global entrepreneurship summit | kenya, nirobi
TRANSCRIPT
120 countries
1000 participants
first GES in Washington DC, 2010
Turkey, UAE, Malaysia, Marocco, Kenya
next GES in Colombia
President Obama announced new resources to advance entrepreneurship in sub-Saharan Africa:
>$1 bln from banks, philanthropists, foundationsand the US Government to:
• youth• women• SME• early stage companies• social entreprises
24 July, Youth and Women Day25-26 July, GES 2015
Youth and Women Day
Youth and Women Day
Delegates from 120 countries - 300 people:
young companies/startupsyoung female entrepreneursfemale managers
WorkshopsIdea LabsSpark the Fire Pitch Competition
Youth and Women Day
GES 2015
GES 2015, Kenya
GES 2015, Kenya
Average Salary in Kenya $800-1400
E-gov: for citizens and non-citizens
SME’s provide 78% of country’s employmentmore than 90% of new jobs
Among 8 New Emerging Countries
Incentives in Kenya
Finance:Banks, simplified access to loansfor young entrepreneurs and womenlow or no %
Knowledge:Mentorship programscross-border
Internationality:Openness for newcomersand businesses
Kenya Leadership
President Kenyatta voted the best Africa’s president 2014/2015 for his outstanding leadership
GES 2015
InvestmentsDevelopingmarkets
Women Entrepreneurship
Developing Markets
more opportunitiessimpler processeslittle competition
Developing Markets
Major players start entering markets
Blown with Investment
Developing Markets
Nicola D’Elia, Regional Manager for Africa and Middle East at Airbnb(previously worked for Facebook)
Jumbu Palaniappan, Regional Manager for Eastern Europe, Middle East and Africa at Uber
Chris Garcia, founder and CEO of LA based startup TapEx
Workshop on Sharing Economy and Emerging Markets
Developing Markets
Workshop on Sharing Economy and Emerging Markets
Challenges on developing markets:
In may launched in Cubaonly 5% of population has InternetSolution: work with existing infrastructure
Will the same business modelwork on developing markets?150% test on the groundSolution: adapt to local infrastructure
Local team is the core
Balance in the global company
Localisation is crucial
Developing Markets
Focus on your unique proposition, instead of copying what could work in Silicon Valley,
because it won’t.
Investments
>$1 blnto Africa
Investments
The Overseas Private Investment Corporation (OPIC) will support up to $200 million for Equity Bank Group lending of $450 millionOPIC announced the Portfolio for Impact program, a two year, $50 million pilot program that will support smaller earlier stage companies that generate positive social impact.
The Department of State’s successful Global Innovation through Science and Technology (GIST) initiative will launch Africa-focused GIST
TechConnect, GIST Startup Boot Camps, and GIST STEM Women’s Village Workshops
Village Capital is announcing $13.2 million to supporting entrepreneurs at the critical seed-funding stage who are solving major problems in society.
The Global Entrepreneurship Network (GEN) is launching GEN Kenya and commits $100 million for programs to support entrepreneurs and the
development of their local ecosystems.
EBAN announced its partnership with ABAN (African Business Angels Network)to work on syndicated investment
Investments
Workshop «What Attracts Venture Capital»
SV Bank
Mara Group
Presidio Partners
Village Capital
Kuramo Capital
Investments
Challenges in developing markets
lack of early investors - angels
as a result - less companies can get to the next round - VC
Investments
Workshop «What Attracts Venture Capital»
Grow the upstream - early investors
The structure of investment is also crucial forfuture results
In SV: Why the idea is going to succeed Elsewhere: Why the idea going to fail
Fear of failure
Passion, not pride
If you join the rat race, at the end of the game, even if you win, you’re still a rat
Investments
Workshop «Angel Investing and Crowdfunding»
Don’t look for investor, look for partner It’s a 10 year old marriage and it’s always more than money
If there is no follow-on investment, angels should provide itthemselves What angel investors are looking for?
• Do your homework• Know your numbers• Show up sharp• Show the case• Don’t say you don’t have competitors-investors won’t believe you• After you receive money - don’tignore angels, send them updates, it’s only the beginning
Women Entrepreneurship
Women Entrepreneurship
9,5% founders-women
3% of venture funding
Women own 10.6 mln business in the US
Women make 85% of entrepreneurs in Africa
Every 4th angel investor in the US is a woman
Women EntrepreneurshipIncentives for development
Banks providing simplified access to initial business loans + financial consultancy
Women-led venture capital firmsbacking companies foundedby women
Mentorship programs for women from women
Challenges
Lack of government support
Lack of funding
Lack of self-reliance
Women Entrepreneurship
Rise the Tide Venture Fund
Dream Builderdreambuilder.com
GoGlobal236
Useful sources
educating women-investors
educating women-entrepreneurs
GES 2015
Growth of Emerging markets
Trending Women Entrepreneurship
Promoting opportunities on developing markets
Regina MakhotinaExecutive Director
UAngel