Most Business startups in SSE Nigeria are either self funded or kept in business by friends and family. 4kreport has featured quite a few number of them and all said they’re self funded by its founders. Although, some startups said getting capital is not the only issue, strategic partnerships to scale and business mentors are also hard to access.
A group of individuals with deep pockets, passionate about supporting and mentoring startups in the heartlands and Niger region came together to form South-southeast Angel Network(SSE Angels). A group of angel investors that’ll provide early stage capital and support to promising entrepreneurs in the region.
This has given the region some sort of validation as a startups support ecosystem and hopefully founders with great ideas might no longer find difficulty In raising startup capital.
The network is yet to make its first investment, would probably start funding activities before the end of the 3rd quarter of 2018. We caught up with some big guns in the startup world to shares their thoughts and opinions about this Network and what it means for startups.
“An angle network is a good thing. It means more startups have the opportunity to raise funding. So happy to hear about their launch”- Yele Bademosi, founder at Microtraction
“The basic understanding is that startups are closer to investors and investors become closer to mentors to these startups and can be a catalyst for them to succeed, compared to just receiving funds from investors far away” – Bruce Lucas, founder at Olotu Square
“it’s a great idea, Angel groups are key to proving early stage support and capital.” – Kola Aina, founding partner at Ventures Platform
“Business, inventions and ideas in the brooding in southeast and southsouthern part in Nigeria have not only been sideline for years but have depended heavily on high interest loans from commercial banks to thrive. despite the set back among other difficulties, the people have proven to be strong and dedicated and I believe strongly that with this angel network, high growth rate would be witnessed in businesses operating in the region. – Ogechukwu Uchechukwu, co-founder at GreenAge Technologies
Have an opinion about the Angel group? Let’s hear it in the comment box or on Twitter