By:Nghiinomenwa-vali Erastus
The Namibia Business Angel Network (NABAN) held its quarterly pitch event, bringing together a diverse group of entrepreneurs, investors and industry experts to support and nurture the startup ecosystem in Namibia.
NABAN, a group comprising individuals from various professional backgrounds and industries, aims to stimulate economic growth by connecting investors with promising startups.
The quarterly pitch event hosted last week provided a platform for entrepreneurs to showcase their innovative ideas and secure funding.
The entrepreneurs also receive valuable feedback from seasoned angel investors, while providing angels with a potential investment opportunity.
The event featured a selection of four finalists who delivered compelling pitches, highlighting their unique value propositions and growth potential.
Each pitcher had the opportunity to captivate the audience and impress the panel of experienced angel investors with their business models, market strategies, and vision for the future.
One of the pitchers, George Nekwaya, pitched virtually from the United States of America.
The angel investors now have the task of evaluating the pitches to identify the most promising businesses for potential investment.
The successful startups who are identified will be contacted after the event and will have the opportunity to secure funding directly from NABAN members in exchange for equity.
The entrepreneurs will be provided with the financial resources needed to scale their businesses and drive economic growth.
NABAN members indicated that they remain committed to fostering a thriving startup ecosystem in Namibia, by nurturing the next generation of innovators, and creating opportunities for economic prosperity. This, they said, will be done by connecting startups with experienced investors. NABAN continues to play a vital role in driving innovation, job creation and sustainable development in the country.
Niita Shikongo, a Communications Practitioner of NABAN,said: “We believe in the power of entrepreneurship to transform our economy, and as an ecosystem support organisation, we are excited to support these talented entrepreneurs on their journey to success.”
NABAN comprises 21 individuals from different professional backgrounds across various industries, governed by a constitution and official committee. They believe in the importance of entrepreneurship as a catalyst for economic growth and are willing to invest their private excess funds in startups, in exchange for equity in said companies.
By membership agreement, each investor has committed to fulfil at least one startup investment per year.In addition to a cash injection, the startup founder benefits from the network of their new business partners, who, in many cases, also act as mentors. Email: erastus@thevillager.com.na
