Quote 1: " "Instead of building the third, fourth, fifth photo filter file sharing app, you can solve big problems and disrupt industries.”
Quote 2: "the accelerator invests an average of about $25,000 in early-stage companies"
I don't really care much about whether it's the chicken or the egg but if you give people $25,000 and a 12 weeks to sink or swim you can't really blame them if they create another photo filter app. They sure as heck don't have the runway to solve big complex problems and disrupt industries.
Given the distance and size and scope of Africa's problems maybe they should "disrupt the accelerator industry" and pay two founders salaries for 12 full months to go solve big complex problems.
I'm from 88mph's first batch. in Nairobi. They gave me 25k USD to test out my idea to build Kenya's first blog network( http://ghafla.co.kehttp://tambaa.co.ke and http://duwaa.co.ke ). Needless to say, my investors were pleasantly surprised when I built the whole company using that money. Now we make 25k USD a month
Please don't take anything I say as criticism, but somewhere else in the thread you've said AMA, so:
- Why exactly did you need 25k to build Kenya's first "blog network"?
- Where did the money go? Can you provide us with a break down?
- What prevented you from doing this without the 25k investment? You could have used Wordpress and a host like WPEngine, and I can't think of a cost more than $25-100/month.
- Are you paying writers, or is this all freely written content? Or are you just linking to other blogs in the market?
- Also, not a question, but except for the first link, the other two sites are down for maintenance.
and goes dramatically further in Nairobi than Cape Town, especially with hollywood buying up a lot of land there a few yrs ago. Also, you will not be developing for smartphones, but for blackberry's, old nokia's & samsungs.
PS: Africa is not a country, very different situation in each country. So lets stop saying Africa and talk about specific countries because talking about Morocco & Namibia or Egypt & South Africa as the same is just silly.
If ever there was a top comment done in one line it's this. Also, let's remember that Elon Musk, Mark Shuttleworth, Roelof Botha are from South Africa.
I have no idea, maybe they want the model of startup entrepreneurship they see outside (19 billion hint hint) and want that in their portfolio too.
"it has only accepted five or six companies in some classes due to a lack of fundable options"
In my experience with South Africa there are a LOT of people trying out their luck with accelerators. I don't think it's that they can't find options, but I suppose options they like: and the wider world offers that more than Africans themselves. Hmm.
They can benefit immensely from knowledge and experience that is considered basic in the West. Hell, even Eastern Europe has a lot of things to learn in that regard.
We in the West have no idea what problems they have and what technologies would be applicable.
I would rather see an exchange program. trade groups of founders for 6 months at a time.
A successful African developer might have some ideas on a product for rural Americans with poor broadband, or populations that do lots of shopping at small markets rather than grocery stores, or organizing ride shares, or getting low-availability clients to get vaccinated.
Lots of things in America are diminishing in quality. We aren't anywhere near third-world status, but we can learn a lot from the people who have made things work in those badly managed systems.
By African, you mean one of those people who has never seen a stable Internet connection or even a stable power line, or you mean a South African from Johannesburg?
Cause there's a big difference, and I don't think the former would have many good ideas for a developed country, even for it's worst areas. No offense, it's just that the more you're exposed to various things and technologies, even simple ones like silicone sealants, drain pipe cleaners, proper supply/sewage pipe laying, a plotter, or a proper 3-axis lathe, the more you're able to create.
And did you see first hand how things "work" in those systems? They barely function - I'm talking about waste management, bill payment and banking, Internet and electricity, even food and goods delivery/distribution (surprisingly hard when you don't have established land/sea/air shipping routes nearby) - things that you take for granted in the US, UK, Germany, any first world country.
Also, few things are designed for long term over there, it's mostly short term fixes and patches, over and over again.
That's a very valid argument and interesting thoughts. I know a few people at 88MPH will pass that to them and see if they appreciate the essence of your argument
Funny (if not relevant) quote from the show's creator
"What’s the craziest story you’ve heard about an NGO?
I heard from someone in the US that an organization was having a charity auction to raise money for endangered rhinos and the prize for this charity auction was to go hunt a rhino in Namibia. [AIAC note: Yes people, this happened. You can even see it on the Colbert Report and CNN]."
I just so happen to be moving from Australia to Kenya for half a year in a few weeks, I am really keen to drop by their offices in Nairobi and check this out in person.
Given what I have seen in South Africa, $25,000 is the equivalent of $50,000 here in the US. With that being said the local investment community has some catching up to do. The ideas and talent are top notch.... a lot less wantrepeneuers and ideas that are much more practical than yet another social app etc..
I chatted a while back with Kresten Buch who set this up. I know he's keen to attract experienced developers/founders to mentor teams there. If you seriously fancy broadening your horizons and spending a few months in Africa then it's a great opportunity - drop them an email.
Looks like the company they are touting as a 'major success' is based in Singapore with Singaporean founders, serving Singaporean customers. One of their featured perks is:
The opportunities definitely are there, and so are the challenges which go beyond the usual PMF jazz. That being said once you figure the environment out you really can make headway. If it worked for me then it'll definitely work for you guys
So I was speaking to a musician part of a music startup they've funded and he told me 88mph got them a software dev from Europe to handle the tech side of things.
Quote 2: "the accelerator invests an average of about $25,000 in early-stage companies"
I don't really care much about whether it's the chicken or the egg but if you give people $25,000 and a 12 weeks to sink or swim you can't really blame them if they create another photo filter app. They sure as heck don't have the runway to solve big complex problems and disrupt industries.
Given the distance and size and scope of Africa's problems maybe they should "disrupt the accelerator industry" and pay two founders salaries for 12 full months to go solve big complex problems.