Accenture, global management consulting and professional services company that provides a strategy, consulting, digital, technology and operations services has said that will give free technology and business grooming services to three companies that emerged tops at the recently held Nigerian Economic Summit Group (NESG)start-up pitch.
The start-up pitch event saw L & L Foods, Accounteer and MyPadi.ng as the three companies emerging tops from an initial list of more than 260 start-ups.
According to Niyi Yusuf, Country Manager, Accenture Nigeria; “Conventionally, Accenture works with large companies; but this is our own way of contributing to the nation’s development. We have been part of the Nigerian Economic Summit Group since inception 24 years ago.
“Now that NESG is looking at promotion of indigenous entrepreneurs who can be globally relevant and globally competitive, Accenture’s role in that process is to provide free advisory services on how to redefine their business model,” Yusuf added.
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Accenture says the grooming service is the company’s contribution to the emergence of future business giants.
Yusuf said; “this is our own way of contributing to the development of the nation and building the next generation of entrepreneurs who will hopefully have big companies in the future that can then become clients of Accenture.
“Accenture will work with them for three to six months to redefine their business models and make them more attractive to investors. Access to capital is an issue. As we work with them, they should stand a better chance of getting investors. Money is the lifeline of the business.”
L & L Foods, a company that distributed sugar coated peanuts was placed in first position and won $15,000; Accounteer, was announced as second with the prize of $10,000. The company helps business owners to manage their administration and helps the businesses to professionalise, grow, and automate their administrative processes; while MyPadi.ng, which won $5,000, for coming third is a hostel booking platform.
Yusuf said for a start-up to succeed, it needs to be driven by people who had passion and competence while the business must be addressing problems relevant to the environment.
According to him, for a business to attract investors, the business needs to be driven by a team rather than an individual.
The Accenture boss said investors were more interested in investing in businesses founded and run by teams because teams would make for cross fertilisation of ideas as well as longevity of business.
Jumoke Akiyode Lawanson
