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Needs Assessment Report
Trends and insights from ESOs, entrepreneurs, and investors
This report uncovers the needs of ESOs, entrepreneurs and investors, as well as share emerging best practices and strategies to meet them. By highlighting key gaps, this report presents salient considerations. The needs assessment comprises analyzing quantitative and qualitative data collected from ESOs, entrepreneurs and investors through surveys and focus groups. The report was commissioned by AfriLabs under the AfriLabs Capacity Building Programme. Our partner, the African Business Angel Network (ABAN) carried out the data collection for investors.
Some key findings from the report include:
ESOs and entrepreneurs are paying more attention to skills development and seeing it as a vital component to their success: ESOs are particularly interested in knowing how to fundraise with foundations and donors; how to create, develop and track KPIs; how to communicate and reach out to entrepreneurs; and how to manage mentors/advisors, trainers and coaches. ESOs and entrepreneurs increasingly recognize the importance of mentorship and coaching for their ventures’ growth and prospects. Venture success implies much more than the availability of skills and financing. It is predicated on building a trusting relationship between entrepreneurs and investors. Investors want more collaboration and alignment with ESOs and entrepreneurs. This will require significant efforts from both parties. Women are under-represented among the population of ESOs, entrepreneurs, and investors. Women constitute only 29% of entrepreneurs, 30% of ESO founders, and 25% of investors. These statistics throw into light the gap between women and men in the African innovation ecosystem.
2020: A Resilient Africa: An annual report of AfriLabs impact
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