05/07/2022
In recent weeks, African startups received a total of about $81m in funding even with the ongoing a global meltdown in the investment space.
We understand how every founder intends to raise funds but just before you start pitching you need to be ready. Here’s how to know if you are ready to start meeting pre seed investors ⬇️
Product/Market Fit 💹
You have already confirmed that your product fits into a chosen market. Founders will have already done their research but likely have yet to test it with a finished product.
Building a Team 👫
Need to make some hires to bring in the right expertise? This is a sign that pre-seed investment is a necessity.
Prototype 🔨
Few investors will take an idea alone seriously. At a minimum, you should have a prototype displaying a product’s primary features. Pre-seed startups are not required to have a fully developed product.
Early Interest 📈
Have you started showing your product to customers? Early positive feedback is a good sign that a startup has high growth potential.
Revenue Modeling 💰
Entrepreneurs should focus on building a revenue model that is ambitious yet realistic. Investors want to know how you are going to make them a profit.
