If you read tech publications before 2022, you’d be forgiven for thinking that venture capital was the only funding source available to technology companies. But that’s not the case.
Some of the most prominent investors globally typically invest in less than 4% of the startups that pitch to them. If you doubt me, check out this statement attributed to Marc Andreessen of a16z fame.
“We can do maybe 15 or 20 investments out of the 3,000 a year. So I like to say our day job is crushing entrepreneurs’ hopes and dreams. Our main skill is saying no, and getting people to not hate us.”
I think you get the point now. Fortunately, there are other funding options available to technology entrepreneurs. One of those is bootstrapping. Next month, we’ll be hosting Uche Ukonu, the founder of Smallchopsng. A little background story.
After leaving Covenant University, he started Smallchopsng because he wanted to eat small chops. But without venture capital, he has grown the business to over ₦100 million in revenue. You can read all about him here.
He’ll be sharing lessons from that experience as well as the strategies he employed, so keep a date with us.
Date: September 8, 2023.
Time: 3pm.
Venue: Zone Tech Park, Gbagada Expressway.
Register to attend or pitch your startup here.
