Summary of Lessons to learn from the biggest Startup Failures In Kenya. 1. Innovation is great, but scaling responsibly and diversifying is what counts. (iProcure) 2. Beware of low margins and high costs. Also, success is as much about resilience as it is about adaptation. (Market force) 3. The setup is not just about saving the planet. Sometimes, it's about saving your own balance sheet. (Grow Intelligence) 4. You can have all the ambition in the world and the backing to match it, but without a sustainable revenue model, you're dancing on thin ice. (Copia)
definitely did not expect this to be a Kenyan channel, love the presenter and the 3d animation artist as well as the editor - great content too. you just earned yourselves a new sub
Startups are hard. I am proud of these entrepreneurs, they tried. In the process multiple models were tested, the tech industry grew, and customers got value.
I'm on my second startup backed by ALX Ventures and this video confirms a hypothesis I had about startups. Find product-market fit, be adaptable but above all, have a solid business plan. A quote I love by Stephen Schwarzman, Cofounder, Chairman and CEO of Blackstone Group: "I had reached an important conclusion about starting any business; it's as hard to start and run a small business as it is a big one. You will suffer the same toll financially and psychologically as you bludgeon it into existence... so if you're going to dedicate your life to business, which is the only way it will work, you should choose one with the potential to be huge."
Hi, Please make this into a series. Many report on amazing success stories of unicorns, but there are plenty of lessons hidden in those who attempted & failed. This helps us entrepreneurs learn a lot & avoid repeating mistakes
Almost done with my SWE certification, and already building my prospectus startup aimed at "business management", won't get into details, this piece has really put into perspective scaling, market environment and frankly a realistic analysis of innovation vs the speed of uptick and the market legacy competition. Love the presentation and edits lol, great food for thought, I hope not be part of a future startup graveyard........
Very surprised Twiga Foods is not on thus list. As someone who worked in thr tech insldustry during the startup boom 2014 and beyond...this video makes me so sad yet hopeful that we will learn from this
Weirdly each of these ideas are sound but implementation is still an issue for most start-ups in Kenya. Look at Copia for example, slower scaling and market-driven (working with the market rather than trying to force the market into a direction) innovations could have shown then that dealing with businesses rather than direct customer sales was a way better option (when starting at least). This way the market could get a feel of Copia's business model and react favourably or otherwise which in turn would provide information on how to proceed. MarketForce could have first conducted pilot tests and deployed gradually rather than going full scale. I some cases slower growth benefits a start-up rather than focusing on the loftiest goals since it allows the market to develop capacities and perception organically. We often forget that Africans are new to technologies and complex business model seem suspicious so slower implementation often comes as a benefit. While Africa, and in this case Kenya, has numerous opportunities for digitally-based growth we're still ways to go in capacity building and cultural acceptance. Thus any start-up should actually remain grounded in local realities rather than seeking to implement lofty dreams that the local population and economic systems are not ready to support or accept.
As a startup founder myself I have to say this video is quite insensitive. Describing all of these failures as inevitable and the companies as babbling 5-year-olds is very dismissive of all the incredibly difficult environment they operate in, of the enormous amount of work that they poured into creating something new, the sacrifices they made to start a new company as opposed to just working a safe and comfortable job at an established company. Let's just set the record straight: raising money has not been this difficult since 2008. We're seeing an absolute bloodbath among startups worldwide, not just Kenya, where companies with amazing future potential are cut off prematurely. It's easy to criticize from the outside with a hindsight 20-20 view on how they could have done better, but let him first cast a stone at her if you started a company and got everything absolutely perfect for the first time. Until then show some basic compassion towards these brave people, who tried and failed.
Its regrettably the truth in Kenya. Some of the startups are basically schemes by leading fund managers who are in for the commissions they get from the capital raising activities. Additionally, majority of these startups literally squander the money on flashy offices, too many unqualified staff, non-functional governance structures and over-ambitious management.
