Global investors are not taking notice of Kenyan start-ups as 60% of new tech businesses in the East African country are ‘bootstrapped’, according to a GSMA report. The term ‘bootstrapped’ refers to businesses funding themselves in their initial start up phases with little or no money.
“As in many low-income countries, venture capital firms are dipping toes in the water but failing to take the plunge,” says the GSMA in its ‘Digital Entrepreneurship in Kenya 2014’ report.
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