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SS, SE Startups: Uche Aniche & other ‘Angels’ visitation

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Angels, In the Holy Bible, who were sent to deliver messages usually start their words saying, “Do not be afraid,” or “Do not fear.” That’s a message of reassurance that they are bringing good tidings not confrontations.

The Bible also contains a lot of miraculous stories of angelic guardians and protectors helping the faithful all over the world, particularly, to achieve their goals, when ‘human’ capabilities have failed.

Well, this analogue might not necessarily represent, in full, what is currently happening or about to happen among South-South and South-East startup ecosystem, but one thing we are sure is that need for the ‘angelic visitation’ is inevitable. The angels we refer to here form Business Angle Network (or investors) who are ready to support the ecosystem.

Recently, when the news broke that Arone, a drone company with parent company Magic Mirror, has received the first venture funding of a startup at Roar Hub, the national dailies gave the report much prominence. It was historic with about N2million or $5,556 as the amount involved. The signal this sends is that of recognition, acceptability and renewal of hope.

To this end, we believe that the Convener of #StartupSouth, Uche Aniche is on the right path with the recent call towards the formation of formidable Angel Investment Network (AIN) in these regions.

In his recent blog post, Uche introduced the Angel Investing and Angel Network, stressing why there’s a need for such in the South-South and South-East of Nigeria.

Hear him: “Discussing Angel Investing and Network can’t be concise partly because money is involved…An Angel Network is a group of individuals/organisations coming together with a commitment to invest in early stage businesses.

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“An Angel Network will be beneficial to the regions because it will invest in Startups (mostly by young people) that will reduce crime, unemployment, talent migration and improve safety of other investments, infrastructure and attract talents and investment to mention just a few. We have provided an eBook on Angel Investing Q&A for your reading pleasure here”.

To save you time, Uche and the team have already planned a masterclass which will provide more information on the prospects of the Angel Investing and Angel Network.

Tomi Davies, President of African Business Angel Network (ABAN) will facilitate while Kola Aina (Ventures Platform) will share his experience. SA to Rivers State Governor on ICT will give welcome remarks.

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Why do we need these angels?

It is very simple: they are business people who have vast experience. So, investing in your business means they see a future in it.

Please, if they come around, cling unto them for the established network of contacts; they can make ‘introductions’ and often times attend meetings with you!

These ‘Angels’ are important champions for entrepreneurship, lending the founder needed credibility, and play key role in securing initial clients.

They test founders. These Business Angels believe in you easier and better than the government would. It will be difficult to get a bank to invest about N50,000 in your business, but an angel investor will gladly do, because he/she observes the growth process.

Back to Uche’s crusade, the masterclass is sponsorsed by like-minds at Genesys Tech Hub, FaceYouth, TechAdvance, Vantage Business, OlotuSquare, E&I, Swiss International Mabisel Hotel, DevEast, ABAN and LAN.

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“The biggest feedback we got as we engaged was that of near or total ignorance of the concept of Angel Investing and Angel Network. Not unexpected – Angel Investing and Network concept is fairly new in Africa and by extension Nigeria.

“Lagos Angel Network is barely three years old and two Demo days with a third planned in a few weeks so far. African business Angel Network is equally new with roughly twenty-three member angel networks”.

To read more about Uche plans, click here.

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