Lagos Bound!

Tony Elumelu, one of Africa’s most successful entrepreneurs, is giving a $100 million boost to entrepreneurship across the continent. The fund’s first cohort of 1000 entrepreneurs, selected from approximately 20,000 applications, was announced on Monday, 23 March (Forbes).

LelapaFund is thrilled to have been selected alongside such a diverse group of change-makers. As a start-up aiming to spur financial inclusion of SMEs in Africa through crowdinvestment, we share the values of the TEEP program: pan-Africanism and job creation through entrepreneurship. Lagos – here we come!

For the full list of Tony Elumelu recipients see: TEEP 1000 Recipients PDF

 

Special invitation to Kenyan TEEP entrepreneurs:

We can’t wait to get to know our fellow Kenyan TEEPers, so we’ve opened a second Nairobi Entrepreneur Meet-up on April 15th to welcome you all. Our monthly meet-ups are fun, informal info sessions on equity crowdfunding held exclusively for entrepreneurs: ask all your questions, grab some pizza and mingle with fellow hustlers. Over 60 entrepreneurs have already signed up for April – see you there too?

The Burrito Bond

The early stages of a startup often feel like a bit of an emotional roller-coaster. One day you’re full of confidence, the next you’re wondering if you’re crazy….

That’s why it was such an uplifting experience to sit down at the popular burrito joint Chilango yesterday in the Angel neighborhood in London and see this:

burrito

Alongside our order of two delicious pork belly burritos, we could check out Chilango’s crowdinvesting campaign on Crowdcube, one of the UK’s leading crowdinvesting platforms.

Think about it: for the first time, Chilango fans can invest in the company whose product they are holding in their hands while sitting in the actual store! It is, quite literally, hands-on investing.

For me this is the purest form of investment: you get interested first and foremost because you know the product is great. What comes after is a careful analysis of the company’s growth plans and how the investment fits your own risk/return profile.

Chilango has created a great video for this campaign too, in addition to getting their whole staff to wear catchy “Burrito Bond” t-shirts. It became clear that this crowdinvesting campaign was about team building and brilliant marketing in addition to capital raising – three wins for Chilango!

I look forward to having more of these experiences in other parts of the world as crowdinvesting awareness grows. And of course, I simply cannot wait for LelapaFund’s first company to campaign for funds – what a tremendously exciting prospect!

– Libby