I was driving through a rural part of Uganda, called Kayunga and I saw Coppia boards on a shop door and I knew right there that there was something FUNDAMENTALLY wrong with model & i am not even a certified genius. It's classic-solving a problem that does not exist! I don't know about Kenya but what convenience are you exactly selling in a rural part of Uganda like Kayunga? If its not broken, they say, don't fix it. My grand mother in the village does not need to shop online yet there's a neighbor shopkeeper she's known for couple of decades is in close proximity. African problems are many- there's extremely financially rewarding opportunities in solving them rather than solving problems that do not exist!
As a Nairobi based founder, been here for some time and I can tell you, some failure trajectories are obvious. It could be difficult to cycle uphill, but it will be foolish and a waste of time to do so with square tyres. Most founders think that because it works in silicon valley it is going to work here. People here have no budget for tech, others don't even care. Founders foolishly assume that the 1.4B people in Africa is a by default ready market and that's what's fucks up startups like those named here.
These companies raised more money than most entrepreneurs could ever dream of. As an entrepreneur you make do with what you have and stretch it as far as you can before scaling and thinking about new markets. I don't trust that all of them were in it to truly solve a problem and help communities. Their main focus was investor funds.
Great content, quite an eye opener. Has anyone realized that apart from reja reja, all the companies were started by foreigners or the investors were attracted by non Kenyans running the startups.
This startled me, should local problems be solved by local entrepreneurs then go international., how amazon, Alibaba began.. foreigners use Kenya to get tech solving capital then close after funding..
Pure software startups will always work due to low running costs. e-commerce model like jumia, copier,twiga where you have lots of logistics and labour will always eat into your profits.You will have lots of cashflows but the macroeconomics will always catch up with you if not profitable.
These startups promise automation but all suffer from one thing. The unavoidable human element. Kenyans will always look for shortcuts or ways to shortchange each other
I'm stunned how many foreign investors are trying to cream the kenyan markets, kwani whats up with kenyan education ? i'm in london self taught in I.T Specialist, A.I. engineering and computer electronics cooking up ideas that i can try in Kenya especially focussing on combining tech with farming as all my ancestors before me hail from farming, none of my ideas are going to be incubated in the U.K. so shaking my head, i'm preparing to come back home and come share and test some ideas so please kenyans, believe in yourself, foreigners coming to milk our country to benefit their countries makes me sad. i'ld rather come home penniless with my ideas than be rich in the U.K., i guess i'm wired different.
We need something, I do suggested naming it a "Revisit Fund". Some of these ideas, after they have died, can be revisited with new perspectives. Not just to succeed, but to satisfy our curiosity. Who agrees with me on this?
VC and PE are loanshark endeavours in Afrika. The market data collated is often misaligned to local realities The market itself is fragmented and competition is robust at micro-level. Unless you are running a unique near-monopoly, there is Twiga in the foods!
Almost opened a copia agency in our home town only to hear they were having some headwinds. Stopped. 😮then we have so many young techies coming up with cheaper ways of doing things better than the already established market leaders.
One thing about entrepreneurship is the risk of gaining big investors for a toddler market. Always start small, that way you learn as you grow and you don't have much to lose. Imagine been given 4 billion and losing it! Your credibility gets tarnished in the eyes of the investors and trust,the most important thing gets broken.
The real business is in scamming foreign investors. Even a class 8 dropout in Kenya can tell many of those startups had unachievable and foolish ambitions.
I agree 100%. When you see black pple venture in things they usually hve little to no interest in (like environment, animal rights, green energy, global warming, saving children, carbon credit, climate change), just know MZUNGU is about to lose BIG MONEY in scam business.
@@cyclone886 This really made me laugh especially on animal rights, us Africans if left unchecked would butcher all our Safari animals and sell at the butchery as local delicacy😅
Fair point, At some stage, even the leanest startup can hit a ceiling where personal funds and organic growth aren’t enough to fuel the next phase. Overambition without structure can sink a startup-but with the right funding and execution, it can also help you swim far beyond the basics.
11:32 meme finished me off. Bringing ecommerce to rural Kenya, what could go wrong?!. When you actually think about it, most of these companies sound like schemes to rip off investors, I do believe Tash and co had good intentions though.
It too hard to grow a start up in Kenyan market or Africa at large but we hope things will improve, if you start up doesn't turn profit immediately you wont succeed trust me.
