“Think of how you can leverage networks and position yourself to attract funders.”
It all depends on what the kind of media start-up is planning to do. For example, if it is an online platform, one will incur different costs than terrestrial radio, print, or cable TV in Tanzania.
Have a plan and think of the best entry point for the business. Try and raise funds individually. Use crowdfunding from friends and family or launch a funding campaign.
Try to get investors to support the start-up but have a clear plan about how it will be a successful business. A loan is also another option, but in countries like Tanzania, this might be a problem.
Also, think of how you can leverage networks and position yourself to attract funders.
Fausta Musokwa is the interim Executive Director of the Tanzania Media Foundation (TMF) TMF enables investigative and public interest journalism through funding and learning activities and facilitates critical reflection and learning for journalists and other media stakeholders.
“In my case, funding for the start-up came from the few savings I had made.”
In my case, funding for the start-up was based on the few savings I had made and also relying on the inflow of my salary. I also had to speak to some friends who could contribute.
You are starting to operate a business without having a full-time office because you cannot pay the rent or starting an office without having the necessary equipment such as laptops and cameras to do the work. It is a hustle that many entrepreneurs face in Uganda to raise capital for start-ups.
Kenneth Lukwago is the CEO and Chief Strategist at Buzy Minds Ltd, a media consultancy company. He is also the Producer of Spectrum programme at Radio One and Radio Two in Kampala, Uganda.
“Digital media and innovation in technology creates space for media innovators to start small.”
Digital media and innovation in technology creates space for media innovators to start small. With affordable options for Video & recording equipment, I founded Pink Foundry ltd, creating content specifically for digital platforms through my own savings. Growth of revenue is also reliant on how innovative one can be with brands on engagement, and the options are quite diverse.
Terryanne Chebet is an entrepreneur, digital content creator & influencer with combined following of over 1.4M and over 15 years experience in media leadership and management. In 2020, she founded Africa’s Leading Ladies, a platform giving women access to learning, mentorship and networks.
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