How AyaHQ turned a failed startup into a founder-building business

Since its inception in 2020, AyaHQ has undergone multiple transformations, beginning as a stablecoin payments product, evolving into a remote-jobs marketplace, a training program, a founder program, and eventually operating physical residencies in two countries. Co-founder Eric Annan has openly admitted that their identity has been difficult for many to grasp, often receiving inquiries about the exact nature of their work.

Annan states that AyaHQ has assisted African founders in building companies, trained software engineers, product designers, and product managers, fostered connections among entrepreneurs through physical hubs, and facilitated the creation of over 80 startups.

In October 2023, AyaHQ closed its Kenyan residency in Kilifi, a 40-bed facility designed to unite builders, after running out of funds after nearly two years of operation. Annan acknowledges that while the model proved effective in establishing real founder infrastructure and attracting serious builders, securing the necessary funding proved to be a separate challenge.

The company's journey began when Annan attempted to form a startup with a team spread across different parts of the continent, despite believing he had assembled the right technical talent, vision, and skills to build a successful company. However, the team struggled to collaborate effectively, leading Annan to reflect on the importance of unity in achieving a cohesive project outcome. This realization became the foundation for AyaHQ's mission.

AyaHQ's first product, Aya.cash, a stablecoin payment platform, was launched in 2021 to help African remote workers receive and transfer money across borders. As remote work surged during the COVID-19 pandemic, existing payment systems proved slow and costly, making it challenging for African professionals to receive payments for international jobs.

Annan emphasizes that while faster payments were valuable, they were meaningless if they did not result in securing the work that triggered them. This realization prompted AyaHQ to shift its focus towards addressing visibility and access issues for African talent among global employers in May 2022.

AyaHQ then introduced Aya Gigs, a platform connecting African digital professionals with international employers seeking remote talent. Within six months, Aya Gigs had facilitated more than 100 connections between African professionals and international job opportunities. However, the success of Aya Gigs revealed a new challenge: many professionals faced difficulties in meeting the expectations of working in global teams, with communication being a significant hurdle.

Annan provides an example of how a Ghanaian professional's frequent use of the word "please" when communicating with American colleagues created confusion among employers regarding the manner in which tasks were requested. He stresses that the issue lies not with the skills of African talent but with the gap between their training and the demands of modern collaborative workplaces.

Consequently, AyaHQ retired Aya Gigs as its core business in September 2022, redirecting its efforts towards developing the skills and working habits essential for professionals to thrive in global teams.

In September 2022, AyaHQ received a grant from Coinbase, a US-based cryptocurrency exchange, which funded the pivot and AyaHQ's inaugural training program. The program brought together software developers, product designers, and product managers in a shared space to learn how to collaborate effectively on problem-solving and product development.

Annan notes that the experience of this program profoundly impacted participants, many of whom went on to build products they desired to commercialize, affirming the company's shift in focus from preparing African professionals for jobs to creating environments where founders are nurtured. Annan concludes that AyaHQ's mission has evolved from equipping individuals for employment opportunities to fostering the ecosystems where startups can emerge and flourish.