VC4Africa recently announced that 92 companies listed on its platform have secured $12 million in funding. This is one of the findings from a survey recently conducted by the company with entrepreneurs listed on the online platform.
Entrepreneurs with a venture profile published on VC4Africa were asked to participate in an online survey. The survey was sent to 800 entrepreneurs and 160 entrepreneurs responded, a 20% response rate. Participants in the survey received the ‘Jobs Creator’ badge in recognition of their positive contribution to society.
- Combined, 92 of the 160 ventures that participated in the survey were successful in securing nearly USD $12,000,000 in funding;
- On average, startups registered with VC4Africa secured USD $80,000 in funding vs. expansion companies that secured USD $237,000;
- Ventures with an urban focus secured less than ventures with a rural focus. Where the former secured USD $119,000 the latter secured nearly USD $166,000 on average;
VC4Africa is Africa’s largest online platform connecting entrepreneurs and investors. Presently more than 800 companies have published their venture profiles on the platform, selected from over 1600 applications of entrepreneurs all across Africa. The ventures on VC4Africa are early stage and require investments less than USD $1 million. The primary sectors include mobile, web, renewable energy, healthcare, education and agriculture, amongst others. Each venture registered on VC4Africa is scalable, makes smart use of technology, or is disruptive in their application of a business model. Around thirty percent of the ventures have an explicit social mission and could be qualified as a social enterprise.
Entrepreneurs who register their companies on the VC4Africa platform have access to free online tools, mentorship opportunities, private deal rooms, and networking opportunities with the VC4Africa Investor Network.
