The Startup Accelerator That Wants Founders to Move to Africa

http://www.fastcoexist.com/3026243/the-startup-accelerator-that-wants-founders-to-move-to-africa

by RougeFemme • 12 years ago

40 23 12 years ago

jusben1369• 12 years ago

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.

macNchz• 12 years ago

$25k goes dramatically farther in Nairobi or Cape Town than it does in the Bay Area.

nashequilibrium2• 12 years ago

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.

EtienneK• 12 years ago

$25k in Cape Town? Won't go as far as you think.

majani2• 12 years ago

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.ke http://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

soneca• 12 years ago

It might be a good thing for everyone involved to watch this TV show about international NGOs in Africa: http://africasacountry.com/kenyas-first-mockumentary-takes-o...

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]."

kungfooguru2• 12 years ago

Doesn't Africa have enough problems to deal with?

kungfooguru2• 12 years ago

Why not fund Africans in Africa...

jotm2• 12 years ago

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.

deftnerd• 12 years ago

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.

nashequilibrium2• 12 years ago

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.

ihatehandles4• 12 years ago

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.

lgleason• 12 years ago

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..

AlexMuir• 12 years ago

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.

mhoad• 12 years ago

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.

ihatehandles4• 12 years ago

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

curiouslurker• 12 years ago

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:

"Access to $0.80 roti prata and $2.50 nasi lemak"

There is nothing African about this company.

krmboya• 12 years ago

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.

That just sounded wrong..

majani2• 12 years ago

I'm from 88mph's first ever batch. AMA

ihatehandles4• 12 years ago

Hey majani, think we can have a chat about that sometime? I'm on twitter by my same handle

The Startup Accelerator That Wants Founders to Move to Africa

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