<h1 style="text-align:center;">Out and About with Deliver Addis</h1>It's a busy Monday in Addis, people are at work, still trying to get into the swing of the week. Over at the Deliver Addis headquarters, they are preparing for the orders to start to come in. Monday is one of the busiest days of the week as it seems some customers have a weekend hangover and want the convenience of having their lunch delivered to them. On this particular Monday, RENEW decided to ride along with one of the drivers to get a first-hand glimpse of what it’s like to work for Deliver Addis.<figure class="image"><img src="/uploads/rr_collage_0_8acc6a282e.jpg"></figure>Not far away from HQ, Sintayehu a bike driver for Deliver Addis, is all ready to get the orders and feed his hungry customers. As he’s been trained, he is constantly&nbsp;checking his phone to see if orders are coming in. Time is of the essence.Sintayehu, a young man in his early twenties was born and raised in Addis just next to the African Union headquarters. He says he loves his job at Deliver Addis. He has a manageable&nbsp;timeframe to deliver food to customers and he also uses a user-friendly&nbsp;phone-based technology with a GPS link to the delivery&nbsp;address. The application makes his job easy. The first order of the day came in from an expat couple, who live around a place called Global Hotel. Sinatyehu received the order at&nbsp;11:25 AM&nbsp;and was already at the restaurant&nbsp;five minutes after the order came in. By&nbsp;11:52 AM&nbsp;he was at the couples front gate. The wife came and gave him a warm smile, took the food and went back in. He says just seeing the smile on the face of his customers makes his day. Eighteen months after starting this job, Sintayehu has bought a bike and is very excited to continue to work with Deliver Addis in the city he loves.&nbsp;Although we didn’t ride along all day with Sintayehu (we didn’t want to slow him down), it was great to see him in action!RENEW and the Impact Angel Network are proud to partner with <a href="https://www.linkedin.com/in/feleg/">Feleg Tsegaye</a>. and the team at Deliver Addis through our investment in Roadrunner Technology Solutions LLC. Want to learn more about the recent investment? Read our October Press Release.<hr>Applications are now being accepted for the second offering of the <a href="https://www.renewcapital.com/companies">CFO 100 Program</a> which starts in February 2018. Visit the <a href="https://www.renewcapital.com/companies">CFO 100 Program</a> page on our website to learn more.

Learn more about RENEW’s recent partnership

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Out and About with Deliver Addis

<h1 style="text-align:center;">Women in Finance Roundtable</h1>At RENEW, we truly believe that in order for an economy to be robust and its private sector to flourish, its finance industry needs to be enabled with strong decision-makers with diverse backgrounds and opinions. One aspect of this much-needed diversity is the presence of both male and female professionals who are empowered to think critically, plan and make decisions based on the numbers.However, the reality in Ethiopia right now looks much different from what we hope to see. The finance industry lacks strong CFOs and aspiring female finance professionals often lack the skills and presence&nbsp;to move beyond basic bookkeeping.&nbsp;Here at RENEW, we have been asking ourselves, “What can we do to help women in finance build up their confidence and skillset to overcome the challenges in this ecosystem?”On November 29, RENEW partnered up with Zemen Bank and hosted the&nbsp;Women in Finance Roundtable: How to communicate and influence decision making.&nbsp; A diversified pool of 20 female participants from all corners of the finance industry attended, including: senior leaders and managers of private banks, medium and large corporations, and from the chamber of commerce, to name a few.&nbsp;<figure class="image"><img src="/uploads/img_9204_fotor_1_699a9234b8.jpg"></figure><a href="https://www.linkedin.com/in/berhane-demissie-ab989914/">Berhane Demissie</a>, Managing Partner of Cepheus Capital, shared stories of her incredible journey to become the first female to own her own fund in Sub-Saharan Africa and generously answered everyone’s questions.Her path has not been without a bigger-than-average dose of challenges. I truly found that the candidness, humbleness and passion with which she spoke about her beliefs and approach to a career in finance (and to life in general) very relatable and empowering.Here are some of my favorite takeaways from the Roundtable:<ul><li>Having a balanced life with pillars of friends, family, religion, work (or however that looks for you personally) is extremely important. All those pillars together are what gives you strength in the face of challenges.</li><li>We should not be ashamed of failing. The trick is never to get the same scar in the same place.</li><li>As a female, we have advantages. We can play to our instincts and to our strengths. We have a lot to offer, we just need to package it right and communicate it well to make it work for us.</li><li>To achieve success in the industry, having the knowledge of the environment is equally important as knowledge of finance.</li><li>We all need an "I can do it!” attitude. Never lose sight of “I can do it” and never accept excuses.</li></ul>What an inspiration, indeed! Thank you Berhane.Applications are now being accepted for the second offering of the CFO 100 Program which starts in February 2018. Visit the <a href="https://www.renewcapital.com/companies">CFO 100 Program</a> page on our website to learn more.

