A Cape Town startup education platform has received additional funding from a US investment fund to help it in its goal of providing early-stage entrepreneurs with practical business skills.
Startup Circles, an online business school specialising in mentoring startup founders, has received funding from US based Enygma Ventures, an investment fund that focuses on early-stage startups in Southern Africa.
More information is available at https://www.startupcircles.ai
With its US$120,000 infusion, Enygma Ventures stated that it aims to invest in the “development of the African startup ecosystem” by way of supporting Startup Circles help local founders build “impactful, profitable” businesses.
The business platform also received praise for its efforts to democratise access to potential funding, with programmes that allow participants to pitch to investors who are seeking new business opportunities.
According to the fund managers, the accessibility offered by the platform coupled with the region’s growing startup scene is helping local entrepreneurs “think and make it big”.
Startup Circles is a practical business school that provides over 5,000 entrepreneurs globally with practical skills that can help them raise funding, launch, and grow their businesses. Although based in Africa, the school also has entrepreneurs from Europe and North America.
Its “done-with-you” Startup Launch programme allows participants to work with experienced entrepreneurs and investors as they learn the necessary steps needed to bring their concepts into the market.
The programme is positioned to be an alternative to the traditional long process of launching a business, which requires extensive ideation, validation, financial management, and more.
“They were asked to create and update long business plans that nobody reads, with imaginary Excel projections,” the company explained on its website.
Startup Launch does the opposite by offering participants direct guidance from a diverse group of mentors who have succeeded in building large companies.
Participants are given the opportunity to create a pitch deck that is presented to actual investors. After every pitch, these investors offer feedback that specifies the areas that worked and those that need improvement.
According to Startup Circles, this benefit can save entrepreneurs years of frustration from focusing valuable resources on the wrong areas. Previous participants who have shown enough progress have received investment on pitch days.
Founder and CEO Sandras Phiri is an experienced entrepreneur and innovator who has founded multiple companies in IT, entertainment, and business education. He joins other resident instructors, who are also founders and C-level executives in their respective organisations, in mentoring participants.
Additional details about the school’s programmes can be found at https://www.startupcircles.ai/startup-launch or at the URL above.