| These companies represent the best investment opportunities on the continent |
AMSTERDAM, Netherlands, September 30, 2019/ -- VC4A (https://VC4A.com/)
is proud to announce the 12 ventures (11 Series A and 1 Seed+) for its
2019 Venture Showcase. These companies represent the best investment
opportunities on the continent. They have been vetted by 40 VC investors
through a rigorous referral and selection process. The companies
demonstrate strong revenues and competitive edge, are well-positioned
for regional and internal expansion, and are working on important
innovations in the healthcare, finance, transport, commerce and
advertising sectors.
The founders will showcase their businesses in front of the investors at Africa Early Stage Investor Summit in Cape Town on 13-14 November 2019, with the aim of raising $250k-$5mln in Series A capital. All companies provide technology-intensive or innovation-based products or services that are currently available in one or more African markets. Introducing the 2019 VC4A Venture Showcase companies Without further delay, the 12 companies are: 7keema (Egypt), Brimore (Egypt), Buseet (Egypt), CredPal (Nigeria), CrowdForce (Nigeria), FinChatBot (South Africa), FlexClub (South Africa), LifeBank (Nigeria), Mobiz (South Africa), Snapnsave (South Africa), Yassir (Algeria), and VRapeutics (Egypt) for the Seed+ category. 7keema (http://bit.ly/2nU0uxh) is a technology-enabled healthcare services platform that enhances the accessibility and quality of nursing services while empowering female nurses everywhere. Brimore (http://bit.ly/2nX706E) is a social commerce platform that enables manufacturers to grow on a national scale through a powerful commercial arm of individuals, selling the products to their surrounding circles via all possible channels. Buseet (http://bit.ly/2mVmA2t) operates private high-end buses in transporting daily commuters. allowing businesses and employees to book trips on predefined routes through their apps. CredPal (http://bit.ly/2mgzfwm) is a financial technology company that enables consumers to make purchases across online/offline merchants and pay in fixed monthly installments by providing them with instant access to credit at the point-of-sale and also on credit cards. CrowdForce (http://bit.ly/2oFCDSt) is building an ecosystem of 1 million merchants that will render penetrative market research and financial inclusion services to the billions of consumers in Africa and other emerging markets. FinChatBot (http://bit.ly/2mYmVl1) develops bespoke Artificial Intelligence-powered chatbots to help financial service providers acquire and retain customers while reducing operating costs. FlexClub (http://bit.ly/2n7bes7) is a managed marketplace helping independent drivers on digital platforms access vehicle ownership based on their skills while simplifying how purpose-driven investors can earn competitive returns from funding commercial fleets. LifeBank (http://bit.ly/2mXJA0R) is a medical distribution company focused on transporting supply chain-sensitive medical products such as blood, vaccines, and oxygen in developing countries using high and low technologies as well as smart logistics. Mobiz (http://bit.ly/2n9wsp9) is a powerful yet easy-to-use software-as-a-service (SaaS) platform that offers businesses of all sizes cutting-edge customer engagement. Mobiz’s proprietary SmartSMS product combines the ubiquity of established mobile channels with the personalization of the web to create unique calls to action. Snapnsave (http://bit.ly/2nWD4qW) is South Africa’s #1 cashback coupon app that gives shoppers and independent traders cashback when shopping in-store, just by snapping a photo of their shopping receipts. Yassir (http://bit.ly/2mq4HIQ) is an innovative transportation service that can be used with your smartphone anywhere, anytime. It allows everyone to book a driver and to move safely. And last but not least, our special selection in the ‘Seed+’ investment category is VRapeutic (http://bit.ly/2n6XM7u). It develops virtual reality software for therapy, with a focus on learning disabilities and developmental disorders, such as autism, ADHD, dyslexia, and cerebral palsy. The lead-up to the main stage in Cape Town These 12 selected startups will be linked to top VC investors as mentors in the coming weeks and receive bespoke investor readiness training that culminates in a 1-week residency in Cape Town, South Africa. During the residency, the startups will have the opportunity to interact with and learn from their mentors, peers, and partners, before delivering their pitches on the main stage of the Africa Early Stage Investor Summit (http://bit.ly/2n9xvp7). The program offers two days of networking opportunities at the Summit, where entrepreneurs will also engage with interested investors during deep-dive sessions. Moreover, the participants will pitch to a wider audience of corporates, investors and tech professionals at VC4A’s partner event, AfricaCom. Investor participation has been outstanding this year, with 40 major VCs and multiple angel groups involved in the intensive vetting process. We believe initiatives like this help to build trust and foster collaboration between industry stakeholders, and importantly, create both co-investment opportunities and exit opportunities for our partners. Interested in attending the 2019 VC4A Venture Showcase and meeting the entrepreneurs behind these 12 companies? Consider joining us in Cape Town in November! Book your front row seat at http://bit.ly/2n9xvp7 or get in touch with us by email at: team[at]africainvestorsummit.
Distributed by APO Group on behalf of Venture Capital for Africa (VC4A).
