Isimo sezinkampani ezintsha ezifuna imali ezinyangeni ezizayo sihluke kakhulu kulokho ezaziyikho eminyakeni embalwa edlule. Ngemva komjikelezo wemali eningi kanye nokwanda kwenani lentengo, izimali seziguqule ikhasi futhi zahlala esimweni esibucayi kakhulu: manje okubalulekile ukuthi iphrojekthi ikhiqize imali, ibe nomnotho ophilile, kanye nendlela ecacile yokuthola inzuzo , hhayi nje isethulo esingenaphutha kanye nomqondo okhangayo.
Kulesi simo esisha, amazwi ngaphakathi kohlelo lwezimali zokuqalisa agcizelela ukuthi u-2026 uzoba unyaka wokukhetha okunzima . Kuzoba nokukhula komsebenzi wokutshalwa kwezimali uma kuqhathaniswa neminyaka ehamba kancane, kodwa imali izogxila ezinkampanini ezimbalwa futhi ibhekane nezihlungi ezidinga kakhulu. Umyalezo oqala ukuphindaphindwa eYurophu naseLatin America ulula, kodwa unamandla: izinkampani ezintsha kumele zibonise ukuthi sezivele zikhiqiza imali engenayo noma ukuthi zingakwenza lokho ngesikhathi esifanele nesiqinisekisiwe.
Kusukela enhlokodolobha elula kuya kusihlungi senzuzo
Ngesikhathi somjikelezo ka-2020-2021, ukutshala imali kumaphrojekthi asekuqaleni kakhulu angenawo amandla amaningi kwaba yinto evamile, ngokusekelwe ekulindelekeni kokuthi ukukhula okukhulu kuzofika ekugcineni. Leso sigaba sesiphelile, futhi izimali ze-VC, kokubili eLatin America naseYurophu, zishintshele endleleni lapho amandla okusebenza edlula khona ukulandisa . Ubuhlakani bokwenziwa, obabuyinkanyezi yemijikelezo yokuxhasa eminyakeni yamuva nje, abusanele ngokwako ukuze kuthethelelwe amanani aphezulu.
Izinkampani ezigxile kumthelela wezenhlalo kanye nezemvelo, njenge-Impacta VC, zichaza lokho okuzayo njengokubuyela emuva "okunokwesaba kakhulu" ngo-2026 : kuzoba nezivumelwano eziningi kunaseminyakeni yamuva nje emibi kakhulu, kodwa kunezithiyo eziphakeme kakhulu zokungena. Ukuze kufinyelelwe uxhaso, amaqembu kumele abonise imali engenayo ephindaphindayo, ukugcinwa kwamakhasimende, ukulawula izindleko, kanye nekhono lokukhulisa ngaphandle kokusebenzisa imali ngokungalawuleki.
Lolu shintsho alugcini nje emabhizinisini asesigabeni sokugcina. Ngisho nasemizamweni yokuxhasa ngezimali ye-seed kanye ne-Series A, ikakhulukazi eYurophu, abatshalizimali bafuna ubufakazi bokuthi banamandla futhi banamamodeli ebhizinisi aqinisekisiwe. Isimo sengqondo "sokukhula kungakhathaliseki ukuthi kubiza malini" sivumela indawo lapho ukusebenza kahle kwezimali, isiyalo sezezimali, kanye nohlelo olucacile lwendlela kuthwala isisindo esicishe sifane nobuchwepheshe.
Umphumela ongokoqobo ukuthi izinkampani eziningi ezintsha ebezikade zikhuphula amathuba kalula manje sezibhekene nezinqubo zokuhlolisisa isikhathi eside, izicelo zezilinganiso ezinemininingwane, kanye nemibuzo engakhululekile mayelana nokuthi zizofika nini eqophelweni lokulingana nokuthi zizogcina kanjani izinzuzo ezinhle.
I-Impact, i-fintech kanye nemikhakha elawulwayo ngaphansi kwesibonakhulu semali
Ngaphakathi kwalesi simo esinzima kakhulu, eminye imikhakha isathandwa ngabatshalizimali. ELatin America, izimali ziyaqhubeka nokubona i-fintech , ubuchwepheshe besimo sezulu, ubuchwepheshe bezempilo, kanye namanye amagatsha obuchwepheshe obujulile axhumanisa ubuchwepheshe nezinkinga zesakhiwo kahle. Isihluthulelo akuseyona nje ukuphazamiseka, kodwa ikhono lokukhiqiza ukuhamba kwemali okuzinzile ezimakethe lapho imithethonqubo idala khona izithiyo zokungena.
