“Failure is the default outcome for a startup” – Iyin Aboyeji
From Okra to Edukoya and Lydia, news of startup shutdowns often sparks intense scrutiny and speculation, but according to Iyin Aboyeji, "failure is the default outcome of a startup," and it is a fact he wants investors and founders to make peace with
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From Okra to Edukoya and Lydia, news of startup shutdowns often sparks intense scrutiny and speculation, but according to Iyin Aboyeji, “failure is the default outcome of a startup,” and he wants investors and founders to make peace with it.<br />
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Aboyeji, General Partner and co-founder of Future Africa, made this point at the Africa Deep Tech Conference 2026, during a conversation with renowned operator Adia Sowho.<br />
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The conversation kicked off with a discussion of how to fund deep-tech companies in Africa.<br />
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Sowho emphasised the importance of leverage and building products people are willing to pay for. In her experience working at large corporations, including 9mobile (now T2 Mobile) and MTN Nigeria, smaller players rarely get favourable treatment unless they walk into the room with something valuable.<br />
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For founders seeking partnerships, customers, or investors, that leverage can be as simple as building something people are already willing to pay for.<br />
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“Build something your mother will pay for. Make sure you can see the cash in the product before you go out for money. The only way you hold onto ownership is if you have a path to survivability.”<br />
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Meanwhile, Aboyeji argued that deep tech innovation does not always follow the typical startup playbook.<br />
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Unlike consumer apps or simple digital services, deep tech products can take years of research and substantial capital before they become commercially viable. In those cases, waiting for early customers may not always be realistic.<br />
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However, the issues circled back to how founders and investors perceive startups. This perception has shaped what we build, how we build it, and how we fund it.<br />
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Victoria Fakiya – Senior Writer<br />
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Builders and investors have their problems<br />
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Adia Sowho<br />
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When it comes to building and...
