The Hub East Africa is a knowledge centre that exists to inspire and cultivate professional entrepreneurship among startups and SMEs from diverse sectors in the East African economy. As an organization that is actively involved in a day to day engagement with entrepreneurs, it is our core business to support businesses to start, grow and scale into sustainable enterprises. We are not an incubator in the traditional sense but a knowledge hub providing trainings and other programs and activities to entrepreneurs focusing on strategic, operational and commercial excellence. In addition we provide the full eco-system consisting of desk/office space and financing solutions through the different partnerships we have established.
We regard entrepreneurs and entrepreneurship in high esteem as a driver of change, development and progress. Entrepreneurs build businesses that create value, employment opportunities and deliver crucial services and products where it is needed most. We believe in entrepreneurs being the silent motor of our economy. In an economy that has the ambition to take up opportunities, it is our mission to support entrepreneurs to take full advantage and own up to their potential.
Apollo Eric of Point50Capital
by Kendi Gikunda
Today we sat down and had a chat with Apollo Eric of Point50Capital. This is a guy who cycles to work, IN NAIROBI. He runs, roller blades and does yoga. He is up by 3:00 am or 4:00 am Kenyan time depending on what he is doing on that day. He has so much energy you would feel unhealthy looking at him.
I studied Medical Biotechnology but I focused on IT. I attended classes with Computer Science students and I knew I loved IT from early on so I devoted a lot of my time in IT classes even those that weren’t necessary just to gain the knowledge.
How did you get into IT and entrepreneurship?
I have never had a normal job like an 8-5. I was an entrepreneur from early on. When I was a teenager I was a hawker to make money to support my family, pay for my school fees and those of my siblings.
After I got my degree I couldn’t get a traditional job as much as I wanted to, apart from contractual work here and there as an IT freelancer. Tired of dropping my CV’s everywhere getting back to the house around noon, I would go online to do trading. That’s how I learned to trade: online. Just in case anyone will be reading this and thinks online trading is a quick fix to getting rich: think twice before you start! The first few years I lost as much as I gained and I was one of the more lucky ones! It is very easy to get lost in the excitement, overcommit and lose all you have.
Read the full interview here (including recommended resources on blockchain).
If you think about it: why would you expect from a business to survive if there is no market need for the product? Because thats what the statistics tell us: 42% of startups fail because they can’t find enough customers to sell their product to. In that light, it is not surprising that another 29% of startups fail because they run out of cash. Be careful to confuse cash (working capital to keep going) with funding (investment to get started or scale). This leads to another interesting fact worth mentioning: only 10% of businesses that bootstrap say they failed because they run out of cash.
Knowing this, is there any way you as an entrepreneur can prepare yourself to avoid falling into the “failure” category? Asking the question is answering it: yes! We have carefully designed programs for different stages of business development.
Whether you are in employment or a starter wanting to validate the profitability of your idea, this series of workshop is for you. In this 6 week program we deep-dive and test your idea through four dedicated workshops. Classes will be small and personal, where we mix theory with real life application tailored to your situation.
Hubcubation is a 6-month program designed for entrepreneurs who want to take their startup to the next level of professionalism and sustainability. The program has a 360′ approach build on three pillars: knowledge, network and mentor/coaching. In ten workshops you will go through all elements required to run a business: from strategy to operations, from marketing to management. The program is set up to be a real time, real learning, shared experience.
Do you have a growth mindset? Moreover: do you have a growth attitude resulting in successful execution? Build on best practices from world leading executive business schools, this innovative program holds an experience for the truly motivated only. In two months time we break you down and build you up again to reach the highest of standards.
Everyday inspiration in your mailbox…