In furtherance of its strategic role of stimulating the growth of Micro, Small and Medium Enterprises (MSMEs) in Nigeria, the Development Bank of Nigeria (DBN) is staking N20 million to boost the Nigerian techpreneur ecosystem.
The DBN is leveraging on its Techpreneur Summit 2024, which seeks to promote and showcase investor-ready technology innovations within Nigeria’s entrepreneurial ecosystem.
Themed, ‘Catalyzing Tech Innovation: Empowering Entrepreneurs for Regenerative Growth,’ the summit will also help in providing access to a pipeline of investors and subsequently funding to qualified and shortlisted techpreneurs.
20 tech innovators drawn from across fintech, health tech, transport, IOT and other segments were selected from over 100 tech companies that submitted entries ahead of the final pitch stage scheduled for Wednesday July 10, 2024, in Lagos.
“Pre-selection of innovators provides feedback on the viability and potential of the innovation, and enhances the innovator’s pitch and overall chances. It boosts confidence for the competing teams,” Tony Okpanachi, MD/CEO of the DBN stated.
According to him, streamlining the selection process reduces stress and anxiety for innovators that make the shortlist, and also help them to focus on the best ways to achieve success at the pitch and in their presentation.
He stated further that the DBN plays a pivotal role in unlocking the potential of micro and medium enterprises, by supporting MSMEs and tech innovators to grow and scale up businesses, as well as the tech industry in Nigeria.
According to Okpanachi, DBN contributes to driving inclusive economic growth and improved quality of lives for Nigerians, by empowering MSMEs to contribute significantly to the real Gross Domestic Product (GDP) growth of the country.
“On the 10th of July, tech founders will have access to at least 50 curated investors during the summit. We are curating the summit in unique ways whereby the tech startups can sit with prospective investors that are coming to the event,” Comfort Aruosa-Osemwegie, MD, Addium Capital, stating in affirming the importance of the screening session.
According to her, the screening session was aimed at making the tech founders ready for potential investors, who will also be attending this year’s Techpreneur Summit. She disclosed that through a partnership between DBN and Addium, a private equity and venture capital firm, an exclusive Deal Room will be held within the summit and it will serve as a platform for techpreneurs to meet with potential investors directly.
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