The answer is simple, they all have business models that are not solving any problem nor addressing any pressing need. So basically, there's no value these companies are creating/providing
Let me see if I'm following this. Some MBA wielding wizkid comes up with this 'innovative' idea,pitches it to investors hoping it will be the next 'big thing in tech', even before the concept has been proven profitable. They pump in their dollars and hope it works as advertised. Some people clearly have more money than good judgement.
Gro Intelligence, should be as valid as possible right now, leveraging the current AI technologies to easen their workflows. Someone slept at their job!
The thing with Kenyan start ups is that they are fixing problems that are usually fixed by governments in other countries. For example - education, good security, agriculture, healthcare. One reform change and this will mess up a start ups model.
The foreign inventors are the real beneficiaries they come up with ideas get funding from big investors and after it fails which they expect they close the company and leave. The cycle continues
I started a e commerce startup called kemcary in 2020, my main focus was university students. it was hard to start the engine but at least i learned a lot for the 2 years i worked on the startup, long live kemcary in the graveyard
I knew Copia wouldn't survive from the word go. Rural markets and merchants work with people they know and have build rapport over time. They also like buying things on credit which many fail to pay unless "threatened" or taken to court.
One of the major failure is because those inventors are not from kenya, they are just driven by the funding which when they get, they move out of the country.
The only startup I know from the list is Copia. I thought they were a company. All I heard about them from my hood of Umoja is how efficient and cost-effective effective their services were to really small scale businesses. Sad to hear their model failed. I have enjoyed the presentatikn and education.
The missing link in all these entities is a strong local context from a local lens. Cut and paste of silicon valley growth models just won't cut it. Local enterprises should be built with sustainability and profitability as fundamental metrics to aspire to. Founders should resist the urge to take funding for the sake of scale that might be impossible to achieve without corresponding sustainability and profitability. Local capital, where are you? Your absence in this entire conversation is deafening.
Build in public see what your ideal client is willing to pay... At the end of the day market forces win. If your the majority of your ideal clients don't wanna pay for it severally, then it's a hint that your solution might be solving non-essential problems that have a lower cost of work-arounds. Adapt or Die.
Most of these investors have themselves to blame. They splash money on Start ups that hire party boys and slay queens to steer brands that need more focused and ambitious people in leading positions. Some of them are basically get rich schemes by the founders with access to some top fund managers who are greedy and will ignore any sound advice from professionals just because they have a finders fee on the financing agreements.
Summary of Lessons to learn from the biggest Startup Failures In Kenya.
1. Innovation is great, but scaling responsibly and diversifying is what counts. (iProcure)
2. Beware of low margins and high costs. Also, success is as much about resilience as it is about adaptation. (Market force)
3. The setup is not just about saving the planet. Sometimes, it's about saving your own balance sheet. (Grow Intelligence)
4. You can have all the ambition in the world and the backing to match it, but without a sustainable revenue model, you're dancing on thin ice. (Copia)
Please share the documentation you displayed
I would be happy to see the ones which have succeded too!
Indeed, we all would, and in time we might cover the Startup haven.
@@elijahgakomo2386 This is quite interesting. How about they do Amitruck👌
definitely did not expect this to be a Kenyan channel, love the presenter and the 3d animation artist as well as the editor - great content too.
you just earned yourselves a new sub
Akiii Stop.We are flattered. Thanks for the great feedback, we will keep them coming.
Startups are hard. I am proud of these entrepreneurs, they tried. In the process multiple models were tested, the tech industry grew, and customers got value.
How exactly did the Tech industry grow 🤔 and more importantly how did the customer get value?
Great analysis, this is the side we don't see from the headlines.
The presenter is very eloquent, does she have more videos / a RUclips channel?
E.Michelle is a new host to our channel - you will definitely be seeing more of her right here, so stay tuned!!
I'm on my second startup backed by ALX Ventures and this video confirms a hypothesis I had about startups. Find product-market fit, be adaptable but above all, have a solid business plan.