A night focused on communicating and influencing decision making.

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Women in Finance Roundtable

<h1 style="text-align:center;">Resources for Startups</h1>This month, we looked at resources for companies and entrepreneurs in the startup phase. Included in this list is how to raise a seed round for your company and articles outlining why startups often fail (and what you can do to prevent that from happening). Lastly, startup or not, it’s always good to acquire skills that other top-performing executives use. Blinklist allows users to read key lessons from over 2000 books so you can stay up-to-date on the latest information.<ul><li><a href="https://medium.com/marketing-and-entrepreneurship/dear-entrepreneurs-this-is-how-to-ace-your-seed-round-d30056c4463e">Dear Entrepreneurs: This Is How To Ace The New Seed Round:</a> A few practical tips on raising a seed round by a Principal at Founder Collective, a seed-stage VC fund that has backed hundreds of startups — including Buzzfeed, the Trade Desk, Makerbot, and Periscope.</li><li><a href="https://www.cbinsights.com/research/startup-failure-reasons-top/?utm_source=CB+Insights+Newsletter&amp;utm_campaign=9f01ba24fd-TuesNL_10_31_2017&amp;utm_medium=email&amp;utm_term=0_9dc0513989-9f01ba24fd-89425349">Top 20 Reasons for Why Startups Fail:</a> Sometimes failure is a good teacher to avoid expensive mistakes in a startup. CB Insights shared the major reasons for startup failure after analyzing 101 startup failures.</li><li><a href="https://www.cbinsights.com/research/startup-failure-post-mortem/?utm_source=CB+Insights+Newsletter&amp;utm_campaign=9f01ba24fd-TuesNL_10_31_2017&amp;utm_medium=email&amp;utm_term=0_9dc0513989-9f01ba24fd-89425349">242 Startups Failure Post-Mortems by Founders and Investors:</a>&nbsp;Another CB Insights article on why so many startups flame out. These reasons, coming from founders, investors, and journalists, offer plenty of clues on business strategy and costly mistakes to avoid.</li><li><a href="https://www.blinkist.com/">Blinkist:</a> Read a book in 15 minutes of fewer. High performing executives read a lot. Blinkist allows a user to read the key lessons from 2000+ nonfiction books through a paid subscription. However, as a free user, you can read a pre-selected book a day.</li></ul><figure class="image image_resized" style="width:93.1%;"><img src="/uploads/screen_shot_2017_11_30_at_11_30_57_am_38eb50d832.png"></figure>Applications are now being accepted for the second offering of the CFO 100 Program which starts in February 2018. Visit the <a href="https://www.renewcapital.com/companies">CFO 100 Program</a> page on our website to learn more.Image Source: Techpreneur: <a href="http://www.techprenuer.com/entrepreneur/how-to-setup-strong-foundation-for-your-startup/">How to Setup Strong Foundation for Your Startup</a>

4 articles that are geared towards entrepreneurs and startups.

