“We are only backing transformative ideas. Ideas that can transform and change Africa” – Dr Akintoye Akindele.
You all know how important starting off the morning on a great note is, that’s why they say breakfast is the most important meal of the day. But starting off the week is just as important and so…
This is why we wanted to share this amazing news with you. A great opportunity for start-ups with transformative business ideas has presented itself, and it’s not just for the benefit of start-ups but also for the continent.
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Dr Akintoye Akindele is not just the founder of an equity firm, but believes in developing our continent. And in order to do that he believes that the old school model of investment needs an update.
“When questioned on why Platform Capital was setting up shop in Africa’s largest capital market, Akindele notes that just because there is a lot of capital in SA, does not mean it will find its way to businesses that need it.” (Business Insider)
He went on to say that majority of the capital in South Africa is dedicated to the ‘old’ sectors, such as mining and finance sectors. “There is a shortage of capital when it comes looking for promising investment opportunities like startups.” (Business Insider)
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According to Business Insider, he said: “We are moving to a world that is far more different than where we are coming from. The biggest export on the continent is our people, our music, our lifestyle. The current capital base does not understand how to access those markets.”
Bold statement indeed, but definitely worthy of applause. Their aim is not just invest in SA businesses, but also to coach them into being investment ready for other opportunities. An investment firm that wants to mentor… sounds inspiring.
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Some of the criteria he is looking for in South African start-ups include:
– The drive, passion, and enthusiasm of the team. How much do they want to change the world with their business idea?
– The leadership team – skills will be assessed but what about their passion for their idea?
– How flexible are you and your team? Flexible enough to change your business plan, the ideas or assumptions that underpin the plan in its entirety?
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“Platform Capital set up offices in Johannesburg nine months ago and aims to invest $20m in 20 South African businesses a year. The group has already invested in three businesses.” (Business Insider)
If you were looking, then maybe this was your sign for an investment opportunity that could launch your business into changing the world, not just the continent…
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