Izimali ezifana ne-Impacta VC, ezitshala imali ezinkampanini ezinomthelela kwezenhlalo nakwezemvelo, ziqinise umqondo wokuthi inzuzo kanye nomthelela akuseyona imiqondo ephikisanayo . Amaphrojekthi athuthukisa ukufinyelela ezinsizeni eziyisisekelo, anciphisa izingozi zekhabhoni, noma andise ukufakwa kwezezimali akhanga kakhulu uma ebonisa amamodeli ebhizinisi aqinile futhi angakhula.
Ukuba khona kwabo emazweni amaningi kanye nokuchayeka emikhakheni efana ne-edtech, i-agritech, kanye ne-climate tech kuvumela lezi zimali ukuthi zihlukanise izingozi futhi zithole amathuba lapho imithethonqubo, hhayi nje isithiyo, iba yinzuzo yokuncintisana. Ibhizinisi elisha elikwazi ukuhamba ngezinhlaka zomthetho eziyinkimbinkimbi kwezezimali, ezempilo, noma amandla cishe lizokwakha isikhundla esiqinile sokuzivikela ngokumelene nabancintisani abasha.
Ngaphezu kwalokho, kukhona ukubandakanyeka okwandisiwe okuvela emahhovisi omndeni, abatshalizimali ngabanye, kanye nezikhungo ezifuna ezinye izindlela zokonga ezivamile. Kodwa-ke, isifiso sabo sobungozi sithonywa kakhulu ukuzinza komnotho omkhulu: amazinga enzalo, ukwehla kwamandla emali, ukuqashwa, kanye nokuzethemba kwezepolitiki kuthinta ngqo isinqumo sabo sokutshala imali ezikhwameni zebhizinisi kunemikhiqizo elondolozayo kakhulu.
Okwamanje, eYurophu naseLatin America, izinkampani kudingeka zidlulele ngale komqondo omdala "womthwalo wemfanelo wezenhlalo wezinkampani" njengokumaketha nje. Imithethonqubo kanye nezinqubomgomo zomphakathi zicindezela izinkampani ukuthi zilinganise umthelela wazo wangempela futhi zilungise imiphumela emibi, into izikhwama eziqala ukuyibuyekeza ngokuzimisela okufanayo ezikusebenzisa ekuhlaziyeni imali engenayo kanye nezindleko.
Izinhlelo zokusheshisa kanye nokusesha amamodeli azinzile
Kwabaningi amabhizinisi amasha, isango lokuthola uxhaso lihlala liyingxenye yezinhlelo zokusheshisa kanye nezokwakha amazwe ngamazwe. Izimoto ezifana nalezo ezikhuthazwa yi-Impacta VC—ezigxile ekufikeni kalula ezimakethe ezifana ne-United States kanye nokuklama amasu okuqoqa imali—ziye zashintsha indlela yazo ukuze zivumelane nalesi simo esisha, esinobugovu sabatshalizimali.
Eminyakeni yamuva nje, amakhulu ezinkampani ezintsha kanye nabasunguli abaningi bahlanganyele kulezi zinhlelo, ezihlanganisa ukuqeqeshwa, ukuqeqeshwa, kanye nokufinyelela ngqo kumanethiwekhi abatshalizimali. Ubuningi bezicelo bubonisa izinga eliphezulu lokuqhubeka kwentshisekelo yosomabhizinisi, kodwa futhi nokuthi "ukuvela" nje ohlelweni akwanele : izimali zihlola lokho izinkampani ezikufezile ngaphakathi nangaphandle kwalezi zinhlelo.
Ingxenye ebalulekile yohlelo lokusheshisa manje ihilela ukusiza amaqembu ukuthi alungise ukubikezela kwawo, abukeze izakhiwo zawo zezindleko, futhi agxile isu lawo ekulinganisweni kokusebenza kahle , njengesilinganiso sezindleko zokuthengisa nezimali ezintsha ezingenayo, inzuzo ephelele, kanye nenzuzo ngomsebenzi ngamunye. Konke lokhu kwenziwa ngenkathi kukhunjulwa ubukhulu bomthelela wezenhlalo nezemvelo, ikakhulukazi ezimalini ezikhethekile.
Izinhlelo eziningana zakamuva zibonise nomzamo oqondile wokwandisa ukubamba iqhaza kwabasunguli besifazane kanye namaqembu ahlukahlukene, kokubili ngokobulili kanye nemvelaphi yendawo. Nakuba intuthuko yenziwe, iqiniso ezindaweni eziningi zemvelo—ikakhulukazi eLatin America—liwukuthi izinkampani eziningi ezintsha zisaholwa kakhulu ngabesilisa, futhi imali yokuqalisa ibhizinisi isalokhu ingumkhakha ongenabesifazane abaningi abamele ezikhundleni zokwenza izinqumo.
