One of Africa’s transformative educational technology company, Investor Magnet, in a bid to allow entrepreneurs and investors to collaborate and reinvent African education by removing the socio-economic barriers that lie in the way so more jobs can be created and the potential of Africa is fulfilled, has launched its flagship educational platform that seeks to connect 10,000 African entrepreneurs with investors.
Investor Magnet, in a statement, quoted Ghanaian award-winning entrepreneur, Forbes Africa under 30 alumni and IM founder, Sean Drake, as saying: “We are looking for the best of the best ideas that will solve whatever educational problem people face across the continent. The Investor Magnet has an extensive list of investors and we want to use this network to solve one of Africa’s biggest problems which has a direct impact to how sustainably our economies grow.”
According to the statement, Drake noted that entrepreneurs, who are looking to start their own EdTech businesses, or already have one but need investment opportunities, should visit their website to complete a short questionnaire.
“Once we hear about these game changing ideas and projects, we will then connect these entrepreneurs with the right investors who will not only finance the start-up but will also mentor and guide them along the way to make sure projects are financially and socially impactful. We already have high net worth individuals who are already eager to invest into creative and out of the box ideas,” he said.
Quoting a report, Drake said that 375 million young Africans will enter the job market by 2030, adding that: “The problem is, there are no jobs; the African educational system is outdated, irrelevant, and broken. The educational system relies on teaching book-based, academic concepts, rather than the real-life skills needed to create the jobs and companies of Africa’s future. That’s where Investor Magnet comes in.
“Inside of a simple question – ‘What if my failures in education, entrepreneurship and investing could somehow be the very tools required to reinvent and reimagine an African education system that works for all? What would that look like? And what impact would it make on the lives of young Africans?’ This is how it came about, and this is the question that keeps my team and I empowered and inspired.”
The statement said that funding for these 10,000 game changing ideas is targeted and depends on the project and its founders. Funding could be made available in as short as three months and as long as a year.
“The great thing about this platform is that this is only the beginning. Access to trusted and relevant markets and transformative technology allows entrepreneurs to further scale their socio-economic impact,” Drake concluded.