Innovate Durban Keynote Presentation - Philip Kiracofe - 7 July 2016
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Transcript of Innovate Durban Keynote Presentation - Philip Kiracofe - 7 July 2016
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Philip Kiracofe
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Africa - Cradle of Innovation
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Necessity = Mother of Innovation
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Perspective
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The Ultimate Human Race
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Global Population GrowthPo
pula
tion
(Bill
ions
)
By Continent
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Global Population Growth
Africa 85%
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Concept Stage (Ideation – Exploration) develop idea, pre-revenue
R0 - 1MM valuation
Seed Stage (Exploration – Creation)market validation, early revenue
R1MM – 10MM valuation
Series A (Acceleration)rapid growth, solid revenue
R10MM – 100MM
Series B, Csignificant market share, profitability
R100MM +Investor ExitTrad
e Saleor
IPO
FAILURE
STARTUP VENTURE FINANCING LIFECYCLE
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MATURE SELF-SUSTAINING ECOSYSTEM
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CURRENT SOUTH AFRICAN ECOSYSTEM
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Lean Startup Process
Ideation ExplorationDiscovery Creation Acceleration
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TIME VALIDATION
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Innovation Programs
Ideation ExplorationDiscovery Creation Acceleration
Allan Gray Orbis IVC
Lean IteratorRise Labs
Corporate SME Programs
Tech Lab AfricaStartupbootcamp
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OPPORTUNITY
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