BCW #7: From Grants to Growth: The Truth About Non-Dilutive Funding

Navigating grants, pitch competitions, and angel syndicates in Africa's evolving tech landscape

May 31, 2025

Hey fellow builders,

Let’s talk about something every founder wrestles with at some point: non-dilutive funding - which sounds like every founder’s dream. Cash without giving up equity? Sign me up. But it’s not all free money and glory. There’s grit, strategy, hustle, and a few hard lessons involved. Let me walk you through it, with a friend’s story from his journey to make it real.

Six years ago, he was a scrappy founder with a big idea and a bank account that was more aspiration than reality. He’d heard about a prestigious government grant for tech startup - $50,000, no strings attached. He spent weeks perfecting the application, pouring his soul into essays about market potential and societal impact. When the rejection email landed, it sung. The feedback? His application was “too ambitious” and lacked a “clear execution plan”.

Translation: He was so focused on the vision, he forgot to show how.

That rejection was a wake-up call. Non-dilutive funding is a chess game. Pick the right grants, competitions or syndicates, and tell a story that makes people believe in you. That grant rejection forced him to sharpen his pitch, which led to a competition win and syndicate backing. It wasn’t the cash -it was the clarity.

What’s a funding lesson you’ve learned or a non-dilutive opportunity you’re chasing? Share in the comments or hit reply.

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Opportunities This Week…
Mono Hq is hiring for several roles. Apply here
Moniepoint is recruiting for several roles. Apply here
Partnership Associate (Remote) - Corp Members only (Ikeja). Apply here
BuildersCabal is hiring for a Graphics Design volunteering role. Apply here
Executive Assistant (Fintech Startup) - Lagos. Send resume to cv@talentscout.ng using job title as subject of the mail
OneBuddy is hiring for Product Marketing Associate. Apply here
Lead Product Manager, Onboarding at Deel. Apply here
FullStack Developer (Fintech) - Remote. Apply here
No-code Tool of the Week…

Studio Creatio: a no-code platform that enables users to build applications and automate workflows without the need for extensive coding knowledge. It is recognized for its user-friendly interface and robust design tools.

Fast Insight…

Don’t let where you start define where you’re going. Take the risk, build the product, and the world will follow.

____ Tope Awotona (Calendly, Founder)

Context: On growing Calendly into a $3B company from a Nigerian background, despite early challenges.

Links We Loved…

🎬Must-Watch: WeWork: Or the Making and Breaking of a $47 Billion Unicorn (2021)
This documentary explores WeWork's meteoric rise and subsequent fall, shedding light on the pitfalls of unchecked startup growth. Available on Hulu & Apple TV

🎧Spotify Vibe: Unlock Your Startup Dreams
A motivational playlist to energize and inspire entrepreneurs at every stage of their venture. Listen here

🧵 Frank Rotman (@fintechjunkie)
Frank shares valuable insights on startup success factors, emphasizing the importance of speed and adaptability in the entrepreneurial landscape.

In case you missed the BuildersCabal Community Rules of Engagement. Check it out here

Final Words…

Winning grants, pitch competitions, or angel investments in Africa’s tech ecosystem boils down to grit, relationships, and showing you get the local vibe. Grants and competitions give you a shot at funding without giving up equity, while angel syndicates bring cash and know-how if you’ve got traction and trust.

Start early, lean on hubs and communities like BuildersCabal, and pitch solutions that hit home for African challenges. It’s tough, but with the right prep and network, you can make it happen.

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Till next week,

________

Stay Building!

Chioma Judith

Writer/Curator of BuildersCabal Vibes