According to the startup genome, Beijing, London, Silicon Valley, Stockholm and Tel Aviv are some of the best startup ecosystems in the world. Uses elements such as performance, capital, market reach, connectivity, talent and knowledge to generate data and research firm’s rankings. Starting ecosystems from emerging markets excluding China and India did not make the company is top 40 lists last year. It is a well-known fact that these regions lag far behind for six reasons and may go back decades before they up in the values of previously describe ecosystems.
However, Yacob Berhane and Wossen Island want to close the gap between the six reasons for access to Kenya B2B management start-ups, parity capital, knowledge and talent access. These issues, especially the issues of access to capital, are acute in Africa. For example, in sub-Saharan Africa only 25% of funding starts at an early stage, compared to more than 50% in Latin America, Mena and South Asia. “We wanted to create a solution that would help startups succeed if they wouldn’t have been able to get the resources they needed otherwise,” CEO Berhane told TechCrunch. “This problem is particularly acute in Africa because it is particularly neonatal, but the platform is designed for founders across emerging markets. Therefore, there is no mature, healthy early ecosystem anywhere.”
So, how is the Pariti team getting ready to solve these problems? Aileen tells me that in a way, Pariti is like an unbounded accelerator. In a typical acceleration, founders have to go through an intense program where they burdened with information on everything they need to know at some point in their growth at the start. Although with Pariti, founders get the necessary information or resources that are relevant as well as help them move on to the next level of business.
When a founder joins Pariti, they run their organization through evaluation tools. There they reported pitch materials and their business information. Pariti then evaluates each company with more than 70 data points, ranging from team and market to product and economy. Once this done, Pariti measures each company against its peers. Some comparisons made in the same industry, product platform, earnings and fundraising companies. The founders receive a detailed evaluation of the response to their pitch materials, an underlying metric that they can use to grow their business and raise capital below the line.
“This approach gives us a final look at their business, its strengths, weaknesses and helps the organization to test the right resources based on their needs,” said Ayele. It does not end here. Pariti also connects the founders for one-on-one sessions with members of its global expert community. According to Aileen, their backgrounds whip across a wide range of fields, from finance and marketing to products and technology. If a founder needs more help creating a product, Pariti also provides supervised professionals to hire from his community.