E X E C U T I V E S U M M A R Y
THE HIGHLIGHT REEL A qu i ck snapshot of i ns i ght s f rom i nves tor s , ESOs and ent repreneur s sur veys and focus groups
‘investment readiness’ broadly as the process and set of activities that make a business attractive to investors. With limited skills, ESOs will not be able to disseminate best practices for investment readiness to entre- preneurs. Data shows that entrepreneurship exposed ESOs and entrepreneurs to different modes of training delivery, including online classes and thematic workshops. When asked, 80% of entrepreneurs said that self-research through the web is the most relevant way used to gain knowledge. Literature reveals that the lack of mainstream curriculums in universities and training institutions highly contributes to the weak level of acquired skills which has inevitably led to a lack of skilled professionals leading ventures. It is evident, however, that most ventures’ employees have gained substantial knowledge from their entrepreneurial journey, yet to further strengthen the African ecosystem, there is a need to develop capa- city programs for ESOs and entrepreneurs to ensure continued and well structured empowerment scheme for entrepreneurs across Africa.
Theme 1. ESOs need training on setting up funding programs for entrepreneurs:
Within the African innovation ecosystem, there is a need for business competencies for successful new business creation and growth. 79% of entrepreneurs rated ‘Fundraising’ and ‘international connections’ as the highest relevant skills to have. The skills needs vary according to entrepre- neur’s venture age. The older the venture, the less the training in ‘fundrai- sing’ and ‘international connections’ is needed. 68% of ESOs ranked ‘Ma- naging a fund/providing grant money’ the most relevant activity they need training in. These needs were rated equally as important to female entre- preneurs. 74% of ESOs need support in‘ developing fundraising programs’. These needs were expressed by all ESOs, independent of their financial status and cohort of entrepreneurs they support. The analysis also shows that there were weak levels of satisfaction among investors regarding the efforts made by ESOs to get entrepreneurs ‘investment ready’. We refer to
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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