How to Fund Your Start-Up with Grit and Local Insight
In the world of entrepreneurship, securing funding often feels like stepping into a boxing ring: gloves on, strategy set, and heart pounding. But as Ndia Magadagela, CEO of Everlectric, shares in the April 2025 issue of Accountancy SA, this challenge is not just about raising money — it is about raising expectations. Of yourself, your business, and your impact.
Tell the Right Story with Local Relevance
A common misstep for many start-ups is replicating global trends without considering the local context. What works in Silicon Valley or Nairobi might not resonate with investors in Johannesburg or Durban. South African investors want to see solutions that speak directly to the country’s unique economic, social, and environmental realities.
If you are building a green logistics solution or pioneering fintech aimed at financial inclusion, present your value proposition in a way that reflects the South African experience. Reference local case studies, address regional challenges, and demonstrate that your product or service has been developed with this market in mind. When you root your pitch in context, it becomes more than just a sales tool — it becomes a testament to your insight and relevance.
Rejection is Part of the Journey
It is no secret that 'no' is something entrepreneurs hear far more than 'yes'. Yet every rejection offers a chance to refine your pitch, enhance your product, and gain perspective. As Magadagela notes, rejection can open unexpected doors. It provides the opportunity to pause, reassess, and return stronger.
Psychologist Angela Duckworth defines grit as the ability to persevere in pursuit of long-term goals. True entrepreneurs are those who rise again after each fall, learning and improving with every setback. This resilience is not just desirable - it is essential.
Fundraising Demands Resilience and Vision
Raising capital is a demanding process. It requires a clear and compelling vision, adaptability, and the determination to keep going when things get tough. Investors are not just offering financial support — they are investing in your belief, your ability, and your plan for impact.
As you prepare for your next conversation with potential backers, remember that your local knowledge is a powerful asset. Your story, shaped by experience and insight, is what sets you apart. And your grit — your ability to persevere through the highs and lows — is what will carry you forward.
The entrepreneurial path in South Africa is filled with both challenges and opportunity. With the right mindset, strategy, and network, you can do more than just raise capital. You can raise the standard.
Now is the time to lean in, stay resilient, and move forward with purpose. You are not just building a business, you are building the future.