Ukuzibophezela ekuhlukeni akubonwa nje kuphela njengendaba yobulungisa, kodwa futhi njengesici sokuncintisana. Amaqembu anephrofayili ehlukahlukene, ulwazi lwamazwe ngamazwe, nolwazi lwamasiko ahlukahlukene avame ukuhlonza amathuba omkhiqizo kusenesikhathi futhi avumelanise okunikezwayo kwawo nezimakethe ezintsha ngaphandle kokungqubuzana okuncane.
I-AI njengemfuneko yokusebenza, hhayi njengesimangalo sokumaketha
Esinye isiqephu esiyinhloko sale nkinga ubuhlakani bokwenziwa. Okwesikhashana, ukufaka i-AI emilayezweni yomkhiqizo kwakuyisidingo sokuheha abatshalizimali. Namuhla, umbono ushintshile: i-AI isibe yindinganiso yezobuchwepheshe , futhi ukugxila akusekho ekukhulumeni ngayo, kodwa ekuboniseni ngedatha ukuthi iletha ini ebhizinisini.
Izimali zihlukanisa ngokucacile phakathi kwezinkampani ezintsha ezihlanganisa ama-API kumamodeli akhona kanye nalawo enza i-AI ibe yinjini yangaphakathi yokusebenza . Okubalulekile ukuthi inciphisa kanjani izindleko, isheshise izinqubo, ithuthukise ukwenza izinqumo, noma ivumela kanjani imithombo emisha yemali engenayo. Ngaphandle kwezilinganiso eziqondile zokubonisa lokhu kukhuphuka kokusebenza kahle, indaba ye-AI ilahlekelwa ngokushesha ukukhanga kwayo.
Izinkampani ezifanelana kahle nale nqubo zivame ukusebenza ngedatha eyimfihlo neyinkimbinkimbi ukuyikopisha: amarekhodi ezokwelapha angaziwa, ulwazi lokusebenza oluvela ezimbonini, amaphethini okusetshenziswa kumapulatifomu e-B2B, noma amamodeli engozi ezinkonzweni zezezimali. Ukusuka lapho, zakha izixazululo zokuxilonga, zokwenza ngcono, noma zokubikezela eziletha inani eliqondile kumakhasimende futhi zilondoloze imali engenayo ephindaphindayo.
Lo mbono uhambisana nomkhuba womhlaba wonke wamaphrojekthi avuzayo ahlanganisa isofthiwe nempahla ebonakalayo noma ingqalasizinda eyinkimbinkimbi. I-algorithm ejwayelekile ingakopishwa noma ishintshwe kalula, kodwa inethiwekhi yezinzwa, ihadiwe eyimfihlo, kanye nemodeli ye-AI eqeqeshwe kudatha ehlukile kudala izithiyo zokungena ezikhanga kakhulu abatshalizimali.
Ezimakethe ezilawulwayo njengezempilo noma amandla, ukusetshenziswa kwe-AI okunesibopho kunezela olunye ungqimba lokuvikelwa okuncintisanayo: ukuthobela imithethonqubo, ukubhala phansi izinqubo kanye nokulindela izinguquko zomthetho kuholela engcupheni encane yokungabhekwa njengezimali kanye nokuzimisela okukhulu ukuxhasa amaphrojekthi esikhathi eside.
Ngenxa yalesi simo, kuya ngokuya kucaca eYurophu naseLatin America ukuthi imali izogelezela ezinkampanini ezintsha ezikwazi ukuhlangabezana nezimo ezintathu: isisekelo esiqinile sobuchwepheshe (esine-AI ehlanganiswe nemisebenzi yangempela), imodeli yezomnotho ehlose ukwenza inzuzo ngaphakathi kwezikhathi ezifanele, kanye nethimba labasunguli elinolwazi oluqinisekisiwe emkhakheni wabo.
Konke kukhomba ukuthi u-2026 ukhunjulwa njengonyaka uhlelo lwe-ecosystem olushiye ngemuva kwesikhathi "sokukhula kuqala bese ubona ukuthi kwenzekani" futhi lwamukela indlela evuthiwe: amabhizinisi anethonya, yebo, kodwa futhi anama-akhawunti anenzuzo, ukusebenza kahle, kanye nezinzuzo zokuncintisana okunzima ukuziphinda . Amabhizinisi amasha angena kulo mjikelezo omusha alungiselelwe kahle azoba nethuba elikhulu lokuqhubeka nokukhulisa imali nokuhlanganisa isikhundla sawo ezimakethe zawo eziqondiwe.