African Industrialist Adam Molai established JUA Kickstarter Fund to inspire and boost Africa’s entrepreneurial generation as well as encourage African entrepreneurs to create innovative solutions that can and will transform the entrepreneurial landscape in Africa.
With the JUA Kickstarter fund, entrepreneurs or applicants who get selected on receiving the fund can grow and blossom their startup profiles.
While explaining the motivation behind the JUA Kickstarter Fund to further showcase the capacity of African innovative solutions in a press release, Adam Molai said:
“Without entrepreneurs, economies cannot grow and countries cannot advance. But African entrepreneurs, unfortunately, do not get the support they need to thrive for some reasons yet Africa is full of enterprising people. Wherever there is adversity, there is an opportunity. Africa is rife with adversity, wherever you turn business prospects are in abundance. Entrepreneurs proffer solutions to societal problems, whilst creating space for community advancements. I feel that Africa is more open with a lot of opportunities than you would find elsewhere. I want to do everything in my power to ensure that this potential is cultivated and unleashed.”
About the JUA Kickstarter Fund
SMEs and entrepreneurs have been hit hard and have struggled to secure capital as a consequence of the COVID-19 pandemic.
The traditional method of gaining access to funding from banks requires that entrepreneurs bring collateral, and as the pandemic has now caused a drastic decline in incoming revenue, a lot of entrepreneurs cannot seek loans or funding from banks, thus leaving negative ripple effects of debit on their cards.
Another challenge bugging Molai which he hopes to address through JUA Kickstarter Fund is mentorship for Entrepreneurs.
Molai said that investors tend to lean more towards investing in the entrepreneurship environment of Africa if entrepreneurs show confidence in their capabilities.
He said; “When people see Africans investing in our own environment, they feel more confident to invest alongside us. Confidence breeds confidence. And I am nothing if not confident in the future of Africa and in what we can collectively achieve.”
The fund will not only give successful applicants funds to kickstart or grow their enterprises but it will also offer them guidance and mentorship.
Successful applicants get their funds in 12 weeks’ time upon being shortlisted as the application process is done electronically.
Interested applicants can apply here.