People ask the question, does VC4Africa produce success stories? First off, this is the wrong question. VC4Africa doesn’t ‘produce’ success stories rather our members do. In just the same way people make meaningful connections via Linkedin, our members are able to progress their African business interests via connections they make on VC4Africa. We don’t ‘manage’ the networking process, but rather focus on the technology, the platforms, tools and services that make it easier.
This aside, we are working to understand what works and where we need to invest more of our time and energy. Bottom line, we want as many entrepreneurs to find the support they need to realize their potential as possible. We measure both financial and non-financial matches. A key finding was to discover that 15% of members have been able to establish a joint venture partnership or secure finance via the VC4A network. Clearly we will be working to drive this number moving forward. Some other points we have distilled from recent user feedback.
– 86% of our members are registered as entrepreneurs and 12.8 % of our members are registered as investors
– 90% of our members have been a member for less than two years. 55% have joined in the last 6 months.
– 56.7% of entrepreneurs who have registered a venture found it worth their time and effort. 26.7% find the service ‘awesome’ and 43% have gained increased exposure.
– 36.9% of members have attended a VC4Africa meet up. The VC4A services that are the least known include Questions & Answers, Free Feedback Friday, the Mentorship Program and the Booster Program.
– 14.3% of members say VC4Africa does not create any value. 44.9% say we create some value while 26.5% say a lot of value and 14.3% claim the service is outstanding.
– 65% of members have gained interesting insights while 43% have been able to make meaningful connections.
Members in general find VC4Africa an effective tool for making meaningful connections. The site is personal, and the membership is focused and professional.
Moving forward, it was also made clear we need to be doing a lot more. VC4Africa needs to be better known, secure increased exposure, bring on board more entrepreneurs and expand the investor network. We also need to improve the user interface in a number of areas and offer more support in matchmaking, offering dedicated channels for connecting entrepreneurs and investors.
Now is the time for us to double our efforts. Join us on http://www.vc4africa.biz and together we can achieve even more.
Ben & the VC4A Team