This partnership enables the Inqumax incubated startups to manage their whole fundraising process through one platform, from finding investors to managing their due diligence.
The African startup ecosystem has seen an unprecedented increase in the rate and frequency of startup investments [in 2020, early-stage companies accounted for 64% of Africa’s 359 startup funding rounds above $200,000]. Nonetheless, a large number of early-stage startup founders are still having difficulty attracting the necessary funding to attain the next milestones.
It is especially difficult for startup founders who have no prior experience building investor relationships and closing an investment deal. Some of the challenges include a lack of access to a network of prospective investors, their uncertainty of investors’ due diligence process, and a lack of a cohesive investment-readiness structure (valuation, cap table, financial projections etc.). Without a doubt, these factors have contributed to the continent’s continuous increase in the number of failed startups.
DueDash and Inqumax Incubator agreed to enter into a mutual partnership agreement on October 15, 2021. One that aims to provide valuable resources and tailored access to well-vetted investors who are actively funding startups to Inqumax’s portfolio of early stage startups as well as other startups within its ecosystem. This collaboration strengthens Inqumax’s long-standing value proposition of providing access to investment opportunities. DueDash, on the other hand, benefits from having an established foothold in the Nigerian startup-investment ecosystem.
“DueDash is excited to support Inqumax and their startups to build the next generation of innovative and sustainable Nigerian tech ventures. This decade will see a multitude of ambitious and inspiring African founders build companies that will solve pressing challenges and employ millions of people across the continent. By partnering with incubators like Inqumax we want to support founders in Nigeria and we look forward to a long and healthy partnership.”
-Michail Kosak, Chief Marketing Officer at DueDash
“At Inqumax Incubator, we are passionate about assisting startups in their early stages, which includes actively building with them and making necessary resources available to aid their development, with the ultimate goal of having them investment-ready by the end of the 12-week incubation program. We’re excited about the prospects of this partnership with DueDash, and we believe it’s a strategic alliance that will help us achieve our goal of building investment-ready early stage startups.”
-Henry Ukoha, General Partner at Inqumax Incubator
About Inqumax Incubator: Inqumax is an ESG-focused startup studio helping African youths and entrepreneurs build the next decade of sustainable startups. We believe that integrating ESG at the earliest stages of a startup is more effective and allows for easier integration within the company culture; making the next generation of unicorn-status startups and high-growth businesses in Nigeria and Africa more diverse and inclusive, more concerned with their employees’ health and safety, and better serve their communities and the environment.
About DueDash: DueDash is a private capital toolbox for founders, investors and ESOs to successfully partner with each other. It enables investors with advanced filtering, scoring, deal flows, outreach and more. Founders can elevate their investor relations by engaging with investors, raise capital, track metrics, and build business at speed.