Cryptogene-Build: The Perfect Platform for African SMEs

There is no doubt that the major challenge that most African startups experience is inadequate funding or lack of funding. Many entrepreneurs have failed to start or even failed when they started simply because of inadequate funding. The economic development of several African countries rests greatly on the success of SMEs, therefore, the SMEs need proper funding in order to contribute to the growth of the economy.

Presently, most African startups are faced with six major barriers that they need to overcome in order to succeed.

• They need to overcome financial limitation
• Inconsistent government policies and regulations
• Weak infrastructure
• Cross border payments
• Stiff competition from globalization and
• Negligible government support.

Available information indicates that about 85 percent of small businesses are highly underfunded though a deeper investigation revealed that the majority of SMEs don't have a viable business plan and this also limits their chances of obtaining loans or grants.

Based on a survey conducted via a mobile platform on 200 entrepreneurs from five countries; Nigeria, Democratic Republic of Congo, Kenya, Ghana and South Africa. The study which sought to know the resources that entrepreneurs needed most in order to promote entrepreneurship and the programs they have previously participated in so as to improve their businesses and the biggest challenges new businesses face. A total of 36 percent of the respondents indicated that entrepreneurs require more financial resources while 23 percent are of the view that better infrastructure and facilities will be a big boost to entrepreneurship. Also, 24 percent believe that the number of African entrepreneurs will increase with the government's support.

Well, despite the fact that it is unanimously believed that entrepreneurs require financing, it has remained elusive. One of the greatest challenges that entrepreneurs face is the unavailability of high-skilled workers and also poor information about markets. In fact, the International Finance Corporation estimates that about 84 percent of SMEs in Africa are either underserved or unserved, leaving a great value deficit in credit financing of about US$140-$170 billion.

So What is Cryptogene Offering?

Come to think of it, most small business owners in Africa require not only startup capital but also proper training and knowledge that will help them in developing feasible business plans that will in turn lead to the increase of their chances of being funded and this is where blockchain comes into the picture. Cryptogene-Build is a platform that encourages members to share their blockchain start-up ideas and in turn get crowdfunded. Also, developers and other related service provides can actually indicate their interest in various ideas.

The Cryptogene-Build platform also allows members to post a concept that can be promoted and developed by members of the community through brainstorming. Consequently, the participating members will become stakeholders in the project after the creation of a proof-of-idea which will be verified. On the Cryptogene-Build platform, there is a voting mechanism that allows people that stake with the platform's token to be entitled to votes to implement a project that is suggested to Cryptogene-Build.

The ICO Phase

Okay, it gets more interesting because Cryptogene has offered everyone the chance to enjoy the packages that are available on their platform with the token launch. A total of 50,000,000 CGT will be issued and during the ICO phase, a total of 25,000,000 CGT would be sold. The platform chosen to launch the crowdsale is Waves and the smart contracts will be implemented on Ethereum. Although there could be changes in the expected capital to be sourced due to Waves/USD exchange rates and market volatility, a maximum of US$2.5 million and a minimum of US$1 million will be raised.

The best time to be a part of this great crypto-movement and to enjoy the tremendous benefits of the blockchain technology is now!

Take the step now and equip yourself for the future. Cryptogene has devised several platforms where investors can access more information about the prospects of Cryptogene and one of such projects is the airhawk-project which can be accessed here https://steemit.com/airhawk-project/@airhawk-project/announcing-our-partnership-with-cryptogene-and-airhawk-crypto-knowledge-writing-contests-3

Take that step now and get ready for the financial revolution that will change the face of business in Africa.