A quote I love by Stephen Schwarzman, Cofounder, Chairman and CEO of Blackstone Group: "I had reached an important conclusion about starting any business; it's as hard to start and run a small business as it is a big one. You will suffer the same toll financially and psychologically as you bludgeon it into existence... so if you're going to dedicate your life to business, which is the only way it will work, you should choose one with the potential to be huge."
A lesson I have learned: I will solve a problem I have experienced rather than solve problems I imagine others are going through.
The narrator is a very good story teller. I've loved this video. She should appear more.
We are glad you enjoyed the video!
Hi, Please make this into a series. Many report on amazing success stories of unicorns, but there are plenty of lessons hidden in those who attempted & failed. This helps us entrepreneurs learn a lot & avoid repeating mistakes
Definitely in the works, thanks for sharing your thoughts.
Almost done with my SWE certification, and already building my prospectus startup aimed at "business management", won't get into details, this piece has really put into perspective scaling, market environment and frankly a realistic analysis of innovation vs the speed of uptick and the market legacy competition. Love the presentation and edits lol, great food for thought, I hope not be part of a future startup graveyard........
Ameen!!
Very surprised Twiga Foods is not on thus list. As someone who worked in thr tech insldustry during the startup boom 2014 and beyond...this video makes me so sad yet hopeful that we will learn from this
Ulikula pesa fiti
I thought twiga is still operational, just changed the biz model
@@patrickmaina715 They are bankrupt google
Mobius Motors went bust too
I would have liked if you went through the reasons why or even how they could have saved themselves.
No no, Mobius is live and running. Around August this year it was acquired by an unknown buyer and operations are still running.
the sense of humor as well as the ability to articulate the scenarios is top notch
Cheers and thanks for watching
Very good video. Hopefully we will get more videos on startups in Kenya because we can relate with them closely. Subscribed!
Glad you enjoyed it! Stay tuned for more Kenyan startup stories.
Running a business is hard. If it was easy everyone would do it. Thumbs up for everyone hustling to make it out there.
This host has elevated this channel. Keep her
💯 we are definitely keeping her!!
Great stories, wonderful video editing, and an even better host. Would love to see more of these ❤️
Thanks! More to come!
Short form is enticing - around 10 minutes. Keep in up~
Weirdly each of these ideas are sound but implementation is still an issue for most start-ups in Kenya. Look at Copia for example, slower scaling and market-driven (working with the market rather than trying to force the market into a direction) innovations could have shown then that dealing with businesses rather than direct customer sales was a way better option (when starting at least). This way the market could get a feel of Copia's business model and react favourably or otherwise which in turn would provide information on how to proceed. MarketForce could have first conducted pilot tests and deployed gradually rather than going full scale. I some cases slower growth benefits a start-up rather than focusing on the loftiest goals since it allows the market to develop capacities and perception organically. We often forget that Africans are new to technologies and complex business model seem suspicious so slower implementation often comes as a benefit. While Africa, and in this case Kenya, has numerous opportunities for digitally-based growth we're still ways to go in capacity building and cultural acceptance. Thus any start-up should actually remain grounded in local realities rather than seeking to implement lofty dreams that the local population and economic systems are not ready to support or accept.
As a startup founder myself I have to say this video is quite insensitive. Describing all of these failures as inevitable and the companies as babbling 5-year-olds is very dismissive of all the incredibly difficult environment they operate in, of the enormous amount of work that they poured into creating something new, the sacrifices they made to start a new company as opposed to just working a safe and comfortable job at an established company. Let's just set the record straight: raising money has not been this difficult since 2008. We're seeing an absolute bloodbath among startups worldwide, not just Kenya, where companies with amazing future potential are cut off prematurely. It's easy to criticize from the outside with a hindsight 20-20 view on how they could have done better, but let him first cast a stone at her if you started a company and got everything absolutely perfect for the first time. Until then show some basic compassion towards these brave people, who tried and failed.
Its regrettably the truth in Kenya. Some of the startups are basically schemes by leading fund managers who are in for the commissions they get from the capital raising activities. Additionally, majority of these startups literally squander the money on flashy offices, too many unqualified staff, non-functional governance structures and over-ambitious management.
