T H E M E 1
ESOS AND ENTREPRENEURS NEED TRAINING IN VARIOUS BUSINESS AREAS
What could ESOs do about this? (% of rating)
Investors provided several recommendations to ESOs to bridge these gaps. 36% of investors believe that ESOs should provide capacity building support to entrepreneurs. This observation is aligned with entrepreneurs and ESOs need for skills development shown earlier. The top priority remains skills development. According to inves- tors, if $1million was given to them, they will most likely focus on capacity building support. In addition, creating a platform that brings all the stakeholders together is a good way to “bridge these barriers”. 38% of investors think that ‘increa- sing numbers of pitch opportunities will certainly increase their engagement with ESOs and entre- preneurs’. In addition, ESO and entrepreneur focus groups indicated that there is a need for investor networks and ESOs to work together to design enterprise support programs in order to ensure that investor needs are properly covered. This collaboration can certainly contribute to ESOs capability to help entrepreneurs with investment readiness criteria and see to more entrepreneurs receiving funding from investors to scale their business. 75% of entrepreneurs from focus groups confir- med that they have participated in at least one ESO program. This shows that quality of startups across Africa largely depends on the competency level of ESOs.
10% 15% 20% 25% 30% 35% 40%
36%
25%
11%
10%
7%
4%
0% 5%
1%
Build a bridge between parties
Create an open network
Create client and partner relationship (less nurturing)
Create space for engagement
Ensure continious mentorship after funding
Provide a investor expectations guideline
Provide capacity building supports
If you were given a $1 million to improve hubs across Africa, what would you spend it on?
(% of rating)
Sponsoring entrepreneurs Testing market for viability Create a platform for all stakeholders Covering operational charges
11%
1% 1%
9%
Help entrepreneurs build financial models Helping hubs with linkages with each other Invest 50% in post PoC startups Providing capital to test markets and get traction
13%
1%
4%
11%
Building strong teams Capacity building supports Create a strong mentorship program Ensure corporate partnerships
3%
16%
57%
10%
0%
10% 20% 30% 40% 50% 60%
24
N E E D S A S S E S S M E N T R E P O R T
Trends and insights from ESOs, entrepreneurs, and investors
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