The average Investor in a Kenyan Tech Start Up is Foreign/ Foreign based and for them to invest in your startup or purchase a note in it, they need to be sure that you comply with the local law.
Having reviewed and worked on different investment agreements, I’ve learnt that most investors need evidence that you are registered as a Data Controller/Processor and have a registered intellectual property right over your creation.
Why do they do this? This is because unlike in Kenya where were are just starting out with our Data Protection Law, other countries have understood the significance of Privacy and they are aware of the dangers of fines and penalties from privacy breaches. They are conscious of the importance of consumer trust in building successful and scalable products.
So what next?
As you connect with prospective funders and investors. Increase your prospects of getting funding quicker by having a registered intellectual property right over your creation and complying with the Data Protection Act.