Great minds come together: Deep Dive Investor Tour to Ghana and Nigeria

Copyright: GIZ/Mumuni

Investors have been hearing good things about Ghana and Nigeria for some time now. It’s no wonder: the region has seen a remarkable rise in entrepreneurs creating innovations to tackle big challenges. So it was high time to bring investors and innovators together with targeted matchmaking, networking, and partnership building. The result: Deep Dive Africa organised a seven-day Deep Dive Tour of the region.

Deep Dive Africa was the brainchild of Make-IT in Africa and Impact Hub Accra. Conscious of the role of entrepreneurship in the growth of Ghana and Nigeria, they saw a need to create local networks to help manage first-time investors in Africa and cultivate long-term commitments. International investors needed guidance in taking those first steps into the region, and start-ups required help in pitching and preparing their portfolios.

From Accra to Lagos: The Deep Dive Tour took place in December 2019

Of the 250 applicants from Ghana and Nigeria, 25 start-ups were chosen to participate in the event. Before the tour began, they were coached in a two-day workshop about how to talk to investors and handle the due diligence process in a seamless way. One participant, Amos Narh of Health Direct, said, “It was the most helpful training I have received as an entrepreneur.”

Six international and three local investors joined the Deep Dive Tour. They travelled to three cities: Accra, Kumasi, and Lagos. Investors listened to pitch sessions from innovators and conducted many one-on-one meetings to learn more about the products, innovations, and investment stages of the selected start-ups. During the seven-day tour, the investors also joined networking events with other local investors, who play a crucial role in bringing larger funds from outside Ghana and Nigeria to the region. Finally, they visited tech hubs to get a feeling for the local innovation scene.

Eat, Sleep, Tour, Repeat

With this tour, Deep Dive Africa has launched a unique approach to bring investment and innovation together in the region. With resoundingly positive feedback, the first tour has already brought results. Yona Yama, from the Japanese venture capital fund Samurai Incubator, declared on her second day in Ghana that she would invest in two or three of the start-ups.

Now is the time to build on these first success stories. Round two is planned for 2020. Along with a new website in the works, Deep Dive Africa and its tours will play an exciting and important role as a beacon in the area. And as increased investments help the local tech industry expand, economic growth and employment in the region is sure to be stimulated.

Links:

www.make-it-initiative.org

www.deepdive.africa

 

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