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Resources for Startups

<h1 style="text-align:center;">October Roundup: Our Favorite Resources This Month</h1>Over the past month we’ve been compiling a list of our favorite resources. From the secrets of Disneyland, to an article on Innovation and Srirarcha, these resources have it all.<ul><li><a href="https://www.fastcompany.com/40425628/the-secrets-of-disneyland-company-vet-explains-how-the-magic-happens">The Secrets of Disneyland: A Company Vet Explains How the Magic Happens:</a> In a new book, Jody Jean Dreyer shares 30 years of insight into making the Happiest Place on Earth.</li><li><a href="https://www.nirandfar.com/2017/10/confirmation-bias-terrible-life-choices.html">Confirmation Bias: Why You Make Terrible Life Choices:</a>&nbsp;Confirmation bias is the tendency to search for, interpret, favor, and recall information in a way that confirms one's belief, which usually results in sub-optimal results.&nbsp;Learning and understanding how confirmation bias works give you the opportunity to compensate for its downsides and begin making more rational decisions.</li><li><a href="http://myemail.constantcontact.com/ARC-Investments--R4-3bln-listing--LBO-France-s-PIEX-deal--Amethis-backs-Sodigaz-for-minority-stake.html?soid=1116486639840&amp;aid=9NanVdumB2U">Africa Capital Digest:</a>&nbsp;If you want to keep track of Africa's key private equity, infrastructure, venture capital deals and industry news then please refer to Africa Capital Digest.</li><li><a href="https://getpocket.com/explore/item/the-highly-unusual-company-behind-sriracha-the-world-s-coolest-hot-sauce-463224559">The Highly Unusual Company Behind Sriracha, the World’s Coolest Hot Sauce:</a>&nbsp;Sriracha hot sauce, made by Huy Fong Foods, which Tran founded 33 years ago in Los Angeles, is one of the coolest brands in North America. Here is the story of the iconic brand.</li><li><a href="https://hbr.org/2017/10/data-from-3-5-million-employees-shows-how-innovation-really-works">Data From 3.5 Million Employees Shows How Innovation Really Works:</a>&nbsp;In the Internet era, with the pace of innovation always accelerating, understanding the science of innovation could make all the difference in your ability to compete.</li></ul><figure class="image"><img src="/uploads/1_lpzbi2y_815bal_xmiuvtg_0_7183721c28.png"></figure>Image Source: Nir &amp; Far: <a href="https://www.nirandfar.com/2017/10/confirmation-bias-terrible-life-choices.html">Confirmation Bias: Why You Make Terrible Life Choices</a>

5 articles that we found useful and interesting this past month

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October Roundup: Our Favorite Resources This Month

<h1 style="text-align:center;">Living For a Better Cause</h1>I’ve always had this fear. A fear of vanishing without doing something worthwhile; living a life without a purpose. To tone down this sound in my head, I started taking part in volunteer work that had a focus on underprivileged teens from the age of 8 to 15, and I also decided to cover school expenses for one student each year. But even while doing this, I never felt like I was doing enough to help others who would benefit from what I had to offer.Looking back at the life path I had, with a degree in Economics, an MBA and over six years of experience in banking (which taught me a lot about finance, economics, business development and people skills), I have been preparing for this job. All these skills will help me create a lasting change that we call impact here at RENEW. Therefore, when I saw this job opportunity, I went for it without a flinch. I am so grateful to join a company that is working to create an impact in this part of the world. Organizations like RENEW will help develop the infant private sector.In many ways, working in this type of environment is helping to directly and indirectly improve many individuals’ lives from the jobs we are creating. Every day, I would see able people that could have participated in facilitating this country’s development, and I remember trying to figure out what was missing, why these people were doing nothing to improve their lives. And then I would see small businesses struggling to survive, not being able to grow their organizations which in return would have helped them financially and create other working opportunities.<figure class="image image_resized" style="width:98.76%;"><img src="/uploads/team_picture_for_bottom_0_dfc4b86d15.jpg"></figure>There was a missing link that could help improve the way of thinking for so many small businesses and assist them psychologically and financially, and create jobs for people. Here at RENEW, that is exactly what we do and this is motivating me to work harder because this is what I have been wanting to do for a while now. I want to participate in a cause that improves the working and living conditions for so many people.Five weeks in, and I now have the inside view of what is really happening at RENEW. It’s been really fascinating to join a team of local and international professionals working to create an impact on the very people that I want to offer my service to, in whatever way I can. The positive energy in the working environment is also improving my day-to-day life immensely. Everyday leaving work, I know I have played a role in the 2,092 jobs created and sustained by RENEW. &nbsp;

