This week on the Finding Impact Podcast, we have part 2 of a new 3-part series about accelerators for early stage social enterprises. We are talking with Navalayo (Nava) Osembo-Ombati who is Co-founder and CEO of Enda Athletics, a Nairobi based running shoes manufacturer designing footwear to inspire customers to run like a Kenyan. Enda Athletics recently attended the SHONA accelerator program based in Kampala and just recently finished their second and final residential bootcamp. So we’re looking forward to digging into that with Nava.
On this podcast you will learn:
- How Nava used her management consulting background in putting this business together even though her and the co-founder had no prior experience in making shoes.
- Her initial impression of accelerators (she initially got a lot of feedback from entrepreneurs), and the guiding factor as to why she joined one, (primarily to get the skills).
- Her selection process for selecting an accelerator: looking at the skill sets that they needed, which accelerator had the most positive feedback from entrepreneurs, and the cost (monetary and time).
- Cost considerations: finders fees, and equity.
- How she shortlisted accelerators: quality of mentors/expertise, and the cost (whether they were asking for equity and if so, how much).
- Her experience participating in SHONA, which has a residential component: taking three weeks off / away from her company in order to participate was worth it and she came out having a birds eye view.
- Nava’s top key things in order to get to an accelerator that is right for you: know yourself (as in what you want), really understand the costs, and read the contract! (especially if you can’t hire a lawyer).
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