- 04:44 - African e-commerce trends vs Rest of the world.
- 09:18 - What is a startup?
- 11:26 - Finding and hiring the right people.
- 15:17 - Technology skills shortage.
- 19:16 - Raising funding for your startup.
- 42:32 - Importance of good relationships in business.
- 50:00 - Why tech startups incorporate in Delaware.
According to Baobab Insights, as of 17th December 2020, the total investment into African startups in 2020 was $1,213 billion. This is some way behind the total recorded in 2019 ($1,987 billion) and slightly behind the 2018 total ($1,328 billion).
The total number of unique companies that received investment has only slightly decreased from 429 in 2019 to 426 in 2020. So, perhaps the narrative that African technology startups copy and paste Silicon Valley business models might not be entirely true. We have seen companies like Yoco growing exponentially and Nigeria's Paystack being acquired by Stripe.
So how can a startup founder ensure they secure VC investment?
In this episode of The Tefo Mohapi Show, Craig McLeod, CEO of BoxCommerce shares with us what it takes to build a tech startup that scales. Craig also shares insights on venture capital, the importance of having the right team, and more.
Biography: Craig McLeod
Craig is the founder and CEO of BoxCommerce, a venture backed e-commerce startup that has built a platform that helps businesses and individuals set up their online stores which is based in Johannesburg, South Africa and Delaware in the USA.
Added to this, Craig was also once a VC in South Africa and more importantly, he has 2 decades of experience in the digital technology industry across Africa and South-East Asia.
Craig sits on the boards of a number of startups, as well as serving as mentor to a number of hubs, VC funds and incubators. Previous highlights include having worked for Mark Shuttleworth, built an online bank, security consulting to governments, and UX design as one of the world’s top selling template authors.
Craig McLeod podcast notes
LinkedIn: Craig McLeod
Twitter: Craig McLeod
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