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Living For a Better Cause

<h1 style="text-align:center;">Meetings: The Widely Misused Parts of a Company</h1>I will always remember my first day at RENEW. It was Monday morning and after having three weeks of vacation between jobs, I couldn’t wait until I got assigned to my first task. I was excited to start kicking at this new company. However, when I got to work that day, the RENEW team was preparing for their weekly “Legend” meeting. The whole team wrote down their “I musts” for the week and presented them to the team. After some discussion on what should be added and what should be changed, the meeting was dissolved and the team proceeded to address their individual tasks. No one assigned me to any specific task so I was sitting there confused on what just happened and what I should do next. Then came Wednesday, and there was a ‘’Standup” meeting along with the “Active Pipeline” meeting later in the day. Then came the “Week in Review” meeting on Friday. But what was the point of all of these routine meetings?<figure class="image"><img src="/uploads/meetings_0_ee8348f28a.jpg"></figure>Being a legal counsel for different companies, I have first-hand experience on how annoying and unproductive meetings can be. I have visited several government offices, including ministries, authorities, agencies, you name it and the number of times I have returned from these offices without getting anything done, because of all the meetings, are countless. For me, meetings always represented instruments to avoid tasks, and one of the reasons for the public’s dissatisfaction in public services. Coming from this background, I was confused on how a private company, with a great vision like RENEW, wasted this much time on meetings.Then came week 2 and I began to understand the problem, and RENEW’s solution. The problem is not about having a meeting it’s about how you are using it. At RENEW, meetings are tools of execution. Every meeting has a purpose, an outcome and agenda. We take notes and conclude the meeting with a “next step”, or several. Through RENEW, I have come to understand the other side of meetings. It’s true that meetings are expensive; you are pulling people, your most valuable resource, away from their tasks and into a single room to talk. However, I’ve learned that if used correctly, meetings become the compasses of the company: they will help lead you towards the company’s daily, weekly, and yearly goals. Through meetings, you start to understand the bigger picture of the company, what the company is aiming for, where it is currently standing, its vision and how you, as an individual, can contribute to move the company forward. Now, during all our weekly meetings, I don’t expect someone to assign me a task. I already know where we are heading and how I can be of help in driving this ship forward.Image Source: UCR Alumni Blog: <a href="http://alumniblog.ucr.edu/tips-for-running-effective-meetings/">Tips for Running Effective Meetings</a>

How RENEW effectively uses meetings to accomplish goals

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Meetings: The Widely Misused Parts of a Company