@@mugockyou've hit the nail on the head, I've worked for one of the startups and it's the naked truth
I was driving through a rural part of Uganda, called Kayunga and I saw Coppia boards on a shop door and I knew right there that there was something FUNDAMENTALLY wrong with model & i am not even a certified genius.
It's classic-solving a problem that does not exist!
I don't know about Kenya but what convenience are you exactly selling in a rural part of Uganda like Kayunga?
If its not broken, they say, don't fix it.
My grand mother in the village does not need to shop online yet there's a neighbor shopkeeper she's known for couple of decades is in close proximity.
African problems are many- there's extremely financially rewarding opportunities in solving them rather than solving problems that do not exist!
As a Nairobi based founder, been here for some time and I can tell you, some failure trajectories are obvious. It could be difficult to cycle uphill, but it will be foolish and a waste of time to do so with square tyres.
Most founders think that because it works in silicon valley it is going to work here.
People here have no budget for tech, others don't even care. Founders foolishly assume that the 1.4B people in Africa is a by default ready market and that's what's fucks up startups like those named here.
These companies raised more money than most entrepreneurs could ever dream of. As an entrepreneur you make do with what you have and stretch it as far as you can before scaling and thinking about new markets. I don't trust that all of them were in it to truly solve a problem and help communities. Their main focus was investor funds.
Amazing content! One of the very few local content that kept me glued to the very end. Eloquent and educative. Keep up!
Glad you enjoyed it! Keep your eyes peeled for more local content.
Nice video, but I feel you left out the following: Twiga Foods, BRCK, Wasoko and Kune Foods
Great content, quite an eye opener. Has anyone realized that apart from reja reja, all the companies were started by foreigners or the investors were attracted by non Kenyans running the startups.
Yep! Something we will be covering in future episodes
This startled me, should local problems be solved by local entrepreneurs then go international., how amazon, Alibaba began.. foreigners use Kenya to get tech solving capital then close after funding..
I'm surprised that you're surprised by that🤣
Kwani unajua sahi...
Pure software startups will always work due to low running costs. e-commerce model like jumia, copier,twiga where you have lots of logistics and labour will always eat into your profits.You will have lots of cashflows but the macroeconomics will always catch up with you if not profitable.
These startups promise automation but all suffer from one thing. The unavoidable human element. Kenyans will always look for shortcuts or ways to shortchange each other
give your video editor a raise. wonderful work
Ok how has this video not blown up??
Its great 🔥
Wanaongea kizungu...
I'm stunned how many foreign investors are trying to cream the kenyan markets, kwani whats up with kenyan education ? i'm in london self taught in I.T Specialist, A.I. engineering and computer electronics cooking up ideas that i can try in Kenya especially focussing on combining tech with farming as all my ancestors before me hail from farming, none of my ideas are going to be incubated in the U.K. so shaking my head, i'm preparing to come back home and come share and test some ideas so please kenyans, believe in yourself, foreigners coming to milk our country to benefit their countries makes me sad. i'ld rather come home penniless with my ideas than be rich in the U.K., i guess i'm wired different.
There is a possibility that none of them failed; they probably succeeded in doing what they were meant to, as per the founders.
Yap
This is such a good video.More of this is definitely needed in the tech space.
Great stuff. Love your content, very well done video. Please keep posting more
Asante Sana! More to come!
Working for a company that seems to be going down the same route..... so sad for those employees affected
Gani hiyo?
We need something, I do suggested naming it a "Revisit Fund". Some of these ideas, after they have died, can be revisited with new perspectives. Not just to succeed, but to satisfy our curiosity. Who agrees with me on this?
I love the editing❤..im hooked😂
VC and PE are loanshark endeavours in Afrika. The market data collated is often misaligned to local realities The market itself is fragmented and competition is robust at micro-level. Unless you are running a unique near-monopoly, there is Twiga in the foods!
For Copia, the business might have faced serious issues, but I bet you with all of that money raised, the founders are rich, rich, rich. 🤑
Great writing and delivery ! glad to discover your channel !
This lady is talented😇
We are lucky to have her on the podcast! Thanks!
