The GetFundedAfrica Fundraising Cohort Program, which began on May 31st, 2022, is still in its first month. This cohort program has 11 start-ups (Balance Bowl, Dillish Foods, Gist Mobile, Olili Foods, Pave HQ, Popote Payments, Regxta, Staffbus, Trade Lenda, Tribease, and Zvendo) on board with the specific goal of helping these start-ups raise funding in 90 days.
The program has been very progressive, as the founders of the start-ups have already been flooded with a slew of workshops and one-on-one sessions, all in an effort to help them become investor-ready and fully prepared for fundraising, which is the first step. Some measures have already been put into place by the GetFundedAfrica team to see that this program becomes a success.
Onboarding Remsana (Learning and Development)
The 11 start-up founders are being onboarded and freely registered to gain access to Remsana, GetFundedAfrica’s e-learning and development platform headed by Efe Ogundowole.
This platform features a variety of live sessions as well as audio-visual, self-paced courses, all of which are designed to help these business owners become investor ready.
This learning portal encompasses topics such as understanding investment readiness, investor types, fundraising stages, fundraising terminology, legal documents required to close a fundraising round, how to develop a pitch deck, how to pitch to investors, how to hire the right team, and much more.
The start-up founders get engaged weekly in a one-on-one session with the GetFundedAfrica team to deliver an update on their milestones and to address any current challenges and business-related issues in order to get solutions and clarity on crafting things like pitch decks, fundraising roadmaps, financial models, and so on.
A recent session themed “The Art of Pitching” was conducted to educate the founders on how to effectively design and deliver their pitch decks.
Ajay Ramasubramaniam, Founding Partner & CEO of Hindsight Ventures, and Jagruti Bista, co-founder, were introduced to the start-up founders as the guest speakers. During the introductions, it was mentioned that pitching might be difficult until you can get beyond the initial hurdle of convincing an investor to really be interested, irrespective of the idea or traction that a start-up has achieved. The various start-ups also took turns introducing themselves, their businesses, and the solutions they provide.
Ajay and Jagruti commenced by complimenting their elevator pitch and emphasizing the importance of being able to articulate properly as an entrepreneur.
“Once you choose the path of entrepreneurship and building a start-up, almost every single day you are constantly pitching. Pitching to get your co-founders on board, your first customers, to an investor and even to hire someone.”
They immediately begin outlining the essential elements of a pitch deck, how to create one, as well as how to define a pre-existing pitch deck.
After the lesson, the founders took turns in a 4-minute pitching session to present and pitch their ideas. Following each pitch, feedback on both the positive and necessary improvements was provided and that brought the session to an end.
Tunji Oke, co-founder/COO of GetFundedAfrica, led one of the many other workshops that took place, where he guided the start-ups through a class where they were provided with templates and taught how to create investment teasers.
He began by addressing a common investor concern that centres around the presentation of inappropriate quality information from start-ups, which wastes a lot of time and causes a lot of distractions on the part of investors. He goes on to say that these investors com e across a lot of deals every day and that the main objective should be to get their attention first, before anything else.
Following that, he gets into explaining what an investment teaser is, when to use it, and how to create a compelling one using examples. Finally, founders were given the opportunity to ask questions as well as demonstrate and present their customized investment teasers.
These are just a few of the several systems in place in the Fundraising Cohort Program to enable these start-ups to grow effectively, which is GetFundedAfrica’s main goal.