The Case for The Funding Space

In 2017 Afrigrants, a private philanthropic advisory firm based in Lagos, #Nigeria, invited Moore Philanthropy to partner with them on a new platform called The Funding Space (TFS). Collectively having worked in institutional philanthropy for over 20 years, we were exhausted by the repeated theme coming from donor colleagues that they were unable to identify great #African-led social enterprises and organizations. So, we decided to bridge that gap ourselves. With an overarching goal of Connecting #Ideas to #Finance, TFS is an #ecosystem that will inspire, challenge, support and share information on how to commercialize, scale and sustain ideas and enterprises created by African leaders. The article below is by, Thelma Ekiyor, co-founder, The Funding Space.

In 2017, The Funding Space organized its first annual convening. This event was essentially a proof of concept – we were testing our own version of “If you build it, They will come” (from the movie “Field of Dreams”).

Our argument was simple; there are numerous indigenous solutions across Nigeria and Africa that address the abject poverty and     under-development on the continent. However, the average non-profit or social enterprise’s mantra is “There is no money” to support interventions on the ground.

Conversely, most donors and impact investors or financiers will often to say to us in conversations “We have challenges locating good projects to fund/finance”. Clearly there was a problem with the process of funding social innovations in Africa. Someone was not listening or perhaps someone was speaking the wrong language. How could we get African social enterprises to package their projects in fundable terms? How could we get donors or investors to listen with flexible, affirming, respectful ears?

#Afrigrants Resources, #MoorePhilanthropy USA, #Enabek Solutions USA collaborated to organize The Funding Space as an annual convening on the continent that would create a platform for actors across the social innovations space in Africa to deliberate, strategize and forge partnerships around thematic areas.

The 2017 event brought together 150 #delegates. Participants met with #donors they only knew from “refusal letters” as one person described their experience at the event. Another participant said, “More than the access to funding opportunities, the event provided insights into what donors look for in proposals or business plans – I had been writing them wrongly”. The “Speed Dating” session at the event allowed entrepreneurs pitch to investors or simply make new contacts. Key connections, partnerships and investment relationships were made at the 2017 event. The Space also birthed a number of #strategic alliances that have jointly #invested in projects.

Our concept proved itself. We have built it and we believe that annually individuals and organizations committed to supporting #Africa will see The Funding Space as a must attend event on the #continent.

Africa is brimming with #talent, #innovation, vibrancy and grit. The Funding Space displays this in different forms. Visit #Lagos this September 27th & 28th, and join us for this year's convening. Aside from the excellent discussions and networking at the event, the project tours will convince you that genius lives in unexpected places.

For more information about The Funding Space 2018 contact our US-based convening partner, Moore Philanthropy via email at [email protected], or you may contact The Funding Space's Nigeria office directly, via email at [email protected], or via phone at (0)902 3310 002.