This is hindsight information. Everyone is a genius after the fact but never before.
Very true
Almost opened a copia agency in our home town only to hear they were having some headwinds. Stopped. 😮then we have so many young techies coming up with cheaper ways of doing things better than the already established market leaders.
I strongly advocate for a model that builds back, starting with the customer and working toward the product.
do you mind elaborating on this further, use the e commerce as an example
Talk to customers first and know the real problems that needs solutions before actualising.
These startups started high instead of low and picking up momentum with time. Also the target market was not in sync with them
One thing about entrepreneurship is the risk of gaining big investors for a toddler market. Always start small, that way you learn as you grow and you don't have much to lose. Imagine been given 4 billion and losing it! Your credibility gets tarnished in the eyes of the investors and trust,the most important thing gets broken.
iam just enjoying the editing props to the editor
The video editing is more exciting than what i actually came here for😅
We are glad we smashed your expectations 😅
I'll be following closely now😊
Very well done video! you will hit 100k subs in no time!!
Akiii, that's a big goal, but let's see! We are definitely putting in the work to get there.
Great Content, Liked the new host plus the new format.
It's easier to criticize than to build.
It's easier to comment than create.
@startupsoko yes😂
The real business is in scamming foreign investors. Even a class 8 dropout in Kenya can tell many of those startups had unachievable and foolish ambitions.
Good education system.
I agree 100%. When you see black pple venture in things they usually hve little to no interest in (like environment, animal rights, green energy, global warming, saving children, carbon credit, climate change), just know MZUNGU is about to lose BIG MONEY in scam business.
😂😂
@@cyclone886 This really made me laugh especially on animal rights, us Africans if left unchecked would butcher all our Safari animals and sell at the butchery as local delicacy😅
😂 facts don’t care about feelings.
This is Great, amazing masterpiece
The only way to a successful startup is to organically build it from scratch
And fund it with your own money 💴
So underrated! Farmerline is a shining star of this model.
Africa has a huge upside to everything.
Fair point, At some stage, even the leanest startup can hit a ceiling where personal funds and organic growth aren’t enough to fuel the next phase. Overambition without structure can sink a startup-but with the right funding and execution, it can also help you swim far beyond the basics.
Thanks
Asante sana!
11:32 meme finished me off. Bringing ecommerce to rural Kenya, what could go wrong?!. When you actually think about it, most of these companies sound like schemes to rip off investors, I do believe Tash and co had good intentions though.
It too hard to grow a start up in Kenyan market or Africa at large but we hope things will improve, if you start up doesn't turn profit immediately you wont succeed trust me.
The answer is simple, they all have business models that are not solving any problem nor addressing any pressing need. So basically, there's no value these companies are creating/providing
Wish people saw this before starting any bussiness
Very true...
Let me see if I'm following this.
Some MBA wielding wizkid comes up with this 'innovative' idea,pitches it to investors hoping it will be the next 'big thing in tech', even before the concept has been proven profitable. They pump in their dollars and hope it works as advertised.
Some people clearly have more money than good judgement.
Loads of money and poor judgement is a great summary of some of these investors.
RUclips just suggested this video to me. Nice editing, nice analysis
Welcome aboard!
This is great content. Great lessons for early entrepreneurs.
Glad you enjoyed it! Hope it helps some of the future generation of entrepreneurs avoid these pitfalls.
Great research and insights!
Glad you enjoyed it!
The video has been educative, good work. I wish add tech stories
Gro Intelligence, should be as valid as possible right now, leveraging the current AI technologies to easen their workflows. Someone slept at their job!
Fantastic video, my take being the need to have more keenness on reality than aspiration despite both being important in business.
aka stop with the delulu 😅
@@startupsoko precisely 😂
Once I hear the words revolutionize, disrupt, democratize,... from a founder, I'm 90% sure the business is going to fail
😂
Yeah,,, the video editing is top notch💯 😂
Manze unabambaa... For lack of better words... You really have a kabrain combined with dope sense of humour
😂😂😂😂
Thanks. Informative and Great Content to learn from.
Super thanks❤
I love your Inro, it's amazing.
