Local Start Ups get a Boost

Thought I would share some exciting news with VijanaFM readers. According to a recent article in The Guardian, I/O Ventures, an angel investment fund and business incubator based in San Francisco is working with the government to setup a local incubator in Dar es Salaam.

For those unfamiliar with the concept of an incubator. These are basically programs led by venture capital (VC) firms to develop early stage companies with seed capital, mentoring, coaching as well as assistance with resources such as office space and technology infrastructure. In return firms usually get a small stake in your company. In the case of I/O ventures, this comes with access to an exclusive network of mentors including founders of Silicon Valley giants such as Youtube and MySpace.

What does this development tell us? Investors and technologists are constantly seeking new markets and fresh talent. Tanzania with its stable environment, burgeoning economy and army of fresh talented graduates is a prime feeding ground. Tanzanians need to wake up and realize that foreigners have already realized the potential of our country even if we are still dozing. So if you have a great idea, are passionate about it and have some form of a business plan, wake up and get started.

If you have an idea, don't know how to get started or are stuck on a problem reach out to myself I will gladly help or point you in the right direction.

Cross listed here.

A Giant Fails

This week Google (yes Google) announced that it will be shutting down its much hyped 'Google Wave' service. For the non technology buffs Google Wave was an advanced real time collaboration and communication tool that would change the way we work and interact. The idea was that you could create 'waves' that would be equivalent to real face to face conversations except virtually. You would be able add people into the conversation in real time and determine what they can and cannot see. The same can be done with adding files, pictures and other media into the wave (conversation). Even more impressive was that you could quite easily pick up an entire wave (conversations, media, etc) and send it all to others to review.

When I first saw a preview for this new tool, the technology was mind blowing (this is the geek talking) and I spent quite some time playing around with it. The problem, was that no one else I knew was doing so. Which meant that I quickly stopped using the service. This is what eventually led to its demise. The critical mass of users needed to sustain the service just did not exist.

What can we take away from this series of events. Firstly we must realize that even the most advanced and innovative products are useless without users to use it. Products/services must constantly be evaluated to understand how consumers are using it and how it can be improved. Secondly, timing the launch of a product is crucial. In the case of Google, the technology they introduced was too advanced at this point in time for the average lay person. Lastly, we must learn that everyone fails at times, even the best and biggest. Its how you react to the failure that counts. Google didn't hide the failure, they acknowledged it and shutdown the service. Many of us will not realize that what we are doing is wrong and continue making the same mistakes.

Have you suffered from a failure in the past? What went wrong? How did you react to it? Share your stories below.

Cross listed here.