The Development Bank of Nigeria (DBN) has further bolstered the growth of Micro, Small and Medium Enterprises (MSMEs) within Nigeria’s innovation ecosystem by facilitating direct interface between investors-ready tech innovators and potential investors in Nigeria.
This was carried out during the recent 2024 DBN Techpreneur Summit 3.0, which offered qualified techpreneurs the opportunity to secure financing deals during the annual flagship tech summit of the DBN.
“By providing a platform for startups to pitch their ideas, network with investors, and explore funding opportunities, the summit seeks to bridge the gap between innovative tech ventures and capital infusion. This emphasises the importance of fostering an environment conducive for investment in Nigerian technology startups, driving economic growth and accelerating job creation,” Tony Okpanachi, the managing director/CEO, DBN stated during the summit.
He disclosed that the interface between the tech innovators and potential investors was made possible through partnership between DBN and Addium Capital with the setting up of DealRoom – an exclusive session during the summit that offered opportunity for techpreneurs to meet with potential investors directly.
Okpanachi stated further that the concept was also to encourage entrepreneurs to develop innovative solutions that not only drive financial returns, but also generate positive social and environmental impacts specifically for Nigeria.
“This underscores the importance of aligning entrepreneurial endeavours with the broader goals of sustainable development, creating a more inclusive and resilient economy,” Okpanachi stressed.
Celestine Iwendi, keynote speaker and head, centre of Intelligence of Things (IoT), University of Bolton, United Kingdom, urged Nigerian tech innovators to intensify efforts on research and development of more innovation-based solutions that can help in addressing social and environmental challenges.
As part of this year’s DBN Techpreneur Summit, a pitch session also held during which 20 tech innovators cutting across green/renewable energy, recycling, fintech, e-commerce, business financing, insurance, nutrition, health, agriculture, transportation, automobile spare parts, and other sustainable innovations showcased innovative ideas.
At the end of the pitch presentations, four successful winners received a total prize sum of N20 million as seed money. The winners are Niteon, PowerLab Limited, Powerful Technology, and TradeLenda.