<h1>Recapping our National Gathering Weekend Extravaganza</h1>In case you missed it, this past weekend, we held RENEW’s third Impact Angel Network&nbsp;National Gathering&nbsp;in Washington, DC.&nbsp;What a weekend!On Friday, Hussein Hirji and the team at the Canadian Embassy hosted RENEW’s <a href="https://www.renewcapital.com/investing">Impact Angel Network</a> for an amazing event. What an evening it was! Sunset views of the Capitol. Amazing smoked arctic char paired with a crisp Riesling. RENEW’s own Tom Scriven facilitated a conversation with Bertrand Badré, former CFO of the World Bank, stretching our minds through discussion about the macro environment in the global investment space.&nbsp;Laura Davis and Marcus Samuelsson discussed poverty, adoption, entrepreneurship, and the desire for a new brand for Africa (and of course, his culinary talents). Girma Baker, employee of MFTC, bringing the impact our investments are having on Ethiopians closer to home. And finally, CEO Matt Davis casting a vision for Africa in 20 years. If that didn’t get you excited, we do not know what will.On Saturday morning, Solomon Kebede hosted us at the Ethiopian Embassy for the IAN portfolio meeting. We had an engaging discussion about Ethiopia, each company in the IAN portfolio, and answered a number of questions about the challenges, lessons learned and opportunities of managing companies in emerging markets.On Saturday evening, Dr. Andrew Umhau hosted us at his residence for the IAN pipeline dinner during which we had a lively discussion about the deals in our pipeline, which we will continue to work through over the coming months.<figure class="image image_resized" style="width:99.22%;"><img src="/uploads/collage_2017_ng_883b31129f.jpg" alt="Highlights from the National Gathering Weekend Extravaganza, featuring speeches, cooking and networking activities."></figure>The encouragement throughout the weekend was for our members and guests to double down and be change agents related to investing in Africa’s private sector. There are many ways to get involved, here are just a few:<ul><li>Join RENEW’s Impact Angel Network. Registration is easy, free and has no strings attached. You will immediately be plugged into a global network of like-minded change agents working on deals, helping companies access global markets and prepping for trips to Africa to experience the portfolio and pipeline first hand. Our members call happens during the middle of each month, with the next one slated for November 15. Still have questions? Don’t be shy! Let me know and I am happy to jump on a call with you individually.</li><li>Follow and share. Here’s some easy ways to follow us and share about our National Gathering experience: Facebook: <a href="https://www.facebook.com/RenewCapital" target="_blank" rel="noopener noreferrer">Renew Capital</a>, Twitter: <a href="https://twitter.com/Renew_Capital" target="_blank" rel="noopener noreferrer">@Renew_Capital</a>, LinkedIn: <a href="https://www.linkedin.com/company/renew-llc">Renew Capital</a>, Instagram: <a href="https://www.instagram.com/renewcapital/" target="_blank" rel="noopener noreferrer">@renewcapital</a></li><li>Host an event with other change agents. The RENEW team will be making trips around the U.S. to meet with change agents in cities near you to spread the word. If you are interested in organizing or being involved in an event, let us know. We’ll help you organize a great event.</li><li>Come on an Econ-Tourism Trip. Our next trip will be February 18 – 24, 2018. You will not regret meeting with entrepreneurs first-hand and experiencing the unique culture and amazing cuisine. If you want to attend the trip let us know ASAP. Slots are limited and are filling fast.</li><li>Mark your calendar. Our next National Gathering (look for a new name, as we are increasingly a global group) is already being planned for Spring 2019. Please make a note and plan to attend.</li><li>All of the above…do it all! Your experience with us can be as hands-on as you would like it to be!</li></ul><figure class="image"><img src="/uploads/collage_fotor_79293f3111.jpg" alt="Highlights from the National Gathering Weekend Extravaganza, featuring speeches, cooking and networking activities."></figure>A special thank you to <a href="https://www.linkedin.com/in/husseinhirji/">Hussein Hirji</a>, <a href="http://international.gc.ca/world-monde/united_states-etats_unis/washington.aspx?lang=eng">The Canadian Embassy</a>, <a href="https://www.linkedin.com/in/marcus-samuelsson-35101758/">Marcus Samuelsson</a>, <a href="https://www.linkedin.com/in/bertrand-badré-90000446/">Bertrand Badre</a>, the IAN advisory board chairs, <a href="https://www.linkedin.com/in/andrewumhau/">Dr. Andrew Umhau</a>, <a href="http://www.veriswp.com/">Veris Wealth Partners</a> and <a href="http://limalimolodge.com/">Limalimo Lodge</a> for helping us deliver an unforgettable event. We also thank the members of the IAN and their families for coming to D.C. for a memorable fall weekend.

In case you missed it, this past weekend, we held RENEW’s third Impact Angel Network National Gathering in Washington, DC. What a weekend!

