Over 51 percent of Nigeria’s startups face significant challenges in accessing funding, a new report by TLP Advisory reveals, spotlighting the fragile state of the country’s venture ecosystem.
This was contained in a report “A Decade of the Nigerian Venture Ecosystem: Numbers, Insights & Stories,” released to mark the firm’s tenth anniversary. According to the report, while venture capital investments peaked at $3 billion in 2021, startups today face mounting hurdles, including talent shortages, regulatory complexities, and operational inefficiencies.
The report pointed out that 51 per cent of surveyed startups reported difficulties in securing funding, with angel investors emerging as a crucial support. The startups surveyed noted that the difficulties in securing funding was primarily due to currency volatility and access to investors.
Read more at Newtelegraphng
This was contained in a report “A Decade of the Nigerian Venture Ecosystem: Numbers, Insights & Stories,” released to mark the firm’s tenth anniversary. According to the report, while venture capital investments peaked at $3 billion in 2021, startups today face mounting hurdles, including talent shortages, regulatory complexities, and operational inefficiencies.
The report pointed out that 51 per cent of surveyed startups reported difficulties in securing funding, with angel investors emerging as a crucial support. The startups surveyed noted that the difficulties in securing funding was primarily due to currency volatility and access to investors.
Read more at Newtelegraphng