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“Behind every great startup success story are countless failures no one talks about. 💡 In this episode, we dive into Kenya’s most shocking startup collapses—unpacking the bold ideas, big ambitions, and costly mistakes that led to their downfall. What went wrong, and what can future entrepreneurs learn? Watch now to uncover the harsh truths of the startup world!”
Story Complied by E-Michelle.
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Date: November 21, 2024
Summary of Lessons to learn from the biggest Startup Failures In Kenya.
1. Innovation is great, but scaling responsibly and diversifying is what counts. (iProcure)
2. Beware of low margins and high costs. Also, success is as much about resilience as it is about adaptation. (Market force)
3. The setup is not just about saving the planet. Sometimes, it's about saving your own balance sheet. (Grow Intelligence)
4. You can have all the ambition in the world and the backing to match it, but without a sustainable revenue model, you're dancing on thin ice. (Copia)
Great stuff. Love your content, very well done video. Please keep posting more
The only startup I know from the list is Copia. I thought they were a company. All I heard about them from my hood of Umoja is how efficient and cost-effective effective their services were to really small scale businesses. Sad to hear their model failed. I have enjoyed the presentation and education.
Copia used to give my previous company a 5000000 order per month.. until this year January 😢
Just check the personal finances and lifestyles of the founders.
The businesses are all fundamentally flawed, low margin, high cost ventures.
Why did they exist at all?
Because the funders, “impact investors” provided money to greenwash their consciences. If these ventures made sense, they would exist in other parts of the world.
To put it another way, providing money was marketing/PR for the funders.
Copia cracked rural deliveries but were constantly changing schedules. This week was morning deliveries, the next they change to the evening
Why is it always KPMG?
lovely content!!!
VC invest in these nice sounding ideas.
They rarely invest in basic business ideas that have obvious good margins.
They see Africa as a big problem so it requires big ideas but we need many small ideas.