Startup business funding is always the sticking issue when it comes to expanding and proliferating a startup. Your business idea will never become a reality unless you have the money to materialize it.
And, that’s where the main problem lies, getting startup funding for your business.
So, what are the best ways to acquire startup business funding?
How and where can African tech startups apply for startup funding? This article lists the five best ways for startups to get quick and reliable funding.
5 Best Ways for African Tech Startups to Get Quick Funding
Bootstrapping
Bootstrapping has startup founders using their own money and resources as pre-seed funding. This is a great way to keep the ownership of your business to yourself. Bootstrapping remains a popular startup business funding source for African tech startups.
Crowdfunding
Online crowdfunding is a convenient way to acquire startup business funding. If a crowdfunding campaign goes viral, your business can secure huge amounts of money. There’s no question of repaying any money besides the online platform charges. For budding African tech startups with limited accessibility & availability, crowdfunding remains a great funding avenue.
If most other options seem bleak, crowdfunding can be an easy way to acquire startup business funding.
Angel Investors
Getting an angel investor can be a blessing for any startup. They are generally high-net-worth individuals, established business owners, who invest their own money, unlike investment firms, in early-stage or growing businesses in exchange for equity.
Many prominent angel investors and venture capital firms across Africa are helping the upcoming African tech startups spread their wings.
Start-up Incubators & Accelerators
Special purpose vehicles of major corporations & investment firms, accelerators, and incubators provide or allow access to early-stage funding to budding entrepreneurs. They provide or lead to much-needed financing as well as offer vital mentorship programs to new.
MSMEs, allowing them to grow & flourish. In Africa, accelerator firms such as the ODX Accelerator helped more than a dozen African tech startups scale up.
Find out all there is to know about any incubator or accelerator firm before you apply for startup funding.
Venture Capital Firms
Venture capital organisations are akin to incubators and accelerators, only much larger in scale & scope. They are big investment firms who put in money and get partial ownership in promising startups. All MSMEs should apply for startup business funding with venture capital firms as they can boost them in every way possible.
If you are an African nascent tech startup & looking to apply for startup business funding, then Blaq Ventures offers you a golden opportunity.
Rise & Reign over the Industry with Africa’s Foremost Venture Capital Firm
At Blaq Ventures, we are a venture capital firm aiming at leading tech startups across Africa. We provide pre-seed funding, mentoring programs, continual strategic support, follow-on fundings, and help expand your connections. If you are the next major disruptor in the African tech industry, connect with us today & apply for startup funding.
Get pre-seed startup business funding of $100K and then subsequent stages fundings of up to $1 Million.
Find out more about Blaq Venture right here!