Investing in Nigerian tech startups

What you can do to create a killer application to 440.ng

Posted: February 10th, 2015

What you can do to create a killer application to 440.ng

We’ll be opening for applications in July this year. If you need funding for your startup, and are thinking of applying to 440.ng, here are a couple things you can do to help sharpen your application. If you get these two elements right, you will drastically improve your chances of getting to an interview and receiving an investment offer.

1. Get your team right. We say this a lot, but even so, over half the applications we get are from startups where the team is simply not fundable. So, if you’re a solo founder, find a business partner. If you don’t have any expertise in the industry or sector you’ve chosen, find someone who has. And if you say that you will build something that is highly reliant on technology, or b2b sales, or some other particular skill set, then you better be that person, or find that person.  Luckily you have a few months to get this done, if you haven’t already. It should also be a walk in the park for a hustler-driven-nothing-will-get-in-my-way entrepreneur like yourself.

2. Stop building and start testing. One of the biggest disappointments when reading through applications is when the team looks great, the market is attractive, and its been hanging in there for awhile, but there are no customers or revenue to show for. No in-depth insights into their user segment, the market, or first-hand knowledge about challenges in the industry. If you want to do one good thing for your startup today, go out and find a customer (i.e., someone that pays for something), and when you do, find another. It’s also easier to recruit your super-star team of co-founders and employees if your startup is more than some lines of code, a splash page, or a presentation.

3. If you’re wondering why you should apply for funding from us, you can check out this video and see what we do during the accelerator, as well as what our 2014 batch of startups had to say about getting funded and going through the accelerator.

 

 

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  • See who's behind 440 - the team, advisors, and mentors

  • See who 440 has invested in.

  • Why should I apply to 440? How does it work?

  • Follow us on Twitter for updates.

  • We have made an investment into DavtonLearn, an online video learning platform for professional certifications, founded by Tobi Obasa.