funding sources before the ACBP and after shows that there has been a general drop in the use of unsustainable fund sources such as personal savings, family, and friends for running hub operations and activities. An increase has been recorded in the acquisition of new funding opportunities including grants and venture capitalists. There is a 4% increase in the number of hubs that mentioned grants as one of their current funding sources and a decrease in the unsustainable use of personal savings for implementing the hub’s operations. 10 hubs have mentioned they stopped running hubs operation on personal savings, and 8 hubs stopped relying on contributions from friends and family for implementing hub’s activities. Similarly, there is a reduction by 3 hubs in the number of hubs that depend on bootstrapping as an unsustainable fund source.
Hub’s funding sources before ACBP & after previous vs current n = number of hubs that have participated in ACBP activities
40
37
35
33
30
25
20
17
14
15
10
10
7
7
7
6
4
4
5
3
2
2
0
Venture Capitalist
Personal savings
Family & friends
Angel investor
Bootstrapping
Crowdfunding
Grant
Other major sources of funds include sales of company products and services including consultancy, co-working space charges, partnerships, and government funding. 62% of hubs have experienced an increase in their grant value between 2years ago and now. Additionally, 55% have been able to access other fund sources through the application of lessons learned from the ACBP.
16
ACBP Impact Assessment Report
Made with FlippingBook - Online Brochure Maker