• Monday, May 27, 2024
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BusinessDay

SIA Foundation awards $10,000 to winners of SIA startup foundry program

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Sola and Ibukun Adeyinka (SIA) Foundation, a Lagos-based non-profit dedicated to promoting social and economic inclusion in Africa, has awarded $10,000 to winners in the inaugural SIA startup foundry program.

The foundation said aligned with its mission to nurture African entrepreneurship, the program provided essential resources for growth to 40 businesses.

“We are incredibly proud of the passionate innovators who participated in the inaugural SIA Startup Foundry. This program embodies our commitment to Africa’s entrepreneurial spirit and fostering a thriving business ecosystem,” Sola Adeyinka, co-chair of SIA Foundation.

The participants underwent an intensive four weeks bootcamp on critical business topics, receiving mentorship and guidance from experts in business development, financial management, crafting winning pitches and other subject areas.

Following a rigorous selection process, five exceptional businesses – OJ Technologies (winner), Greenera Technologies (first runner-up), Verd Foods (second runner-up), Natal Cares (second runner-up), and Dash Studios (second runner-up) were awarded a total of $10,000 in grant funding to fuel their businesses.

“Through this program, we envision a profound and lasting impact on both the winners and all participants. Our commitment to nurturing innovative and scalable businesses not only fuels economic growth but also charts a course towards a more prosperous and vibrant Africa,” Oluwajoba Oloba, co-founder of The Nest said.

“Our partnership with the SIA Foundation stands as a testament to this shared vision and amplifies our collective efforts in driving sustainable change across the continent,” Oloba added.

Gift Muoneke of Grace Darko of Verd Foods, a beneficiary of the grant funding, said: “I will recommend The SIA Startup Foundry to other startups that want to make their business scalable. The SIA Startup Foundry taught me to create structures and strategies that can be put in place to leave no money lying idly on the table.”

“One of the key lessons from the training is the importance of resilience in the Startup world. The sense of community within the program made us strive for excellence and push boundaries,” Uche Udekwe, founder of Natal Cares, said.