Thank you
They should try make a movie
Too much resources going to people with no knowledge of the market they want to enter. Something fishy about all these start ups.
The problem with the Kenyan market is the govt has it's hands in everything..either through unfavorable policies or as a competitor.
The thing with Kenyan start ups is that they are fixing problems that are usually fixed by governments in other countries. For example - education, good security, agriculture, healthcare. One reform change and this will mess up a start ups model.
The foreign inventors are the real beneficiaries they come up with ideas get funding from big investors and after it fails which they expect they close the company and leave. The cycle continues
I started a e commerce startup called kemcary in 2020, my main focus was university students. it was hard to start the engine but at least i learned a lot for the 2 years i worked on the startup, long live kemcary in the graveyard
Hugs 🫂
Inspiring content to help business minds learn from failure to success.
Indeed, lessons learned can make the difference.
Great insights
Thank you
Yo, you are killing it.
Nah she looks too happy when presenting on this maybe a touch of empathy would be nice
Copia cracked rural deliveries but were constantly changing schedules. This week was morning deliveries, the next they change to the evening
60% of startups worldwide fail in the first 6 months, over 90% never make it to maturity. Less than 10% grow to maturity.
Now let’s do American Startups failure in the billions of dollars.
Wow. Great content. Subscribed!
I knew Copia wouldn't survive from the word go. Rural markets and merchants work with people they know and have build rapport over time. They also like buying things on credit which many fail to pay unless "threatened" or taken to court.
But kudos to all these startups.They tried.We have also learnt alot because they once existed.
@@smutinda254we have learnt nothing...
One of the major failure is because those inventors are not from kenya, they are just driven by the funding which when they get, they move out of the country.
Facts...
It's unfair to watch the video and fail to like ..the quality of work here is superb 🎉
Thank you so much 😀
The only startup I know from the list is Copia. I thought they were a company. All I heard about them from my hood of Umoja is how efficient and cost-effective effective their services were to really small scale businesses. Sad to hear their model failed. I have enjoyed the presentatikn and education.
The reporter and the editor should have their salaries increased. Hi reporter, you have a beautiful voice, do you have a sister who is single?
The takeaway: Have a superduper good, unique business idea. Have a fool proof business plan. Write a very enticing proposal, you'll get funding.
Great contentkeep up the good work
Nice job. I love how the likes are at 4:20..you feel me. Anywayz I like the content and the channel's name is very catchie.. #KenyaToTheWorld
The missing link in all these entities is a strong local context from a local lens. Cut and paste of silicon valley growth models just won't cut it.
Local enterprises should be built with sustainability and profitability as fundamental metrics to aspire to. Founders should resist the urge to take funding for the sake of scale that might be impossible to achieve without corresponding sustainability and profitability.
Local capital, where are you? Your absence in this entire conversation is deafening.
Build in public see what your ideal client is willing to pay... At the end of the day market forces win. If your the majority of your ideal clients don't wanna pay for it severally, then it's a hint that your solution might be solving non-essential problems that have a lower cost of work-arounds. Adapt or Die.
Mkopa, Watu credit 4G CAPITAL are good examples of startups that are doing very well..
watu are always laying off staff to cut costs
Are these start ups operating in Kenya or Kenyan owned start ups?
Those are not startups. Those are loan sharks.
Non is profitable.Time tells
Not really.
Most of these investors have themselves to blame. They splash money on Start ups that hire party boys and slay queens to steer brands that need more focused and ambitious people in leading positions. Some of them are basically get rich schemes by the founders with access to some top fund managers who are greedy and will ignore any sound advice from professionals just because they have a finders fee on the financing agreements.
Product based businesses will likely be easier here than the serviced based ones.
Yap, manufacturing...
If you've never worked for a startup, thank your lucky stars because the drama and pressure is not for the weak, and true, more money, more problems
Props to your editor 🎉
We'll researched piece. Kudos
Well-produced and informative content, I liked it! mz
Thanks! Glad you enjoyed it!
more like founders scamming investors and making off with the loot when the startup ultimately goes bust
😂😂😂love your editing 💖
Mind Blowing... This is very insightful and somewhat scary😅