The genesis of an idea, metamorphosing into a startup is not an entire theatrical scene of an aspiring business owner. What augments the zealous endeavors of an entrepreneur is envisioning the expansion of a business.
But the amplification of a business’s growth is not solely dependent on the idea, adding to that, the next vital element is the startup business funding.
Especially for a startup, the strategy of business funding needs to be brainy, fierce, and calculative. This becomes evident in the assessment that a startup investor does. As a startup owner, the absolute imperative is knowing about the funding strategy and why it can be a game-changer for the business.
Now, if the next step is to apply for start-up funding, which is why this article must have served you, gear up for an ingenious startup business funding strategy!
Which Funding and Why? A, B, C of Funding Strategy Debunked!
A loss of direction can be a remorseful buzz kill for aspiring entrepreneurs at the inception level.
According to reports, the continent sees a colossal rise in tech startup funding with a 44% growth rate, which on the global map makes a record of being six times faster than the world business funding average.
Having such a climactic statistical picturesque backdrop, the need to stay awake to the knowledge of funding is indispensable.
Therefore, while signing up to apply for startup funding, make sure to know which type of funding to opt for.
Based on experts’ advisory notes, for any startup during its beginning phase, pre-seed funding is the most optimal choice.
Identified as the earliest funding round, pre-seed funding helps a business to raise money that can be risked, used, and amplified for future business expansion.
Giving a smooth start to business operations, pre-seed funding has worked miraculously for countless startups.
The latest data validates Nigeria and South Africa to be the top two nations that have seen the highest success rate of pre-seed funding, which has been the driving key for the fortification of the economy’s landscape.
This itself certifies the demand and authenticity of pre-seed funding to be a compelling element for any startup.
When to Start and Whom to Ask? Not just any X, Y, or Z, but Facts from Pro!
Make sure the timing is clear before you meet with the startup investors for pre-seed funding.
The correct application of funding strategy starts from learning when to seek seed funding. Validating a business idea is obviously the main goal; The question is, what’s beyond that, and how much capital needs to be allocated?
When determining when to ask for pre-seed funding, here are a few checklist items to consider:
- being confident with a potential market-fit of the product
- having an MVP that has gathered some significant/potential traction
- having a team of well-versed professionals on your side
- having clarity on goals, and the resource allocation
- having so far a business’s journey and a future roadmap design
Now, the only thing that remains to be done next is meeting the best tech startup investor in Africa for business funding.
Eminently known and widely reviewed venture capital firm, Blaq Ventures is the name that must ring a bell when applying for startup funding.
Offering beyond startup business funding, Blaq Ventures’ seasoned team further nurtures your goals with strategy and mentorship.
Gear up for a quick start!