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Recapping our National Gathering Weekend Extravaganza

<h1 style="text-align:center;">Press Release: IAN to Invest in Logistics and E-Commerce in Ethiopia &nbsp;</h1><a href="https://latest-api.renewcapital.com//uploads/RENEW_Press_Release_Road_Runner_Final_82051b5ee0.pdf" target="_blank" rel="noopener noreferrer">Download the Full Press Release.</a>Members of RENEW’s <a href=" https://www.renewcapital.com/investing">Impact Angel Network (IAN)</a> have committed capital to fund Roadrunner Technology Solutions LLC (Roadrunner), which will partner with Universal Courier Services PLC (Deliver Addis) to expand the burgeoning logistics and e-commerce industries in Ethiopia. Deliver Addis is a technology enabled, online food delivery company based in Addis Ababa, Ethiopia, launched in October 2015. To date, the company’s focus has been on business-to-consumer (B2C) delivery, mainly of restaurant orders. The IAN’s investment in Roadrunner is aimed at helping its partner Deliver Addis to become Ethiopia’s leading technology-enabled, last-mile courier service for consumers and businesses. &nbsp;“RENEW and the IAN anticipate that this investment in Roadrunner will meaningfully contribute to the Ethiopian economy by creating jobs, reducing emission through the use of more fuel efficient vehicles, and increasing business for local restaurants, grocery stores and companies,” said Matt Davis, CEO of RENEW. He added, “We are grateful to our partners in Ethiopia and the Government of Canada who make, our work in Ethiopia possible.”Deliver Addis’ founder Feleg Tsegaye commented, “Since we launched Ethiopia's first online restaurant delivery service, people have quickly taken to it with virtually no marketing and have pushed us to expand in ways we hadn't expected. Our partnership with RENEW and the IAN will enable us to build the technology and scale our operations in order to support demands from existing and new customers, including individuals, businesses, organizations and more.”This is the Impact Angel Network’s ninth investment in its portfolio of eight companies in East Africa.If you have any questions, please contact: Erin O’Connor at <a href="mailto:eoconnor@renewcapital.com">eoconnor@renewcapital.com</a>

Roadrunner Technology Solutions LLC joins RENEW’s portfolio

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Press Release: IAN to Invest in Logistics and E-Commerce in Ethiopia

<h1 style="text-align:center;">National Gathering: Thank you for the support!</h1>The 2017 Impact Angel Network National Gathering is taking place this weekend in Washington D.C.! The Embassy of Canada has graciously offered to host us at their beautiful venue located on the corner of Pennsylvania Avenue and 5th street, a stone’s throw from the US Capitol.The National Gathering is a unique event. First, we believe it is the largest Africa-focused impact angel investing event in Washington, D.C. Next, it will attract some of the brightest, action-oriented minds in the impact investment space. Contrary to your typical D.C. gala event, this one will focus on results, transparency and honest dialogue about how North American investors are putting money to work in real companies, and creating tangible impact and returns. And if that doesn’t interest you, the menu curated by Celebrity Chef Marcus Samuelsson should be enough to attract even the most seasoned D.C. socialites.We can’t wait for Friday and the mouthwatering food, great conversations and networking with like-minded individuals and industry experts.We would also like to thank several of our partners, that have helped make this event possible; true change agents – doers – people that walk the walk. With their support, we have been able to make this the largest National Gathering to date!<ul><li><a href="http://www.international.gc.ca/international/index.aspx?lang=eng">Global Affairs Canada</a> and the Embassy of Canada in Washington D.C.<ul><li><a href="http://www.veriswp.com/">Veris Wealth Partners</a><ul><li><a href="http://limalimolodge.com/">Limalimo Lodge in Ethiopia</a></li></ul></li></ul></li></ul><figure class="image"><img src="/uploads/sponsor_logos_0_b8333863c6.png"></figure>Much creativity went into the National Gathering menu for this year! A gracious thank you to...Marcus Samuelsson and team for curating the menu The Embassy of Canada's chefs for contributing flavours and skills Mama Fresh Injera PLC for the spices and injera for the menu Andrew Umhau, M.D. for the Impact Investor Cocktail Metad for the coffee, roasted by Qualia in D.C. &nbsp;