Titilayo Medunoye, Founder of Milky Express, Jide Ayegbusi, Founder of Edusko, Isaac Oladipupo, Founder of Afrilearn, Victor Emaye, Founder of Medipal Health care and Kenneth Okonkwo, Founder of IrriTech Services have emerged winners of the Innovation Fund at the Orange Corners Nigeria Incubation Programme Stream 2. The fund, which is a total of 135,000 EUR Start-up capital with a 75percent grant, 25percent loan ratio will be divided amongst the 5 winners.
Orange Corners Nigeria is a Dutch initiative, supported by the Netherlands Enterprise Agency and implemented by Nigeria’s foremost Enterprise Support Organization, FATE Foundation. The programme which launched in Nigeria in July 10, 2019 has to date supported 40 Entrepreneurs with Enterprise Training, Business Incubation and Advisory Services, Mentoring and Funding valued over Eighty Million Naira for prototype development and testing.
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Stream 2 of the six months long programme began in February, 2020 and rounded up with a business pitch competition in June 25, 2020. During the pitch competition, Incubates presented their businesses to expert Jury comprising of Tim Spaans, Deputy Programme Manager, Orange Corners, Pradeep Pahalwani, MD Securisk Brokers, and Temitope Onitiri, Partner Audit, KPMG Nigeria. The Jury also determined the winners of the Orange corners Innovation Fund.
Speaking shortly after the programme, Executive Director, FATE Foundation, Adenike Adeyemi, congratulated the winners whilst cheering them of the well-deserved win. She also expressed delight at the successful conclusion of the programme stating that “the foundation is very proud of to record the success of the second stream of the programme and its achievements over the years. The Entrepreneurs have proved to be resilient, socially impactful and innovative, by developing sustainable solutions pre and during the COVID-19 pandemic. We congratulate them for rising above the challenges. We also look forward to collaborating with more private companies in supporting more young entrepreneurs in Nigeria’’.
She noted that application for the third stream of the 6-month Incubation programme which will run virtually from July-December, 2020 is open to applicants from July 15th, 2020.
The programme is open to aspiring Entrepreneurs resident in Lagos State, between the ages of 18 and 35 with innovative and sustainable solutions that have significant economic and social impact particularly in the Circular Economy, Agribusiness, Health, Education and Creative sectors. Start-ups providing solutions to COVID-19 are encouraged to also apply.
FATE Foundation is a non-profit private-sector led organisation created in March 2000 to tackle the high rate of unemployment and poverty in Nigeria with the aim of enabling aspiring and emerging Nigerian entrepreneurs start, grow and scale their businesses while also facilitating the development of an enabling business environment and thriving ecosystem.
