Wimbart’s Post

A new report from Flourish Ventures provides a rare glimpse into the wellbeing of African tech founders. The study titled Passion and Perseverance: Voices from the African Founder Journey, surveyed 160 entrepreneurs across 13 African nations. Per the study, while 81% of founders enjoy the challenges of their work, 86% experience significant stress. The findings highlight critical issues around founder wellbeing, with 60% reporting anxiety, 58% high stress, and over half experiencing burnout and exhaustion. Many founders are hesitant to share these struggles openly. Only 14% are fully transparent about their stress, and 78% report feeling isolated. Despite these challenges, founders rely on personal relationships, exercise, and healthy routines to cope, though support from investors remains limited. Only 17% of founders feel comfortable discussing wellbeing with their investors, and just 11% believe their investors genuinely care about their personal health. The report highlights the need for a more supportive ecosystem where investors prioritize founder wellbeing, creating a sustainable environment for innovation and resilience. https://lnkd.in/da-mkKVw #africa #fintech #innovation

A recent report from Flourish Ventures reveals that while African founders are deeply passionate about their entrepreneurial endeavors, many are experiencing significant mental health challenges due to factors beyond their control, such as fundraising difficulties and Africa’s volatile macroeconomic conditions. The survey, which gathered responses from over 160 founders across 13 African countries, highlights that more than 80% of respondents are grappling with mental health issues. Specifically, 60% report experiencing anxiety, 58% high stress, 52% exhaustion, and 20% depression. Notably, even founders of startups considered “thriving” are not exempt, with over 70% reporting mental health struggles. “Prioritizing founder wellbeing not only positively impacts their lives but also the long-term success of their businesses,” stated Ameya Upadhyay, a venture partner at Flourish Ventures. “By sharing these insights, we hope to foster a broader conversation on supporting founders both in Africa and globally.” Despite these challenges, 81% of African founders remain passionate about their entrepreneurial paths. However, they identified several key stressors affecting their mental health, with fundraising (59%), inflation (44%), and navigating economic instability (40%) being the most prominent. Nearly half of the surveyed founders have called on investors to curb unrealistic demands and recognize them as individuals rather than merely contributors to financial returns. “The external stressors—factors largely outside our control—are major contributors to stress and burnout for most entrepreneurs. As an investor, I try to help my founders focus on what they can control and let go of what they cannot,” said Iyin Aboyeji, founding partner at Future Africa. To cope with these pressures, many founders turn to exercise (59%), relationships (49%), sleep (45%), and healthy eating (42%). 📌 The report found that founders with strong personal support networks experienced 13% higher well-being compared to those with weaker networks. 📌 However, despite the benefits of open communication, only 14% of founders feel comfortable discussing their mental health struggles. This reluctance is primarily driven by fears of judgment and a lack of empathy from investors. “Founder stress and burnout are pervasive, yet founders are remarkably resilient,” said Efayomi Carr. He emphasized the importance of reshaping investor-founder relationships, advocating for greater transparency, realistic expectations, and a human-centered approach. 📌 Carr added that focusing on founder wellbeing is not just ethical but also essential to business success, as a founder’s mental resilience directly impacts their company’s growth and sustainability. Thank you TechCabal for the analysis!

News via Tech in Africa: Report Reveals #MentalHealth Struggles Among African Founders Despite Passion for Work: https://bit.ly/3CC9M7x Flourish Ventures #WellBeing #healthcare #Africa #entrepreneurs #AfricaFounders #startups #GEW2024 #GlobalEntrepreneurshipWeek

News via Tech in Africa: Report Reveals #MentalHealth Struggles Among African Founders Despite Passion for Work: https://bit.ly/3CC9M7x Flourish Ventures #WellBeing #healthcare #Africa #entrepreneurs #AfricaFounders #startups #GEW2024 #GlobalEntrepreneurshipWeek

The entrepreneurial landscape witnessed an unprecedented surge in 2020, spurred by shifting priorities and evolving consumer behavior amidst the pandemic. During this period, the Latinx immigrant community demonstrated remarkable resilience and innovation. Currently, Latinx business owners are outpacing the U.S. population's startup rate by more than double. This surge has contributed to a significant increase in the overall share of new businesses owned by immigrants, per the latest Census Bureau data. Despite facing hurdles such as limited access to capital, Latinx owned businesses have thrived, not just as small-scale ventures but also as venture-backed startups. These startups, primarily in financial services, healthcare, commerce, and shopping, are carving out their space in the entrepreneurial ecosystem, though they receive less than 5% of venture funding, per Crunchbase. As we celebrate this entrepreneurial spirit, we also recognize the need for inclusive support systems to ensure that all aspiring entrepreneurs, regardless of background, have equal opportunities to thrive. The Artemis Fund has invested in 20+ companies, of which 100% are led by female founders and 60%+ have Black, Latinx, or immigrant leadership. If you’re innovating in fintech, commerce, or care, we would love to meet you. Reach out to us here: https://lnkd.in/e6SZ-jxH Read the full coverage of this story from Wall Street Journal here: https://lnkd.in/dr5WPm_e #entrepreneurship #latinxleaders

