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The Growth Challenge Launch

Kizito Okechukwu

12 November 2019

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The Gen Africa Growth Challenge will be launched on the 14th November 2019 at 22 On Sloane. This Growth Challenge aims to cultivate; resiliency, a thoughtful long-term approach; mirror market challenges; lastly to acknowledge and celebrate positive performance.

For a startup to succeed, various functions such as product development, pricing, technology, operations, customer service, marketing, finance and HR management must be cohesively performed. Execution of each of these elements has a direct impact on their performance and growth.

 

Our approach is to focus on the longevity of a startup together with building its capability to grow quickly. It’s no secret that growth matters for any company regardless of size or business stage. Because growth predicts long-term success, our Incubation and Acceleration programmes are tailored to be critical enablers of growth. We understand that in order to create a successful company, our startups must master the ability to transition from one growth stage to the next.

 

Every month programme participants are given a Financial, Operational, and or Marketing goal which is aligned to their Growth Map. The goal must be accompanied by a strategy and an action plan. Business performance is measured at the beginning as well as at the end of the month/quarter to assess whether the Startups as met the target. In order to win the challenge, the participants must either meet or exceed their goal, as well as outperform (percentage) other participating Startups.

November 1

The Inclusive Growth Forum proposes a Social Compact for South Africa

I had the opportunity to present on Startups, Small Businesses and Job Creation in Africa. I highlighted the need for us to create and grow a pipeline of investable startups in Africa. The scarcity of investable deals, combined with increases in VC allocation, has led to inflated valuations, which has led to portfolio underperformance for investors as startups in Africa fail to live up to their valuations. The result and danger of this could be capital flight or the hoarding of dry powder as the investment community terms it.

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October 31

GEN President, Mr. Jonathan Ortmans Will Launch Global Entrepreneurship Week (GEW) 2024 and Officially Open the 22 On Sloane Cape Town Hub

22 On Sloane, Africa’s largest startup campus and the headquarters of GEN Africa, is thrilled to announce the launch of Global Entrepreneurship Week (GEW) 2024. This global celebration, running from 18-24 November, will feature 40,000 events across 200 countries, with 20,000 partners and 10 million participants. GEW 2024 aims to drive entrepreneurship, innovation, and inclusivity, inspiring both budding and established entrepreneurs worldwide.

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October 24

Pulling Ourselves Towards Ourselves: Reflecting on Our Failures and Limitations

We all have moments that remind us that when we think we are taking flight, we are, in fact, making huge leaps whose inevitable conclusion is landing firmly on the ground, our backsides providing the cushion. My Icarus moment came recently when I found myself in hospital for three days. There’s something about being treated that evokes feelings of helplessness, humility, and loneliness once the nurses, doctors, and loved ones have left. The air feels that much tenser. The bed seems much bigger and far more distant compared to your neighbouring patient’s. And my thoughts (oh, those thoughts) rang louder than a phone you swore you had put on silent in a meeting.

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