About Venture Capital for Africa (VC4A):
VC4A (https://VC4A.com/) is an ecosystem builder that leverages its infrastructure, network and expertise for the programs that contribute to Africa’s startup movement. Since 2008, the organization designs, structures and implements successful entrepreneurship programs on the continent. VC4A runs an online platform, VC4A.com, featuring the world’s largest database of African startups and connecting local entrepreneurs to learning resources, mentors, investors and partner programs. Visit https://VC4A.com/ for more information. Venture Capital for Africa (VC4A)6 |
Low Budget New Product Development For Importers From Asia [Q&A]
![Low Budget New Product Development For Importers From Asia [Q&A]](https://qualityinspection.org/wp-content/uploads/2019/09/LowBudgetNewProductDevelopmentForImportersFromAsiaQA.jpg "Low Budget New Product Development For Importers From Asia [Q&A]")
I recently spoke with Liz Long of Learn To Make A Product, who I’ve worked with in the past, about low budget new product development for importers who are getting their products manufactured in Asia.
New product development can be tough for importers, especially entrepreneurs, startups, and small businesses who are doing it for the first time, so what advice does Liz have to offer?
Introducing Liz Long
Liz cut her manufacturing teeth by being at the forefront of the reusable shopping bag industry when they first became popular several years ago. She learnt about new product development and manufacturing the hard way, and is therefore well-placed to assist importers who are new to manufacturing because of her personal experience.Putting her experience to work since 2011, Liz has been guiding importers through the development and manufacturing minefield, helping them to launch new products and reduce risk, with a focus on consumer goods like apparel, bags, toys, home decor and more. She gives importers the guidance and support they need to find the right suppliers, test products properly, and plan for safe delivery.
Low budget new product development Q&A
Many importers with new product ideas are working on a low budget, but this doesn’t mean that you can’t (or shouldn’t) conduct new product development.Q: Let’s say I have a day job, but I think of a totally new product and I want to have it manufactured in Asia. What would the first steps be?
A: Your very first job is to get what we call “proof of concept”. Do people actually want your product? Who is the competition and how will you differentiate yourself? Are there any pricing or material requirements you’ll have for manufacturers? Think through these questions fully first before you do anything else. You can conduct surveys, pay for formal focus groups, or use a site like Pickfu to get consumer feedback in minutes.Manufacturing a product requires a lot of time and energy, so you want to be sure your idea is solid, and that your design is well-researched!
Q: Are there product categories where this type of project is more accessible, or more likely to succeed?
A: Sewn goods –
clothing, accessories, home decor – are some of the easiest. The design
and sampling process is pretty inexpensive and straightforward, and
there are a lot of existing sewn products on the market to use for
research and inspiration.
Any items that require molds or a lot of upfront tooling are going to
be expensive! For example, if you are launching an original footwear
line, you’ll need to make molds – that could cost hundreds of dollars
each – for each shoe style and size you’ll offer. And whenever design
costs are higher, that often means minimums are higher too, so your
overall investment is large.
If your development costs are substantial, it’s really important to have a design expert to review your plans before you start sampling. Otherwise, you might pay for molds or tooling that you ultimately can’t use!
Q: What are the most common pitfalls makers (who want to have their own product manufactured) are likely to fall into?
A: People often
think that once they have a final sample from a factory, their work is
done. They assume the factory will replicate that sample perfectly
during batch production (“Because why wouldn’t they?!”) and that all
they have to do now is get the product and start taking orders from
customers!
This is far from true. Firstly, any
weak spots that came up during the sampling process (printing issues,
sizing, incorrect material used etc) will often show up during batch
production, even if the error was supposedly corrected. Further, the
stakes are higher once you give the green light for your manufacturing
run to begin. What if defects arise that can’t be corrected? When this
happens on a sample you just make a new one, but when it comes to
production, you could lose an entire run of product!
It’s crucial to enlist the help of a
quality control agency to support you during the manufacturing process.
They can inspect your materials and goods before, during, and after
production to alert you of problems, and help you negotiate solutions
with the supplier so that your final order is in sellable condition.
Q: People sometimes think manufacturing is something that happens in the background, is done by specialists, and demands little time & attention. Is that the truth?
But that said, the goal should be
about getting a good team in place because once that happens,
manufacturing should get a bit less labor-intensive for the
entrepreneur! If they have suppliers they trust, a great quality control
team on the ground, a logistics company to handle shipping… then it
becomes more about operating the supply chain rather than building, which requires less energy for them personally.
Q: Are there any resources you’d suggest to people thinking of developing and launching a new product?
A: Well, I can’t not say our company Learn To Make A Product! Helping
people bring their product ideas to life without breaking the bank is a
big priority of ours, and there are a lot of great tools that make this
possible. We recommend sites like Design Contest and Creative Market for graphic design, Shopify for e-commerce hosting, SquareUp for product photos, and Shipmonk for low-minimum fulfilment.
Have you got experience in low budget new product development? What tips can you share with our community? Any questions that we haven’t covered here? Please leave them as a comment below.
*****
Thanks for your comments Liz!Have you got experience in low budget new product development? What tips can you share with our community? Any questions that we haven’t covered here? Please leave them as a comment below.
Need help to start production? Try Sofeast’s New Product Launch Roadmap [XLS + Video]
Our free ‘new product launch roadmap’ shows you the steps that your supplier will never tell you are needed, but yet all veteran buyers consider as indispensable.Not only will you get our roadmap as an editable Excel sheet that you can use and adapt for your own project, but we also include approximate timescales and costings for each stage as these can often trip up the unfamiliar. By downloading the sheet you will also be able to watch an exclusive explainer video, where our CEO Renaud Anjoran talks you through the sheet and its sections in detail so that you can get the best out of it.
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