In a world where entrepreneurs usually struggle to access financing, Adam Molai has come to the rescue. Let me talk a bit about who Adam Molai is. He is regarded as a Pan-African entrepreneur who strongly believes in the proliferation of African-based businesses. He is an alumnus of the University of Buckingham in the United Kingdom. He is the holder of a 1st class Honours Degree in Commerce from Lakehead University in Canada. He is the founder of TRT Investments and has business interests in Africa, USA, and Europe. TRT Investments is an investments holding company. He is a Zimbabwean by birth and started his business journey from the tender age of 10 when he would sell matches. He was born on September 15, 1971, in Harare.
The JUA Kickstarter Fund
Adam Molai has unveiled what is called the JUA Kickstarter Fund. Successful applicants will receive funds within 3 months of submitting their applications. The entire process will be electronic and online i.e. paperless. Successful applicants will also receive mentoring and advice from industry experts to help them scale their businesses. The money Adam Molai has set aside for this fund is US$1 million.
Some Notable Remarks By Adam Molai
Under this quest to finance African businesses he had the following to say:
“Without entrepreneurs, economies cannot grow and countries cannot advance. But African Entrepreneurs unfortunately do not get the support they need to thrive for a myriad of reasons. Yet Africa is full of enterprising people. When people see Africans investing in our environment, they feel more confident to invest alongside us. Confidence breeds confidence. And I am nothing if not confident in the future of Africa and in what we can collectively achieve. Africa is rife with adversity, wherever you turn business prospects are in abundance. Entrepreneurs proffer solutions to societal problems, whilst creating space for community advancements. I feel that Africa is more open with a lot of opportunities than you would find elsewhere. I want to do everything in my power to ensure that this potential is cultivated and unleashed.”
An Overview Of The Initiative
The initiative will entail two stages namely, submission of applications and the Venture Capital Olympics. Applicant submissions will be expected to provide the following: the nature of your business, the sector you operate in, the needs it fulfils, the credentials of each member, number of years it has been active, history, and highlights. All qualifying applicants will be assessed by a panel of judges. Successful applicants will proceed to the Venture Capital Olympics.
The Venture Capital Olympics
Over five days, finalists will participate in question-and-answer sessions with a panel of judges. Those who emerge successfully will proceed to the next round. Each day will have a different theme as follows:
Concept Pitch Or Defense
This entails one making a pitch of their concept. They will also be required to defend their pitch whilst also answering questions that may be asked of them.
Market, Competition, Growth And Opportunity
This day involves 4 key aspects. Firstly, you will detail the problem and the proposed solution. You then move ahead to detail on the competitive landscape. Thirdly you will have to detail on your expected outlook. Finally, you will do a SWOT analysis, porters, and detail on the 4 Ps.
Financials And Risks
You will detail your financial projections here. You will also detail your current financial position. You will also detail on your risks and you will be expected to respond to basic due diligence questions.
Two main things will be explored here. You will be required to pitch your team and then you will be taken through a rapid team interview – for the whole team.
Deal Pitch Or Negotiation
Here you will pitch your proposal or deal. You will essentially be negotiating the deal intending to actually close the deal.
If you are interested in participating in this you can click here. That will link will take you to their website where you will get all the details you might need regarding this capital opportunity. Take advantage of this opportunity – it just might be what you have been looking for.