5 Nigerian Start-up Entrepreneurs Receive €135,000 as part of the Orange Corners Innovation Fund (OCIF)
Start-up entrepreneurs Tosin Adelowo: Co-Founder; Chekkit Technologies, Fela Akinse; CEO of SALUBATA, Babajide Oluwase; Founder of Ecotutu, Nkechi Idinmachi; Founder of Machi and Bamidele Joshua; Founder of Mainlotz Edge have emerged first to fifth place winners at the Orange Corners Nigeria Business Pitch Competition. The Entrepreneurs have access to a €135,000start-up capital of 75% grant and 25% loan provided by the Netherlands Enterprise Agency.
The virtual pitch competition was held on Thursday, January 21, 2021, and marks the end of the 6-month Orange Corners Nigeria Business Incubation programme. Orange Corners Nigeria is an initiative of the Kingdom of The Netherlands, implemented by Nigeria’s Foremost Enterprise Support Organization, FATE Foundation.
The programme was launched in Nigeria on July 10, 2019 and to date has supported60 Entrepreneurs with Enterprise Development Training, Business Incubation and Advisory Services, Mentoring and Funding valued over ₦180,000,000(One hundred and Eighty Million Naira) for prototype development and testing.
The businesses were assessed and the winners decided by expert Jury; Tim Spaans; Deputy Programme Manager,Orange Corners, Oge Nnaife; Head startups and Youth Enterprise, FATE Foundation and AjuloOjeawe; CSR and Sustainability Manager, FrieslandCampina WAMCO Plc.
In attendance was Abel Neering; Vice ConsulEconomic Affairs, Netherlands Consulate General, Lagos and. In his congratulatory speech to the entrepreneurs, he stated;
‘’The combination of technology, entrepreneurship and innovative ideas are vital for sustainable and green economic growth irrespective of the sector you are operating in. The facilitation of entrepreneurship is, therefore, crucial to solve tomorrow and today’s challenges and achieve the SDGs. Before the holiday break, I actually attended the Nigeria digital economy conference organised by the US Chamber of commerce and Orange Corners Alumni, theEdtech company;Afrilearn participated in this digital entrepreneurship competition and they won. Next to Afrilearn, there are other many success stories of Orange Corners Alumni running successful businesses in various sectors. I am therefore very proud of this programme, the team and the entrepreneurs’’.
Two (2) cohorts of the 6-month Incubation programme are set to run this year with the first to hold from February to July and the second from July to December 2021. The programme is open to innovative entrepreneurs resident in Lagos, Nigeria. Entrepreneurs between ages 18 to 35 with innovative and sustainable solutions that have a significant economic and social impact particularly in the Circular Economy, Agribusiness, Health, Education and Creative sectors are encouraged to apply.
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