GEARUP – This is the name of the new digital resource that helps African start-ups on their way to investor readiness. GearUp was created by konsultori in cooperation with the GreenTec Capital Africa Foundation, based in Germany and Africa.
The increasing economic importance of the African region is undisputed. It is characterized by an extremely dynamic business environment. Every year, the number of young entrepreneurs on the continent is growing. They increasingly see economic opportunities in the numerous social challenges that require a solution. The start-ups they establish create jobs and lay the foundations for economic prosperity for many people and the further development of the continent. However, for these start-ups to continue to grow after their proof of concept, investors, partners, and other financial support is needed. In this phase investor readiness is a central issue.
The co-founders of GreenTec Capital Partners, Eric Yong and Thomas Festerling, have been actively involved as impact investors in supporting entrepreneurs based in Africa since 2015. The GreenTec Capital Africa Foundation founded by them was looking for a partner to provide a digital resource for entrepreneurs to increase their investor readiness. An online platform allows rapid knowledge transfer to entrepreneurs. What do investors expect? How to prepare for the investment process? Which topics need to be developed before you are ready to approach investors?
Konsultori’s online product, Key2investors, has served as a digital resource for founders for three years. It supports start-ups in preparing for investor meetings, enables start-up evaluations and provides self-check tools on “investor readiness” or “preparation for negotiations”, templates for investment teasers and much more. It offers not only useful knowledge but also personal online advice, tools, video lessons, self-checks and online coaching.
GreenTec Capital Partners and konsultori together adapted Key2Investors platform to create Gearup specifically for African start-ups.
GearUp is tailor-made for African start-ups. The textual and video content have been tested internationally over the years. The rich background material is efficiently accessible through the online platform independent of user location. Interactive elements and videos, as well as self-checks, which help start-ups in a focused way, complete the offer. The live coaching is carried out in groups or individually. Startups can arrange web calls with over 20 business coaches from Africa.
We were proud to present Gearup at the African Business Conference in Abidjan, Ivory Coast, in October 2019. In the ecosystem panels and discussions with numerous African accelerators, start-ups and investors, we were not only able to establish valuable personal relationships, but also to discuss “investor readiness”.
In total, more than 70 start-ups will benefit from the African Startup Conference #EOM directly, in the form of prize money, capacity building and international appearance. The wonderful speakers represent leading ecosystem facilitators and decision-makers who are taking bold steps to unlock the potential of #AfricanEntrepreneursOnTheMove.