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Business News of Tuesday, 23 February 2021

Source: The Guardian

Five Nigerian start-ups receive €135,000 from OCIF

The entrepreneurs have access to a €135,000 start-up capital The entrepreneurs have access to a €135,000 start-up capital

Co-Founder, Chekkit Technologies, Tosin Adelowo; CEO of SALUBATA, Fela Akinse; Founder of Ecotutu, Babajide Oluwase; Founder of Machi, Nkechi Idinmachi; and Founder of Mainlotz Edge, Bamidele Joshua; have emerged winners at the Orange Corners Nigeria Business Pitch Competition.

It was disclosed in a statement that the entrepreneurs have access to a €135,000 start-up capital of 75 per cent grant and 25 per cent loan provided by the Netherlands Enterprise Agency.
Orange Corners Nigeria is an initiative of the Kingdom of The Netherlands implemented by Nigeria’s Foremost Enterprise Support Organisation, FATE Foundation.

The programme was launched in Nigeria in 2019 and to date has supported 60 entrepreneurs with enterprise development training, business incubation and advisory services, mentoring and funding valued over 180 million for prototype development and testing.

The businesses were assessed and the winners were decided by a jury comprised of the Deputy Programme Manager, Orange Corners, Tim Spaans; Head, Startups and Youth Enterprise, FATE Foundation, Oge Nnaife and CSR and Sustainability Manager, FrieslandCampina WAMCO Plc, Ajulo Ojeawe.
Speaking at the event, Vice-Consul Economic Affairs, Netherlands Consulate General, Lagos, Abel Neering, stated that the combination of technology, entrepreneurship and innovative ideas are vital for sustainable and green economic growth irrespective of the sector one operates in.

According to him, the facilitation of entrepreneurship is crucial to solve tomorrow’s and today’s challenges and achieve the Sustainable Development Goals (SDGs).

Two (2) cohorts of the six-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.

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