History tells us that women have contributed significantly to the advancement in technology. Today, however, with regards to the position of women in relation to men, the tech sector hasn’t improved dramatically from what existed in the sixties.
Like then, women in tech still experience some measure of gender bias, and are grossly underrepresented in leading positions. Their most pressing challenge which is access to funding, though a sore point, will be poked until the funding gap is almost nonexistent.
Fortunately, times are changing as the narratives are not all gloom and doom. The future grows increasingly bright for women who are braving Africa’s tech space.
The launch of FirstCheck Africa, an angel investment fund co-founded by Odunayo Eweniyi and Eloho Omame is a timely initiative that should not only be lauded but considered a clarion call for other young founders who want to support upcoming ambitious African women in tech.
What you should know about FirstCheck Africa
The female-led and female-focused angel fund founded by PiggyVest Co-founder and COO, Odun Eweniyi and Eloho Omame, Managing Director of Endeavor Nigeria is out to open doors previously restricted to female founder in terms of funding.
The newest kid on the block is so aptly dubbed FirstCheck Africa as its founders will be “writing first checks for audacious female founders, with bold ideas, at the “ridiculously early” stage,” This intervention is auspicious especially in these climes where women face difficulties securing investments at a largely disproportionate rate to men.
To illustrate, in the African tech landscape, while there were 869 co/founding members that raised funding in 2020, only 17.4% were female. In addition, the effects of the COVID-19 pandemic, have, in no small way contributed to an already problematic situation.
Hence, FirstCheck Africa is on the lookout for promising and innovative ideas to support. Also, it will also serve as an investment community for women angel investors with a desire to eradicate gender inequality in Africa’s tech sector.
According to Omame, “Our mission is to advance equity, capital, and leadership for a generation of women in Africa through technology & entrepreneurship.”
How FirstCheck Africa operates
FirstCheck will provide capital up to $25,000 for six African female founders at the ideation stage of their start-up, helping them to close significant pre-seed round within a year. Leveraging its huge network, the initiative will utilize its connections to collaborate and uplift women in their community.
The end game for these founders is to create a future where women have an equal hand in leading and shaping Africa’s wealth creation through technology & entrepreneurship.
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