Hello African Catalyst,

Let’s talk sales - the heartbeat of any startup. 

Whether you're selling a product, a service, or even just an idea, getting it into the right hands is key. 

But, let’s be real, sales can be tough, especially in Africa.

Many B2B startups deal with sales cycles that stretch out over 6-12 months and B2C startups can face customer acquisition costs up to 3x higher than their counterparts in more developed markets.

So, how do we tackle this? 

I believe it’s time to shift gears and focus on hands-on, practical learning from those who’ve conquered the sales playbook across the continent. 

In November, we’re running our first Sales Success Fellowship. This 5-week program will sales operators with pros who’ve successfully navigated the tricky waters of B2B and B2C sales, learning how to refine pitches, target the right clients, and streamline sales processes.

According to a McKinsey study, targeted training and mentorship can shorten sales cycles and increase close rates by up to 50%. That’s a game-changer for startups looking to scale. 

If you’re keen to join our first cohort, join the waitlist here and we’ll notify you once applications are available. 

Here’s to cracking the sales code, one deal at a time.

Until next time,
Anthea
Head of Platform & Community

Despite ongoing concerns about a global “VC winter,” July saw record-breaking fundraising activity across Africa.

What does this mean for the continent’s startup ecosystem, and how should both investors and founders prepare for what comes next?

On 28 August 2024, we’ll unpack the drivers behind this funding surge and discuss whether this marks a turning point or a temporary uptick in a still-uncertain landscape.

In June, we hosted the final instalment of a 4-part series on Understanding VC Metrics for Startups. We delved into Impact Metrics: how VCs define impact, what they look for in impact-driven startups, and the close relationship between impact and profitability. 

One of our speakers, Kiara Suttner, Principal at Havaic advised founders looking to get started with building a sustainable and impactful business:

“Don’t fight the impact elements. Integrate them as much as possible. Have a common driving force that is beyond money between yourself and your key stakeholders (co-founders, VCs etc.).”

Vacancies

Who is Omotunwase Osinaike?
I am the founder of Ayanna and an alum of CatalyzU’s inaugural ‘How to Startup’ Fellowship.

One career highlight since completing the CatalyzU fellowship?
Since completing the fellowship, I have been able to join a team consisting of two engineers and one UX designer to work on launching an MVP. I am the product manager and this has allowed me to apply the methods and systems I learnt through the fellowship. From being customer-centric, and establishing great team synergy to optimizing growth and building a scalable business model, I have approached the product development lifecycle in a new way.

What's one trend you're currently obsessed with?
I’m thrilled by the concept of people embracing the role of generalists. The thought of a future where individuals aren’t confined to narrow roles or methods is incredibly exciting to me. Personally, I’m passionate about acquiring diverse skills and building a robust set of competencies that will be valuable in the future. It’s like creating a personal moat - safeguarding and enriching my capabilities for what lies ahead.

Any lightbulb moments during the Fellowship?
There wasn’t just one defining moment for me. Instead, it was the entire fellowship program that solidified my belief in my ability to build a successful startup. Engaging with outstanding mentors and trailblazers on the continent provided the energizing boost I needed.

The type of person you would like to have coffee with next and why?
I would love to have coffee with Everette Taylor. As a founder and entrepreneur with a strong interest in art, he uniquely bridges the gap between technology, business, and creative expression. I’m fascinated by how he integrates his passion for art with his investment strategies and how this intersection influences his approach to both fields.

One piece of advice for incoming fellows?
I’d recommend asking as many questions as you can. Use every opportunity to present your questions to the lecturers during sessions or to your peers in the fellowship. This program offers a rare chance to receive personalized advice from some of the brightest minds on the continent. Spend each day reflecting on your questions and be sure to ask them, even the ones you might think are silly.

Ecosystem News

Ecosystem News