Thoughts on Meet the Toshikas

Q1. Why did you apply for Meet the Toshikas?

Philippe - “We were invited to enter the program, and we were very surprised that this kind of program exists. However, we have been looking out for this kind of program to show to the world that we have great solutions in Africa. We were not prepared but we said “Yes! Let’s go!” We thank the UNDP for this opportunity.”

Kae - “We just entered the program to have an experience. We were not prepared. So, we said, “Yeah let’s try” and to our surprise, we got selected”

Q2. You will be attending a 1-week roadshow in Japan with an opportunity to secure investment and build partnerships - what are your expectations?

Philippe - “This will be amazing because it will allow us to accelerate our expansion in Tanzania and beyond. We aim to find someone to join us on this journey because, in the next three to five years, we need to capture as much market share as possible. We know that within this timeframe, the big players will want to enter Africa. They will either compete with us or partner with us. The exit for our investors will be incredible.

Our highest expectation is to find a partner who can help accelerate our growth, bring more experience, and provide investment. This will allow us to address the challenges we've faced, such as gaining trust and securing marketing funds, which will help us develop new solutions and fix existing issues. With a bigger tech team and more investment, we can make a significant impact in the market. When we make a lot of noise, people will recognize us and trust us, seeing our presence and success.

The lower expectation, which I believe will be the reality, is that we will learn a lot from this first round of investment. We will understand what investors are looking for, and in the next opportunity, we will be better prepared with improved numbers. This experience will be invaluable, allowing us to see what we need to improve and how we can get better.

Overall, our goal is to make a significant impact, and with the right partner and investment, we will be able to achieve it. This is the higher opportunity, and it will be a moment to celebrate our success.”

Kae - “My expectation, as we discussed before, is that I am already very grateful for the opportunity to go to Japan and extremely happy to be selected. From now on, everything is a positive experience for me. My expectation is to gain valuable experience from this event since we have never participated in anything like this before. Everything will be new.

I am looking forward to going there to learn, see how things work, and show who we are. I hope they feel the same energy we have here. Of course, examining the numbers, operations, and business is important, and if they want to join us, that would be the best outcome.

However, just having contact with this kind of environment and these investors is the biggest thing for me. We are here to learn and understand because this will become part of our reality moving forward. This experience will prepare us better for the next rounds of participation.”

Q3. How did you find the selection process and the events so far, what sets you apart, any learnings?

Philippe - “First of all, everything was new for us. We needed to answer lots of questions and send our pitch. We quickly made a pitch in 2 days because we didn’t have one. I recommend that next time they should provide a template for the pitch so that we will be very precise on that. The factory visit was very interesting to us. They wanted to see what your business is and what you are doing. The meeting during the visit was very important because they also asked good questions that has helped us to rethink about the business. Also, the topics covered during the bootcamp – unit economics, investment readiness, and fundraising provided lots of details”

Kae - “I would say the boot camp was incredibly beneficial. They provided support and helped us understand not only what they need but why they need it. This guidance was invaluable in building our business and gaining clarity. For our business, the boot camp was extremely helpful. I do wish we had more time for discussions and conversations because the time was short, and the meetings were rushed. If we had a bit more time to delve into things without feeling rushed, it would have been even better. Nonetheless, the experience was very good. The opportunity to connect with people who have expertise in these areas was invaluable, as we had never had contact with such experienced individuals before. Talking to someone with expertise on the matter was very enlightening.”

Kae - “On what sets us apart, I would say we showed business maturity, good business mentality and good understanding of the market. We were very focused on getting things done.”

Philippe - “I agree with Kae, we showed business maturity. What I will add also is that we showed that we are a startup with very good figures. We showed that we are scalable”.

Q4. How different is MTT from other accelerators and incubation programs?

This is our first attendance of this kind of program. But we have really enjoyed this one.

Q5. Any advice for future applicants to this program?

Philippe - “I think I will encourage other startups to apply. I will advise that they show honesty and put the right numbers. They should understand what their main purpose is and what they are doing. They should show where they want to go and also that they can be better than their competitors. Finally, they should be open to receive this kind of opportunities”

Q6. A Do you have any final words for people who are interested in startups in Africa including Japanese investors and corporates reading this article?

Philippe - “What I would say is the African market is a continent that no one is paying enough attention to, as I mentioned earlier. It is the richest of all the continents, and if you look back 50 years at other continents, Africa is in a similar position now. The biggest opportunity worldwide is in the African market. To investors, I would say that businesses like Mambo and others have proven to be big successes in other continents. If investors missed out on those opportunities because it was too late, they now have the chance to enter the African market at the right time. Investors now have the opportunity to join this journey and be part of something that will grow significantly. If you want to invest in a market with immense potential, now is the time to invest in Africa. The opportunity is here, and we welcome you to join us on this journey to achieve great success.”

Kae - “My words to investors are very simple: Come now or regret it later.”