READY Salone’s Investor Day began with a conversation before the competition, bringing together Sierra Leonean startup founders and experienced African investors for a Founder and VC Roundtable focused on the realities of building and scaling businesses.

Hosted by the Ministry of Communication, Technology and Innovation, the International Trade Centre (ITC), KOICA Nigeria Office and Felei TechCity, the session connected more than 17 founders from organisations including Moka and Monime, Muzambiringa and Startup Body Shop, Starrtix and Salone Agro with Zachariah George of Launch Africa Ventures and Tamim El Zein of Seedstars Africa Ventures.

Rather than moving immediately into formal pitches, founders had the opportunity to introduce their companies, explain the challenges they face as they grow, and discuss the type of support and capital they need to reach the next stage. These conversations helped investors gain a clearer understanding of Sierra Leone’s startup landscape and the businesses behind the presentations before the main Investor Day programme began.

Why the informal room matters
Before the panels, pitch decks and investor presentations at Empower Africa, a smaller gathering at Felei TechCity helped set the tone for the day. It would be easy to describe the Founder and VC Roundtable as simply a networking session, but for those working to build a stronger startup ecosystem, these are often the conversations where the most valuable insights are exchanged.

A formal pitch creates an opportunity for founders to present their vision, but an informal discussion allows for a different level of honesty. Around the breakfast table, founders could speak openly about their current position, the obstacles slowing their growth and the areas where they need support. Investors, meanwhile, had the chance to understand the people behind the businesses, explore the realities of operating in Sierra Leone and look beyond the numbers presented in a pitch deck.

That distinction matters because early-stage investors are not only assessing ideas. They are looking for evidence that a company understands its market, is solving a genuine problem and has the ability to execute. One of the clearest messages from the conversation was that while experience and background can help create an introduction, traction, customer demand and commercial progress are what ultimately build investor confidence.

What founders learned
The discussion provided several practical lessons that apply not only to the founders in the room, but to the wider startup community in Sierra Leone.

□ Traction matters more than pedigree. Investors want to see evidence that customers are using a product, that demand exists and that the business is making measurable progress. A strong educational background or impressive career history can support a founder’s credibility, but it cannot replace market validation.

□ Relationships can be as important as technology. In sectors such as fintech and insurtech, the biggest challenges are not always technical. Regulatory approvals, partnerships and access to key market players can often determine whether a business is able to scale.

□ Capital is only one part of what investors bring. While funding is important, many founders underestimate the value of investor networks, commercial introductions, strategic guidance and access to new markets.

□ Revenue provides an important signal. Many early-stage investors look for evidence of commercial traction, with around $10K in monthly revenue often viewed as an indication that a business may be moving towards product-market fit.

□ Strong financial foundations matter. Proper incorporation, bookkeeping, financial records and reporting are not just requirements for venture capital. They are also essential when applying for grants, partnerships and other forms of business support.

□ Venture capital is not suitable for every company. It is designed for businesses with the potential to grow rapidly and generate significant returns. For many companies, other forms of financing such as grants, working capital or revenue-based financing may be more appropriate.

□ Fundraising follows a journey. Founders typically progress through different stages, beginning with personal investment and early support before moving towards angels, family offices and eventually institutional venture capital when the business is ready.

□ Preparation should happen before approaching investors. Founders need to understand the basics of fundraising, including financial modelling, investor expectations and due diligence requirements, before entering serious investment conversations.

The session also pointed founders towards practical resources that can support their investment journey, including Africa: The Big Deal for tracking startup investment activity, the Sierra Leone Angel Network for building relationships with local investors, and Invest Salone’s investment-readiness resources.

Why this is bigger than one event
The value of conversations like this extends beyond the founders and investors who attended. Every founder who leaves with a clearer understanding of what investors expect improves the quality of future conversations across the ecosystem. Better prepared founders create stronger businesses, stronger pitches and greater confidence among investors considering Sierra Leone as a market.

This type of engagement also addresses a common challenge in emerging startup ecosystems: the gap between having an idea and becoming investment-ready. Building a successful company requires more than a promising product. Founders need to understand their customers, manage their operations, maintain financial discipline and make informed decisions about the type of capital that best suits their growth plans.

For Felei TechCity, creating spaces where founders can have these conversations is part of building the foundations for a stronger technology ecosystem in Sierra Leone. Investment decisions are built on confidence, and confidence comes from seeing businesses that understand their market, know their numbers and have a realistic plan for growth.

That preparation begins long before a founder steps onto a stage.

The room before the room
The formal Investor Day sessions that followed, including the panels, investor discussions and startup pitches, were built on the conversations that started around the breakfast table.

The pitch stage is where founders present their businesses, but the conversations before the stage are where founders gain the clarity, confidence and understanding needed to make those presentations stronger.