When we first launched tiphub, we thought it would be a great exercise to re-think some basic assumptions on how to support, scale, and invest in great companies in Africa and the African diaspora. We developed three statements that are at the core of tiphub’s identity.
- There’s huge opportunity for businesses that do well by doing good. Funding in the Africa and diaspora space has usually fallen into two categories; funding from organizations who want to make the world a better place and organizations who put money as the driving force for an investment. We believe the biggest market opportunities are inherently socially driven, therefore purpose and profit walk hand in hand. We look for mentors, investors, LPs, and founders who believe the same.
- The future of entrepreneurship is remote. We believe physical infrastructure like incubators and coworking spaces will always have a place in the entrepreneurship ecosystem. However, the cost of shared resources like internet, utilities, and barriers to meeting customer will continue to decrease and the overall barriers to entrepreneurship will decline, especially in rural, less populated areas. We believe companies will continue to seek support in physical spaces and we’ll right there too, but we are building for a future where a company’s success is not decided by their address.
- There’s a lot of money out there but a scarcity of people who genuinely care about a company’s success. We can discuss if there’s an allocation issue based on geography, gender, market, and etc, but for all intensive purposes, there’s a lot of venture capital funds available. A challenge for African and African Diaspora focused founders is getting a community fully immersed in their success. At tiphub, we take a community first approach to developing value for our founders. It takes a village to build a successful company.
These statements are the core tenets that drove our organization in the early days. We’ve gotten a tad more nuanced in our beliefs but the core still rings true; Purpose and Profit can work together, democratize access to entrepreneurship resources, and build community. Our values are the key differentiators to how we operate and deliver value to stakeholders.