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.