Richard Branson; Why I invest in start-ups!
Sir Richard Branson, the founder of Virgin group estimated by Forbes to worth over $5billion has a vast interest in start up businesses and has invested in over seventeen of them. The business magnate who recently announced unlimited vacation for over 200 of his personal staff disclosed his interest in startups in his blog posts. He described startups as the job creators and innovators of the future. In his words ‘ I am delighted to see so many entrepreneurs taking their start-ups to the next level and transforming the way we do business. These businesses not only have the potential to become a vital source of employment, innovation and productivity to economies, they are a shining example to younger generations that creativity, passion and hard work can change the world for the better.’
He said that Investing in these exciting start-ups and giving them the funds they need to grow into companies that deliver on their disruptive potential is essential. (I hope most African successful businessmen will buy into Mr. Branson’s reasoning).
In the transport sector he invested in developing 3 three apps, Uber, HailO andSideCar that give users quick access, convenient and reasonably priced ways to travel around the world’s busiest cities. These apps are meeting these needs and disrupting a market that has remained unchanged for many years.
In the Financial Sector Indiegogo, a crowdfunding platform, allows entrepreneurs better and cheaper access to the seed financing they need to get their business up and running. Similarly, Bitcoin is creating an entirely new form of currency. PayPal announced they will integrate BitPay into their website. Transferwise is another clever way to avoid hidden transfer costs when people send money abroad. By using a peer-to-peer model, customers can save 90% on transfer fees compared to what traditional banks are offering. Square and Clinkle are other apps in the financial sector.
While in healthcare, Doctor On Demand uses smartphones to connect patients with doctors. This allows people to see a doctor from the comfort of their home and gain immediate care without the need to spend money and time getting to a hospital. It also means that quality medical care is not limited to those that live within commuting distance of a hospital.
Other Start up business he had already invested in are;
CreativeLive, is an online learning platform that broadcasts live classes to an international audience. Path, Humin, Mosaic Ventures, and 3D Robotics which is being used to film aerial footage or even stop poaching.
He stated that every global company today, from Apple to Google, Twitter, even Virgin, started off as a start-up and it is important that we continue to create the environment for start-ups to thrive in whilst they embark on their exciting journeys.