Well, the role of age is really important. As we celebrate the amazing achievements of innovation and hard work across the continent, it's vital to look at how age contributes to the success of startups. The Global Startup Scene Before we talk about Africa, let's first look at some global insights: 1. Success Rates: - Across the world, about 90% of startups face challenges and ultimately shut down¹. - First-time founders have a success rate of 18%, while those who have faced entrepreneurial setbacks before have a success rate of 20%. 2. Founder Ages: - Studies show that the average age of founders of businesses worldwide is around 42 years. - Interestingly, the top 0.1% of fast-growing startups are led by founders with an average age of 45 years. This tells us that wisdom and experience are really valuable qualities! #African Startup Scene Now, let's focus on Africa, where innovation is flourishing despite unique challenges: 1. #Startup Hubs: - South Africa, Nigeria, and Kenya have become vibrant startup hubs, with a lively community of entrepreneurs, incubators, and co-working spaces⁵. 2. #Age Diversity: - In contrast to the idea of young tech geniuses, African startup founders come from a wide age range. - It's surprising, but entrepreneurs in their mid-40s seem to be especially successful, challenging the traditional idea that startups are only for young people³. Why Age Matters 1. #Experience is Key: - Seasoned founders bring so much industry knowledge, wide networks, and resilience to the table. - Their hard-earned wisdom is really important for navigating the challenges of the business world. 2. Attitude Towards #Risk: - Experienced entrepreneurs often take a more balanced approach to risk. - They understand that setbacks are part of the journey, which gives them the strength to keep going in tough times. 3. #Networks and Trust: - Strong relationships are crucial for business success. - Older founders use their wide networks to build trust with investors, partners, and customers. #LocalSolutions 1. Relevance to Local Needs: - African startups succeed by addressing local problems. - Founders who really understand their communities are able to create solutions that make a real impact. 2. #Resilience and #Adaptability: - African entrepreneurs face unique challenges, from infrastructure issues to complex regulations. - Age doesn't hold them back; in fact, it helps them adapt even better. Let's not this; age isn't a barrier—it's a beautiful part of the picture. Whether young or experienced, founders all contribute to the vibrant world of innovation. It's essential to celebrate their determination, learn from their experiences, and keep building an inclusive community that supports people of all ages. Let's remember that every startup founder—no matter their age—plays a part in Africa's journey forward.

This isnt a shot at 9-5ers.......but more so to remind everyone that Founder Burnout remains a huge issue..... In Balderton Capital's Founder Wellbeing report they found that of the entrepreneurs surveyed "70% agree that burnout due to stress remains a significant problem" (link to report in comments) When looking at business strategy there is very rarely (almost never) any consideration of the strategy required to protect and enhance one of the companies most valuable assets....its founders. Credit therefore to some of the ideas considered in the report and for shining the spotlight on the issue. At Colab-8 the health and well being of our founders remains paramount to our mission. Everyone in the startup ecosystem bears the responsibility to make sure that at the end of day....'everyone is okay.' PS - I know this issue isn't unique to the startup space so please dont think im ignorant of other pressures/roles etc Just take a moment to think whether anyone in your network may be in that 70%....perhaps give them a message.

As VC funding stalls, angel investment becomes more important to growth start ups. It’s especially important for impact and purpose driven start ups and those who don’t 'fit the mold'. … and yet, as VC funding stalls the government also puts a handbrake on Angel investment. It’s baffling. Sign the letter - link in Roei's post - if you agree and would like to do something about it.

I was down with the flu again. It’s strange how one minute you’re fine and the next, you're down with a fever, hoping to recover soon. I'm feeling better now and, although I've missed a week of activities, especially the LinkedIn Challenge with Gentle Ezenwa, I'm confident I'll catch up in no time. I'm eager for further stakeholder engagements on this platform. If you're an investor looking to invest in startups in Africa, I have excellent deal flow opportunities for you. If you're a woman founder seeking a supportive community, look no further—join our Hub today. Follow me on all social media platforms: http://shefoundry.carrd.co SheFoundry Hub: https://lnkd.in/dfmZ-b-T SheFoundry LinkTree: https://lnkd.in/deVDKeb4 Wishing you all a productive week ahead. #womenfounders #womeninfinance #investment #startup #innovation #GentleEzenwa30DayChallenge #ObimDevelopmentinitiative

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